How much do businesses claim as their customer acquisition cost? It can vary among industries and company sizes, but marketing expenses alone could account for 5% of the budget. In other words, it's not cheap. While this cost is unavoidable, companies can look for ways to trim it down. One option is to use tools like WaveToGet, an all-in-one app with enterprise solutions that improve customer acquisition and retention. Here's how it works.
1. The App Can Attract Customers through Promos and Discount Cards
Businesses can lower their customer acquisition cost with promo and discount cards. Customers are always looking for a deal, and these can be used as an attraction tool. Further, these cards allow businesses to penetrate a market already dominated by big-name brands. When business owners pair these cards with referral incentives, they can also improve word-of-mouth marketing.
2. The App Can Help You Keep Customers with a Loyalty Program
Companies can also manage their customer acquisition cost by keeping their existing clients happy. Multiple studies have already shown that retention is cheaper than acquisition. Even better, existing customers are more likely to spend more than new ones.
Using WaveToGet, entrepreneurs can begin a loyalty and rewards program immediately. They can choose various options, such as allowing customers to collect points, scratch cards, or digital coupons. Referral programs are also available. For example, business owners can give a discount to customers for every new client they bring in.
3. Design Marketing Efforts According to the Target AudienceWhen planning marketing and advertising campaigns, it is essential to think about the target audience. After all, these factors will determine what message to send, where to reach them, and how often. Businesses that don't know their target market waste time and money on ads that don't work.
Fortunately, the customizable marketing solutions of WaveToGet can help business owners determine their target market and, as a result, design more effective marketing campaigns.
The cost of customer acquisition can be high, but it doesn't have to be. Companies can use WaveToGet's app to create promos and discount cards, manage a loyalty or referral program, and design marketing campaigns according to their target audience.
With these solutions, businesses can lower their customer acquisition cost while still providing an excellent experience for their clients.
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