Starting a business is daunting enough, especially regarding customer acquisition. Now imagine you’ve got to convince 1000 people to buy your product or service — and fast.
If this keeps you up at night, we are here to help you. In this article, we will show you 10 strategies for gaining your first 1000 customers.
These ten strategies are cost-effective, so bootstrap founders stick around till the end. Ready? Let’s dive in!
1-100 Customers
Gaining your first 100 customers is the earliest stage of startup growth. You may be fresh out of founders’ boot camp or college, and you can get your first 100 customers using the following strategies.
1- Define your target audience
The first step in customer acquisition is to define your target audience. You might think this strategy is overhyped, but it isn’t. Defining your target audience means identifying the specific group of people who are most likely to use your product or service. You can tailor your customer acquisition strategies by defining your target audience. To determine your target audience, consider age, gender, location, interests, and behaviors.
2- Build a strong brand identity
A strong brand identity is essential for customer acquisition and retention. Your brand identity should reflect your startup’s values, personality, and unique value proposition. Building a solid brand identity can differentiate your startup from competitors and attract customers who share your values and interests.
- Create a compelling brand story.
- Design a memorable logo and visual identity
- Set out your language and tone of voice for your communications
Do you see why you need to know your target audience first? Since you know who you are speaking to and what interests them, your language, tone, and visuals will be tailored to that persona.
Also Read: Small Business Tips: Good Branding Vs. Bad Branding. Why branding matters
3- Hand-to-hand combat (go to market)
Time to work hard! Don’t be afraid or embarrassed; rejection is part of the process. You won’t know what you’ll get if you don’t ask. To grow your startup to 100 customers, you must step out of your comfort zone and fight (I mean limitations and rejections).
You already know where your audience is, so go there, whether you’re selling a product or service. Don’t expect customers to come to you at this stage. If your audience is flying, you might have to get on that plane or at least be at the airport with your elevator pitch.
4- Leverage your existing network
You don’t have to start from scratch when looking for new customers. Leveraging your existing network is an excellent way to get your first 100 customers. It can be as simple as word-of-mouth among friends, family, and acquaintances. Ask people if they’d be willing to share your product or service.
If you’ve worked with someone in the past, they may be more likely to trust you and refer you. So now, here’s the cold-warm email template I promised.
You can convert this template to a 1-minute pitch, a WhatsApp broadcast message, a sales call script, and many more.
5- Create an exceptional product experience
Now your friends, colleagues, and acquaintances are signing up to experience your product or service, can your product speak for itself? Its design, functionality, and performance will all be vital in convincing customers to purchase from you.
To create an exceptional product experience, focus on user experience and aim to establish trust between your brand and the customer.
To do this, you’ll want to make sure of the following.
- Each product is finished and presentable and won’t need any adjustments or changes before shipping.
- Your product delivers on the Unique Value Proposition promised. But does your product give your customers an “Aha” moment?
Consider improving customer satisfaction with extra features or perks. Whether it’s offering free delivery or add-ons that complement the purchase, like installation guides or warranties, these small touches can help set you apart from competitors.
Also Read: How can a small business deliver more value to customers?
100-500 Customers
Congratulations! You have crossed the mark and shown bravery only a few are gifted with. You have gotten your first 100 customers. Now you can 5x that number and scale using the following strategies.
6- Going back to the 1st customer
You launched your product, and over 50 people have bought it or signed up. That is impressive. Now it’s time to have a sit-down with them and get feedback.
What you ask and how you ask it will change the value of the information you get.
More real-time less automation. Surveys are excellent but live conversations are highly recommended, so get on a call with them as much as possible. 10-20 calls in a day, and five days, you would have spoken to at least fifty of your early customers.
Please don’t ask them how they liked the product; don’t fish for compliments. Please don’t do it!
“Your most unhappy customers are your greatest source of learning.” — Bill Gates
Ask the following questions instead:
- What were they trying to get done?
- How did the product work/didn’t work?
- What did the product fail to do?
- How does this product fit into their work or life?
- What features do they not care about?
- How does your product compare to other alternatives in the market?
The ability to talk to every user helps you with iteration and making the product better, as well as developing a better understanding of your audience and the exact problem your product solves for them.
7- Networking vs. community building
People often mistake networks for communities or vice versa. To get your first 500 customers, you need to understand the difference. To achieve your goal, you need both the space and the people.
How to build your network
- Look for people one step in front of you and leverage their network. But, on- the other hand, don’t go too far ahead.
