Supercharging Customer Acquisition #4: Attracting High-Value Customers

There are more tools than ever for targeting and converting high-value customers. The thing is, their expectations for a fast, streamlined process, coupled with voice search on the rise, it’s a new ballgame. Optimizing for voice-based interactions is becoming essential for capturing leads with purchase intent, so we decided it was time for a quick dive in to see which of the strongest strategies can alloy, supercharging customer acquisition efforts. Plus, with research indicating that a 5% increase in customer retention can boost profits by up to 95%, we’ll cover some retention techniques in this article as well.?

And of course, we have the numbers to back it up. Supercharged customer acquisition may be only one or two perspective shifts away. Read on to learn the “how” behind securing high-value leads.

1. Precision Targeting: Using Data to Find High-Value Customers

Data is just “data” until it’s put to use. Here are some key considerations for making data talk.

• Identify Ideal Customer Profiles (ICPs): According to a study by Salesforce, 79% of marketers say AI-based predictive analytics has improved their ability to find high-value leads by as much as 47%. Using AI to develop data-backed profiles of high-value customers enables precise targeting, reducing acquisition costs. This is one of the things we accomplish with our proprietary Dugout platform.

• Leverage Predictive Analytics: Predictive analytics has been shown to increase conversion rates by up to 50%, as it identifies the prospects most likely to convert based on their behaviors and preferences.

• Retargeting and Look-Alike Audiences: Studies show that retargeting can lead to a 70% higher conversion rate for returning visitors compared to new site visitors. By retargeting and using look-alike audiences, businesses can keep high-value prospects engaged and guide them toward conversion.

2. Personalization in Digital Marketing

You have already heard a lot from us about the power of personalization. But here are a few more impressive stats to get you out of the gate:

• Dynamic Content and Customized Offers: According to Evergage, 88% of marketers say their customers expect personalized experiences, and personalized content has been shown to increase engagement rates by up to 74%.

• Email Segmentation and Automation: Segmented email campaigns have a 14% higher open rate and a 101% higher click-through rate than non-segmented campaigns, making this a powerful way to reach high-value customers with content that resonates.

• Hyper-Targeted Social Media Ads: Personalized ads generate 42% more engagement compared to generic ads, according to Adobe. High-value customers are more likely to engage with hyper-targeted ads that cater to their specific interests.

3. Integrating Voice Search and Voice Interactions

Are you optimized for voice-based search?? With voice search expected to make up 50% of all searches by 2024, businesses that optimize for voice queries are more likely to attract high-value customers who rely on hands-free search for convenience and speed. We found these stats particularly compelling:

• Voice-Activated Call Center Routing: Approximately 72% of customers say that they expect call center representatives to know their details upon calling, and voice-activated routing systems that pull CRM data can help achieve this by efficiently directing high-value customers to the right agents.?

• Voice-Assisted AI Tools for Customer Insights: Voice sentiment analysis is projected to become a $3.8 billion market by 2025. This technology can help call center agents better understand customer sentiment, improving the ability to tailor interactions to each caller’s mood and needs. This is a technology that Centerfield already uses.

5. Utilizing Call Centers for Upselling and Cross-Selling Opportunities

You may not have a call center (although you probably should) but these strategies are useful anytime you get on the phone with a customer or are aiding in a sales process.

• Voice-Enabled Cross-Selling Recommendations: Cross-selling and upselling efforts from call centers can increase revenue by 10-30% on average, with personalized voice interactions being particularly effective at suggesting relevant products and services.

• Proactive Follow-Ups on Voice Inquiries: Studies show that 65% of consumers find proactive follow-up calls helpful, especially when it comes to resolving issues or providing additional assistance.

• Personalized Recommendations Based on Purchase History: Personalized product recommendations drive up to 31% of total site revenue on average, according to Salesforce. For call centers, leveraging purchase history data to make relevant recommendations can significantly boost conversion rates.

6. Measuring Success: KPIs to Track High-Value Customer Acquisition

“What gets measured, gets managed” is a popular quote in the business world, but it’s important to choose the right metrics to measure or you’ll drown in a sea of data. Here are the key performance indicators that can become your lifeboat, wherever you find yourself in the process.

• Customer Lifetime Value (CLV): Companies that use CLV as a key metric in their acquisition strategy see a 33% increase in customer loyalty, as they focus efforts on attracting customers who are likely to stay longer and spend more.

• Voice Interaction Conversion Rate: With voice technology evolving, businesses report up to a 15% increase in conversion rates from voice-assisted interactions, thanks to the convenience and immediacy of voice-based queries.

• Average Order Value (AOV) and Repeat Purchase Rate: The Harvard Business Review found that increasing AOV by just 10% can boost overall revenue by 12-15%. Monitoring AOV and repeat purchase rates allows businesses to see the impact of upselling and retention efforts on high-value customers.

As voice search and interaction technologies become more powerful, it’s easy to get left in the dust, mouth agape. Stay sharp, stay hands on- integrate, update strategies, and you’ll attract high-value customers while also developing them into strong, long-lasting relationships that are the core of profitability.

Additional Stats:

Voice Assistants Growth: As of recent reports, approximately 27% of the global online population uses voice search on mobile, and this number is expanding as voice technology is integrated more deeply into mobile devices (Think with Google)

Voice Search in Local Queries: Nearly 58% of consumers use voice search to locate nearby businesses or inquire about specific business information. Voice searches often serve as a quick way to discover local services and products, and are especially popular among consumers in transit or multitasking (Search Engine Land, BrightLocal)

Accuracy of Voice Search: A 2020 SEMrush study found that, on average, voice assistants like Google Assistant and Alexa can struggle to consistently provide local search results, with a cross-device answer match rate of only about 22%

Most Frequent Use Cases: Voice search is frequently used to check the weather (75% of users in the U.S.), make shopping purchases (48% of UK consumers), and perform quick informational searches such as finding contact details or hours for nearby businesses (Vixen Labs, Statista)

HTTPS for Voice Search SEO: Around 70.4% of websites that appear on voice search results are secured with HTTPS, which is believed to positively impact ranking in voice searches, particularly on Google Home devices (Backlinko)