Cutting Customer Acquisition Costs After the Holidays

If your company like many companies is concerned about your bottom line today, you are no doubt looking for ways to cut costs. Customer acquisition costs can be one of the largest parts of your company’s budget. Besides spending millions on marketing efforts, there are other ways to gain a new customer base, or keep the customers you have without going broke.

How Your Company Can Cut Customer Acquisition Costs after the Holidays

Remember that junk mail is a waste of your company’s money- junk mail advertising is being recycled before potential customers are opening the envelopes. As well as internet ads are considered SPAM. Getting up close and personal with new customer relationships will keep your customers around longer and they will spread the word for you- saving your company money as well as making it. What else can you do?

1. Save on Postage
• Information, catalogs, coupons and newsletters can all be added to existing orders or invoices that you are already sending. Trading off space in outbound package inserts can be an excellent source of both leads and orders. Instead of mailing each thing separately, make the most out of your stamp.
• Go in together with other companies or partners to maximize your potential customer base. You scratch their back and they can scratch yours.

2. Sharing Information
• Exchange customer lists with other companies. Instead of renting housefile names, online and offline, you and another company can help each other out again by sharing information.
• Link Exchange: Trade online advertising with like-minding companies, post links to each other’s websites, blogs or articles.

With this economy, your company needs to get creative and resourceful. What can your company offer that no other company can offer? How are you “un-like” them? What similarities in your company, from huge to small town can relate to new customers and what are the perks that you can offer to retain your customers? Think like a consumer and try and understand what is most important to them when they are deciding which provider to use. Use your research to plan a distribution strategy for customer acquisition and retention so that your business can divide up your company’s finances more evenly to survive this year.

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Cutting Customer Acquisition Costs After the Holidays