06 Jul Why is ‘Search Marketing’ the Best Tool for Customer Acquisition
Acquiring a new customer can cost 5 to 7 times more than retaining an existing customer.
With consumer confidence still low after the recession, all marketers are turning to where they can find the most measurable ROI , the Internet. In the internet space, contrary to traditional media, marketers can focus on tactics that are both cost-effective and best contribute to the bottom line. With tools that describe ‘Search’ marketers are able to quantify the effectiveness of results of the various promotional activities conducted online.
Search Marketing works well to attract customer prospects and inquiries because marketers can place ads or organic listings in front of potential customers at the very moment they express interest in particular offerings. And Email marketing, when incorporated concurrently, works well for customer retention because it offers marketers a channel to communicate regularly with, and therefore engage, their customers. Furthermore, search engines are the main way people seek information or navigate around the web, giving marketers multiple opportunities to attract them.
Among conversions, internet search marketing was responsible for nearly four times the referrals than was e-mail, according to research from comScore 16.2% from search versus 4.4% from e-mail.
However, it is critical that ‘search marketing’ tie fully into a company’s other marketing and technology operations, such as the brand Website for search or customer service for e-mail.
Marketing Goals in the Digital Space
In response to the economic downturn, many marketers are focusing more intently on the basics of getting and keeping customers.
Marketers tend to find ROI more measurable on the Internet than with traditional media. Marketers surveyed in January 2009 by MarketingSherpa said that, among online tactics, search engine optimization, paid search and e-mails deliver great ROI.
More often, however, search marketing’s effects on customer acquisition are more immediate. For example, research companies such as comScore have seen a sharp rise in the use of search terms such as ‘coupons’ and ‘discounts’. Retail marketers, in particular, can convert a significant portion of prospects into new customers by addressing these clearly stated desires.
Amongst translating into higher customers, they have also able to achieve marketing goals in the digitals space by –
1) Achieving measurable ROI on online marketing efforts
2) Develop marketing programs that integrate online and traditional media
3) Translating the brand experience across various touchpoints
4) Cutting marketing budgets without cutting performance
5) Optimizing the brand portfolio
6) Uncovering relevant and valuable consumer insights via search
7) Measure brand effectiveness
8) Refreshing the brands image
9) Help in evolving a brand name
Keeping in mind the purpose of marketing hence it’s obvious that attention to a customer acquisition program via ‘Internet Search Marketing’ can certainly pay dividends in diamonds to those wise enough to make the investment.