Customer Retention Strategy
A full outline of how customer retention can affect the success of your business.

Customer Retention Strategy

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How to Calculate the Cost of Customer Acquisition

Gaining new customers is always going to cost you money.  Even if it seems free, you are still investing time, effort and planning so as to achieve your decided goal.  The clearest and most transparent way of calculating customer acquisitions is to research the costs beforehand and then stick to the budget you set for it.  Trying to figure out the costs after the fact is like guessing the patterns of a stained glass window through picking through its shattered remains on the church floor.

Firstly you should be asking yourself how you may attract new customers and how to make visitors become regular customers.  Effective customer acquisition may involve many methods/strategies and not all customer acquisition methods are transferable/applicable to/for all of your web projects.

You should always treat your marketing efforts as a detailed and specific project, as per your company, industry and marketing plans, because incorrect methods/strategies may weigh heavily on your marketing budget.

Visitors are looking for a friendly, reliable and easy to use website.  In most cases you are better off having tables without graphical elements as well as toning down your more elaborate and colorful designs.  The biggest part of popular and long lasting websites have a simple and user-friendly interface.  So for a start, you can save a lot of money on intricate and convoluted designs.  If your website is genuinely useful, then tone down the fireworks and save on web design.  The navigation should not be made too complex and complicated as this deters potential visitors from becoming customers.

People value security, so invest a little money in your sites security and make sure that all appropriate security measures like SSL are met.  This is often an expensive cost to start with that is maintained (via updates) for a lower cost, but it will help you to recruit and keep loyal customers.

Informative, interesting, useful and compelling landing pages can turn visitors into new customer.  Spend your money on making your site useful and compelling instead of on fancy flash displays.  Use dedicated Internet sites for studies and surveys of potential customers that you may contact directly if you wish.  Utilize free advertising such as, newsletters in return for free downloads and product samples that may be used by your visitors.

Affiliate programs/marketing is a good way of getting new customers, and you are often able to set your own budgets for how much you spend.  This way you can monitor the traffic they send you, and if you have the right tools you may be able to see how many people/visitors from that traffic actually buy, and how many bounce.  Calculate exactly how much you are willing to pass on as commissions to the webmaster.  If you can set up a pay per action deal, then you only need pay commissions if the visitors buy.  If you put this to work correctly then it is the same as printing money.

AdSense/Adwords is already a web standard that is used in order to win new customers.  Again you are able to use Adwords/Adsense to calculate exactly how much money you wish to pay per click.  Seek advice (if necessary) from agencies with regard to conversion rates and cost-benefit analysis before you start your own advertising campaigns to attract customers.

It is believed that only 8% of surfer’s searches, for a keyword in Google, go over the first 3 pages.  So invest in optimizing your site (SEO) and then monitor how much of your organic search engine traffic is producing sales/conversions.  If it is a significant number, then consider investing more into SEO.

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