- Conferences, conventions, and other events are great places to connect with like-minded people and potential customers.
- Be active on social media and intentionally connect with the right people. Pro tip: Don’t just send a default ‘connect’ message—case in point: LinkedIn. Add an introduction of yourself and your product.
Here’s how to build a community
- Pick the right platform, whether on socials or emails.
- Share your story and leverage storytelling.
- Build a connection with your audience. Do this through shared values and culture.
- Celebrate every customer like they were the only ones.
Examples of brands that have leveraged community-led-growth: are Piggyvest, Dang Lifestyle, Cowrywise, AltSchool, Walt Disney, Figma, Duolingo, and Hubspot.
500-1000 Customers
Success looks so good on you! You are well on your way to 1000 customers. Here are a few more strategies to employ.
8- Focus on customer retention & advocacy
Customer retention and advocacy are often overlooked. However, Word-of-mouth referrals can be powerful in gaining 1000 customers. Recommendations from friends and family are more trustworthy than online reviews because they come from trusted sources. A referral is like having a trusted friend vouch for your product or service.
“92% of respondents reported that a positive recommendation from a friend, family members, or someone they trust is the biggest influence on whether they buy a product or service.” — Paul M. Rand.
So, how can you take advantage of customer advocacy? Here are some helpful tips:
- Start by offering incentives like discounts and free upgrades to existing customers who refer their family and friends.
- Leverage social media networks – ask current customers to post about your products and services on their pages.
- Make it easy to share or refer – provide clickable links or shareable codes that make it easy for customers to spread the word.
Using these strategies, you can tap into an established network of contacts who will help bring more traffic and potential customers to your business!
9- Customer service experience
Providing excellent customer service is essential to building customer trust. Customer service experience involves offering support through various channels, setting realistic delivery expectations, and ensuring a hassle-free returns process.
“Brands that prioritize customer experience generate up to 4 times more revenue than those that don’t.” (Source: Forbes)
By doing this, you can show people that their opinions are valued, and they will be more likely to recommend your product or service to others. Additionally, investing in CX can help create meaningful connections with your audience and open up new opportunities for customer growth.
10- Customer loyalty
Indeed, loyalty cannot be bought, but it can be encouraged. This strategy is often debated or tagged as a gimmick in the business community, but the customers think otherwise.
“81% of consumers are more likely to continue doing business with brands that offer loyalty programs.” (Source: Accenture)
The impact of customer loyalty on the growth and revenue of businesses of different sizes has become evident, making it a valuable strategy to consider.
Gaining your first 1000 customers can be inexpensive. Here’s how:
- You can implement special deals and discounts to reduce customer acquisition costs. For example, you can offer special discounts for large-scale purchases, early adopters, or returning customers. This could range from 20% off if they purchase 10 items at once. Or 10% off their next purchase after joining your loyalty program.
- Offering personalized incentives and rewards can be an effective way to show appreciation to loyal customers. To achieve this, consider implementing a loyalty program that provides tailored rewards based on customer behavior and preferences.
Also Read: Customer Loyalty Program for Small Business – All You Need To Know
1000+ Customers
Startup-to-startup partnerships and collaborations
Finally, collaborate with other businesses in your industry or area of expertise for possible lead-sharing or joint venture opportunities. This collaboration will help with customer acquisition and create long-term relationships that serve both parties’ interests. This strategy can be free, primarily if it benefits all partners and collaborators.
Some examples of mutually beneficial partnerships include:
- Publish guest posts on partners’ blog sites.
- Granting podcast interviews
- Newsletter features on each partner’s list
- Hosting webinars together with partner brands who have more audience
- API integrations
Conclusion
In the end, customer acquisition is an ongoing process. Your first step to success should be understanding your ideal customer and then utilizing the right strategies to get them. Focusing on the ten strategies discussed lets you quickly and easily grow your customer base from 0 to 1,000.
Remember to audit, refine your targeting and optimize your strategy to ensure customer retention. Then, with the right strategies and customer data, you can turn those customers into evangelists that will help your business grow.
Authors bio
Penmah Johnson is a content strategist for ThankUCash, a platform that focuses on customer satisfaction by helping businesses manage and launch loyalty programs while providing insights into customer data. Penmah has a deep passion for content strategy and marketing and enjoys sharing her knowledge and expertise with others in the industry.
Author: Small Business Digest ::: Source link
