HOW TO REDUCE THE COST OF ACQUIRING CUSTOMERS | MARKETING MYTHBUSTERS #business #marketing

The cost of acquiring new customers is getting more expensive, more complex, and more competitive than ever before. As marketers, we need to rethink the old, tired processes we've been using, not least because pretty much everyone else is doing the same thing. We need to come up with a new recipe if we're looking to acquire customers at a lower cost and at a higher conversion rate. Apart from looking at new categories to serve or new channels to exploit, we need to tighten up our processes so less opportunities fall through the cracks. For example, to get more out of the people Visiting our website, the single most important way to improve on-site conversions is by improving messaging. Having someone fill out your contact form, email you, or call you up is the effect. But what's the cause? What was their initial motivation to go to your site or to open up Google and enter a search term? By looking further upstream, before the buyer has even entered the sales funnel, we have an opportunity to develop salience and prominence faster and at a more ingrained level than the competition.