No matter how incredible a product or service is, there is no guarantee that potential users and customers will come flocking or even be aware that it exists.
For any start-up, customer acquisition management must be a key part of the business plan.
Customer acquisition management is a set of data driven techniques used to manage the connection between advertising, lead management and customer relationship management to acquire new customers in a closed continuous loop system.
Customer Lifecycle & Acquisition Framework:
Customer Acquisition Management:
Most start-ups focus largely or entirely on social media channels and tools that are native to Facebook and Google Campaign for customer acquisition.
The marketers must rely on measurement and attribution tools to pinpoint the sources of the highest quality customers and zero in on their strongest performers to allocate future budget. Even with a limited budget, spending more time with attribution data will help scale both organic and non-organic traffic and ensure marketing investment consistently comes back… with interest.
Successful customer acquisition is extremely reliant on continuous data-driven optimization and shift from quantity to quality. It is especially driven by ongoing testing and re-adjustment of campaigns with time. Ultimately, the purpose of data in customer acquisition is to identify the trends and patterns that work for the goals.
Not designing an effective customer acquisition plan will leave the start-up guessing, and ultimately wasting money.
The effectiveness of customer acquisition is influenced by
How to measure customer acquisition strategies
Warning: Great Product is a requisite for any strategy to work well