How to acquire new customers with Lytics

Customer acquisition is a vital part of any marketing team’s goals.

Unfortunately, it’s also getting harder.

Attention spans get shorter every year. The number of channels and devices to market across is growing at a staggering rate. Customer trust in brands is declining. And with industry leaders like Netflix, Amazon, and Hulu setting the bar for customer experience and personalization, customer expectations are high and rising.

So, what’s a marketer to do? How do you acquire new customers in an ever-more-challenging marketing landscape?

The answer—according to success stories like The Economist, who grew digital subscriptions by 300% while decreasing acquisition cost by 80%—is a Customer Data Platform like Lytics.

Customer acquisition goals: driving traffic and generating leads

When we talk about customer acquisition, we’re actually talking about a couple different things. First, there’s driving traffic. To acquire new customers, obviously, you have to get in front of them and bring them into your channels.

Of course, acquisition isn’t just about traffic numbers. If the traffic arrives and never converts, you’re only halfway there. What you really want is to get those customers into your channels and then turn them into real leads that your sales and marketing teams can connect with, target, upsell, cross-sell, and convert.

Lytics CDP can help with both those things.

How Lytics drives more traffic

So, here’s the thing: In an increasingly crowded marketplace, driving more traffic doesn’t just mean reaching more people. It means reaching the right people.

By connecting Lytics’ robust, interconnected first-party data with ad platforms like Google, Facebook, and Verizon Media (Yahoo! Ads), you can create better lookalike audiences, which means finding more people like your best customers.

How? First, create a Lytics audience of your best customers, and then use your ad platform to target a lookalike audience.

Using this tactic, most clients improve their return on ad spend by anywhere from 10 – 80%. And those numbers are just averages. Some clients exceed them by leaps and bounds. (Like Lytics’ client Nestle Purina Petfinder, who tripled their conversions.)

So, how exactly does it work behind the scenes? Well, Lytics helps you identify what content your customers connect withand which customers are most engaged or most likely to return to your site based on their behavior. Once you know who those people are, you can find more people like them with lookalike tools.

How Lytics generates more leads

With lookalike audiences of your best customers, you’re halfway there. So, what’s next? How do we take those good new prospects and convert them into actual leads?

Lytics’ answer is in gathering data on these new visitors and using that data to deliver personalized experiences.

For example, let’s say you used lookalike audiences to draw in more customers who look like your best. Let’s further say you’re a subscription company that offers financial newsletters and video series. And let’s say your top two products are a financial subscription package for new college grads and another for retirement planning.

Now, how do you know which package to advertise to Suzie-new-customer who just came over with your traffic-driving campaign?

The answer lies with Lytics, which tracks Suzie’s behavior and interests from the moment she lands on your site. Lytics knows that Suzie read blog posts on asking for your first raise, renting vs. buying an apartment, and investment for beginners. The system knows she’s more engaged than your average web visitor. And even though she hasn’t given you her email yet, it can also tell that she’s visited the site twice in two days.

With all this data, Lytics can help you make an educated decision about how to market to Suzie, whose data in this case probably says she likely falls into the new-college-grad category.

Lytics’ acquisition playbook

So, what does driving more traffic and generating more leads through Lytics look like step by step? Here’s a peek at the steps in our team’s playbook:

1. Stop wasting ad dollars on existing customers.

Step one is simple: stop wasting acquisition dollars on people who already know and love your brand!

Lytics helps you do this by letting you export lists of current customers (and do so on a real-time, rolling basis) and suppress them in your ad tools.

2. Find more people like your best customers.

As we talked about above, lookalike audiences are your best friend when it comes to driving traffic. As our product team said in their excellent step-by-step guide on the topic:

“If you’re using lookalikes of your customer file as a targeting audience, it’s likely already the best performing audience in your ad campaigns. Have you heard of the Pareto principle or the 80/20 Rule? 80% of your revenue comes from 20% of your customers. For most companies, it’s more like 90/10.”

3. Base your remarketing on data science.

So, you’ve gotten some new prospects to visit your site through lookalike audience advertising. Now what? The answer is remarketing—the art of continuing to advertise to those prospects to entice them back to your channels.

Lytics can help you not only keep track of who you want to target—but also understand what kind of content they engaged with on your site.

If they were browsing your store for pencil skirts, you may want to advertise pencil skirts. If they engaged with your kitten care blog, they might be a good prospect for your line of kitten-care kits. If Suzie’s reading up on paying off student loans, she might be a good candidate for your new college grad financial newsletter.

This information, combined with our built-in data science, can give you insights into what campaigns are most likely to convert for each individual prospect.

4. Collect emails.

Next step: Turn casual browsers into engaged prospects by running email collection campaigns that specifically target people who you don’t already know and that suppress customers whose emails you already have.

5. Target offers across channels.

Finally, send the right offers at the right times across channels to push each individual toward the purchase or conversion that makes the most sense based on their behavior and interests.

A step-by-step guide for increasing renewals with Lytics

On board for a new approach to customer acquisition? Our product team wrote a step-by-step guide for you, complete with screenshots.

And if you’re not a Lytics customer? We’d love to chat about how we can help with use cases like these (not to mention customer winback, retention, and lifetime value increases).

Contact us today for a free demo and consult with one of our experts.