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How to Lower Customer Acquisition Costs While Hitting Aggressive Revenue Goals

By April 8, 2020 No Comments
how to lower customer acquisition costs

There’s never been a better time to be a B2B technology or SaaS marketer who wants to learn how to lower customer acquisition costs. Not only is digital marketing an extremely cost-effective method of lead generation, but there’s still room for optimization that will lower customer acquisition costs while helping you hit aggressive revenue goals.

To get you started, we’ve pulled the following tips from The Ultimate Guide to B2B Digital Marketing to help you begin reducing your acquisition costs today.

Paid Social Delivers Results

Are you interested in tapping into one of the most cost-effective forms of lead generation, reaching prospects at a CPM of just $3? Then it’s time to expand your reach with paid social media. Begin by reducing the cost of leads and acquiring customers with retargeting and look-alike audiences. One approach might be to retarget leads that click on a search ad but have not completed an action such as filling out a form for more information.

So how do you choose social advertising channels for your B2B digital marketing mix? First, consider your audiences. Take a look at your buyer personas. Based on what you know about your customers, where do they like to learn about new products and services? What social media platforms do they frequent most? Then, consider the following.

  • LinkedIn: It’s estimated that a stunning 80% of B2B leads come from LinkedIn.
  • YouTube: More than 68% of all customers prefer to learn about products and services via video content.
  • Facebook: Some 74% of people say they use Facebook for business purposes.
  • Twitter: B2B businesses on Twitter generate 2x as many leads as those not on the platform.

Paid Search Lowers CPA

Did you know you can capture leads at a cost per acquisition (CPA) of only $56 with search engine marketing (SEM)? While SEO-optimized website pages take time to be crawled and indexed by Google, SEM allows your business to appear at the top of results and capture new traffic immediately. Simple, text-based ads that target specific keywords fit seamlessly into search results.

So why not just stick with organic (free) search? Here are a few benefits of SEM over SEO.

  • Jump to the top of search results right away
  • Get in front of the target buyers you want
  • Test audiences, keywords, and messaging
  • Add extensions like links, phone number, offers, and callouts
  • Connect with buyers further down the funnel

Read: 5-Step Framework for B2B Digital Marketing

Email Marketing Offers Frugality

Always a great supplement to other digital marketing activities, email marketing can help dramatically increase your likelihood of converting leads while also leaving room in your budget for retargeting and search ads. Be forewarned though, it isn’t the best choice for lead generation at the top of your marketing funnel. Save it for nurturing qualified leads further down the funnel.

That said, beyond the initial investment in a marketing automation platform, email marketing typically has few costs attached. Here are a few ways to optimize your B2B email marketing strategy to improve its effectiveness.

  • Leverage automation
  • Segment your database
  • Personalize communications
  • Optimize for mobile
  • Tap into transactional emails

Lower Your CPA and Increase Revenue Today

So which is ultimately better: paid social or paid search? The best B2B digital marketing strategies include a coordinated approach, leveraging both paid search and social advertising to bring in and nurture leads until they’re ready to have a conversation with Sales.

PMG is here to help you define, grow, and measure your B2B digital marketing strategy, increase qualified leads, transform contacts into clients, and boost revenue, all  while lowering your CPA. PMG partners with B2B technology and SaaS enterprises like yours every day.

That’s why we’ve developed The Ultimate Guide to B2B Digital Marketing. This comprehensive B2B digital marketing guide offers tips that can help you maximize return on spend while gaining a deeper understanding of your customers along every step of the buyer’s journey. Download The Ultimate Guide to B2B Digital Marketing or contact PMG today.