The saying ‘it takes money to make money’ is very true when it comes customer acquisition for Education Technology (EdTech) firms. You need to make an investment in areas like branding, promotions, and marketing prior to seeing any returns. This investment is specifically high when using traditional marketing methods like print ads, trade shows, and billboards. The bright side is that you could decrease your customer acquisition costs for Education Technology (EdTech) using Inbound Marketing strategies. Research by Weidert disclosed that Inbound Marketing costs 61% less compared to traditional marketing.
Here are 5 tips to use Inbound for your business to reduce your customer acquisition costs:
1. Identify your key target market
The first step to decreasing customer acquisition costs is to identify the target market you want to sell to. Doing so will help you target your potential buyers and prevent you from wasting money on targeting individuals that aren’t qualified. Buyer Personas are imaginary personas that stand for the ideal clients you intend to target. For instance, you can have ‘Clinician Calvin’ or ‘Director Daniel’. What are their responsibilities at work? What are their objectives? What are their challenges? An extensive understanding of who your ideal buyers are will help you develop a reliable strategy for reaching them.
2. Establish your marketing objectives
From the start, you have to know exactly what you want to accomplish with your marketing initiatives. For example, if you determine that your goal is generating more qualified leads, all your efforts need to be dedicated to marketing to a specific target market, aka your buyer personas. Make sure your goals are SMART (specific, measurable, attainable, realistic, and time-bound). For example, creating 500 leads every quarter is a more specific objective than merely creating more leads. It’s a good idea to start small and boost your targets as you go.
3. Plan content development
Developing educational content that your potential buyers would enjoy reading is the core of Inbound marketing. Once you’ve established your marketing objectives, you could start outlining a content strategy. The content you develop needs to be filled with important information to bring in new visitors to your website and keep your existing leads engaged. This will boost your brand name recognition among both your new and old leads. Nonetheless, be careful not to ramble about your firm! As amazing as your Education Technology (EdTech) services or product is, you first want to build trust with your target market by giving information that relates to the problems they’re experiencing instead of promoting your firm.
Content can be anything from blogs, social media articles, case studies, e-books, webinars, video clips, and whitepapers. Writing guest posts for other respected Education Technology (EdTech) sites could also be a good strategy for getting to a bigger target market. To make it easier for potential customers to discover your content through search engines, make sure to perform Search Engine Optimization (SEO). Do some research to find out which long-tail search phrases are used when your potential buyers are doing their online research. Include these search phrases in your content URLs, headers, paragraphs, meta descriptions. and alt photo messages. This will boost your website in online search and improve your visibility.
4. Nurture your leads through marketing automation
Your leads are probably not ready to buy the first time you connect. They will need more time to seek advice from others, ask questions, and research all available choices. Effective Email Lead Nurturing will help keep your leads engaged until they’re ready to make a buying decision. One of the best methods of doing this is with marketing automation. You could use CRM software like Marketo or HubSpot to automate your emails and social media posts to the ideal target market at the right times. Marketing automation allows you to gather emails from your target market and send them valuable information, like a weekly blog post. This will help your potential customers keep your brand name on their mind and boost the opportunities of you making a sale.
5. Measure your outcomes
You should occasionally review how Inbound marketing is working for your Education Technology (EdTech) firm. A great evaluation will show you which strategies are working and which aren’t. There are many tools and systems that can help you check your effectiveness. For example, BuzzSumo will show you the number of times your content was shared on various social media platforms. Google Analytics will help track metrics like the number of website visitors and bounce rate. Services like Moz and Hubspot will help keep track of your SEO progress. Using your findings, you will have the ability to tweak the Inbound marketing strategies to flawlessly fit your Education Technology (EdTech) business.
The big takeaway
As the supervisor of all work, you might have overlooked the impacts traditional marketing is having on your customer acquisition costs. These marketing strategies not only drain money from your business, but also drain the energy from your marketing group. But with Inbound Methodology, you can bring in the ideal customers to your business and nurture them until they convert to consumers.
We’ve collaborated with several Presidents, CEOs, and Directors to execute Inbound strategies with their marketing and sales groups. You can request a free strategy session now to help you evaluate your assets and get free insights and ideas to decrease your customer acquisition expenses!