In the first part of our in-depth study, we explored the fundamental pillars of building an effective customer acquisition strategy, from the first steps to understanding your target audience to creating a unique value proposition, to building a solid digital presence and using free trials or demos to attract new customers.

In this second part, we will delve into further strategic aspects that will allow you to consolidate and expand your customer base.

Leverage word-of-mouth and referrals

Leveraging word-of-mouth and referrals is an extremely powerful marketing strategy for acquiring customers and building customer loyalty. It is considered one of the most effective forms of promotion because it is based on trust and personal relationships, which profoundly influence purchasing decisions.

Here is a breakdown of the benefits, limitations, and strategies for making the most of word-of-mouth and referrals.

Why are word of mouth and referrals so important?

1. High level of trust: Customers trust recommendations from friends, family, and colleagues more than any form of traditional advertising. Statistics: 92% of people trust the advice of friends and acquaintances over other forms of marketing (source: Nielsen).
2. Low acquisition cost: Referrals, being generated from existing customers, significantly reduce the costs associated with acquiring new customers.
3. Higher conversions: Leads from recommendations are much more likely to convert than leads generated through other channels, because they are already “pre-qualified” by the relationship’s trust.
4. Customer loyalty: Customers acquired through word-of-mouth tend to be more loyal, as the relationship with the brand is already based on a positive recommendation.
5. Organic expansion: effective word-of-mouth can generate exponential growth, creating a network of new customers who in turn recommend your product.

Challenges and limitations of word-of-mouth among acquaintances or followers

1. Difficulty controlling: You can’t directly control what’s said or shared about your brand, which can lead to negative feedback as well.
2. It requires an excellent experience: To generate positive word-of-mouth, it is essential that the product/service exceeds customer expectations.
3. Time needed: Word of mouth is an organic process that can take time to build a meaningful impact.

Strategies for leveraging word-of-mouth and referrals

1. Create an exceptional experience: The key to word-of-mouth is to provide a product or service that surprises and delights the customer beyond expectations.
   • Ex: Zappos is famous for its amazing customer service, which has generated positive word-of-mouth over time.
2. Offer a referral program: Incentivize satisfied customers to recommend you by offering them rewards or discounts.
   • Ex: Dropbox offered free storage space to users who invited friends, achieving explosive growth.
3. Build a community of brand ambassadors: Turn your most loyal customers into brand promoters through ambassador or influencer programs.
   • Incentives: Discounts, early access to products, exclusive giveaways.
4. Actively request referrals: Satisfied customers often don’t actively recommend the product simply because they aren’t pressured to do so.
   • Invite customers to leave reviews or share their excitement on social media.
   • Use automated emails to ask for referrals from satisfied customers.
5. Stimulate word-of-mouth on social media
   • Create shareable content, such as emotional posts, funny videos, or timed promotions.
   • Use dedicated hashtags to encourage customers to talk about your brand.
6. Monitor and encourage online reviews: Reviews on platforms like Google or Trustpilot are a form of digital word-of-mouth.
   • Respond to positive and negative reviews professionally to demonstrate customer focus.
7. Deliver memorable experiences: Amazing or personalized experiences lead to conversations.
   • Ex: Airbnb has built its success by creating authentic travel experiences that encourage users to share them with friends.

Techniques to amplify word-of-mouth

1. Gamification: Make the referral process a game by rewarding customers for each friend they invite or share.
   • Ex: Revolut rewards users with money for each new subscriber.
2. Leverage local influencers: Partner with influencers or micro-influencers in your industry to amplify word-of-mouth in specific niches.
3. Offline events and initiatives: events or live experiences generate word of mouth, especially if the brand creates “instagrammable” moments.
   • Ex: Personalized unboxing experiences.

Measure the effectiveness of word-of-mouth and referrals

• Net Promoter Score (NPS): Measures how likely customers are to recommend you to a third party.
• Referral conversion rate: How many people you refer convert into customers.
• Social media engagement: mentions, shares, and tags.
• Organic growth rate: measures how many new customers come from recommendations compared to other channels.

Working on Customer Relationship Management (CRM)

CRM is a software or strategy that centralizes all of your customer information in one place. A well-used system allows you to improve sales effectiveness, increase customer satisfaction and stimulate loyalty. It also allows you to:

• Monitor customer interactions (emails, phone calls, appointments, purchases).
• Analyze data to understand customer behaviors.
• Automate sales and marketing processes to improve efficiency.
• Personalize communications to make each contact meaningful.
• Use CRM to segment customers and send targeted offers.

Goal: to create personalized experiences for customers, strengthening relationships and increasing the value they offer over time.

How to leverage CRM to find customers?

1. Identify new leads
   • Use CRM to collect lead information from various sources: social media, email campaigns, trade shows, website.
   • Segment leads based on certain criteria such as interest, industry, or on-site behavior to prioritize the most qualified ones.
2. Automate follow-up
   • Set up automated workflows to send welcome emails, personalized offers, or appointment requests.
   • Ex: if a potential customer downloads an ebook from your site, the CRM can automate the sending of a follow-up email to deepen the interest.
3. Optimize the sales process
   • Monitor every stage of the sales cycle (e.g., from the first interaction to the close of the deal).
   • Identify bottlenecks and take action to improve conversion rates.
4. Use analytics and forecasts
   • Analyze your data to identify behaviors that lead to conversions (e.g., which acquisition channels are most effective).
   • Create sales forecasts to better guide strategies.

How to leverage CRM to retain customers?

1. Personalize communications
   • Store all customer interactions and preferences in the CRM. Use this information to send personalized offers, product recommendations, and relevant content.
   • Ex: If a customer has purchased a camera, you can suggest related accessories such as lenses or tripods.
2. Improve customer support
   • Provide the support team with a complete view of the customer (purchase history, previous requests, preferences) to respond quickly and accurately.
   • Use CRM to create tickets and track the status of requests in real-time.
3. Identify upsell and cross-sell opportunities
   • Analyze data to identify existing customers who could benefit from additional products or services.
   • Set up automated notifications to inform customers about relevant offers.
4. Create loyalty campaigns
   • Use CRM to segment loyal customers and reward them with exclusive offers or loyalty programs.
   • Ex: a customer who has made multiple purchases may receive a thank you coupon or an invitation to a VIP event.
5. Monitor customer satisfaction level (NPS)
   • Integrate your CRM with satisfaction surveys such as the Net Promoter Score to measure customer loyalty and identify areas for improvement.
6. Prevent churn
   • Analyze CRM data to identify signs of dissatisfaction (e.g., decreased interactions, complaints, missed orders).
   • Implement preventative actions, such as offering discounts or contacting at-risk customers directly.

Measure and optimize your strategies

Continuously analyze the results of your customer acquisition campaigns. Use tools like Google Analytics, HubSpot , or SEMrush to understand which strategies work best and which ones need improvement.

Key metrics to track:

• Customer acquisition cost (CAC): How much do you spend on each new customer?
• Customer Lifetime Value (CLV): How much value does a customer generate over time?
• Conversion rate: How many leads actually become customers?

A satisfied customer is the best word of mouth!

Acquiring customers is not just a matter of strategies, but of creating authentic relationships, understanding the needs of your target audience and offering value in every interaction. Whether you choose to invest in advertising campaigns, take advantage of word-of-mouth, or focus on tools like CRM, the key to success is always putting the customer at the center.

Remember: a satisfied customer will not only come back, but also become your best ambassador! Experiment, measure results, and adapt your actions to grow steadily and sustainably. Invest in creating value for your customers and building strong relationships – that’s what will make a difference in the long run!

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