Customer Acquisition Strategies

Customer Acquisition Strategies:

Have you ever received a sample of a product, tried it out, and enjoyed it enough that it led you to purchase the product? If the answer is yes, then you have been subject to a successful attempt of the ‘Customer Acquisition Strategy’.  I will admit, I have been subject to this strategy in my life.  When I was younger, I distinctly remember the release of “Sunny D” into the market.  This orange flavored drink made its mark in my life when a sample found its way to my mailbox.  As a young child, finding this drink quite enjoyable led me to everyone else’s mailbox on my street in search for more.  It definitely succeeded in its acquisition strategy in my life; sadly it could not retain it, as I was too young to make the purchases.  I’m sure all of you have a similar story with a different product.  This is just one-way companies search for new customers.  If they released the campaign now, with the use of the Internet, how do you think it would have been applied?

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHly4YZ61RDcvCFSeCUalD01HF1VSgzvNe6GJvnZawQ4laUe4sqdlkPkqQmxLkcDovyqSIV6HoBVm9ScuRWckuaql7BRIK33yB-OGp_88CbwEXCWZrgX3gUqrMuVkBsoLIdyDqw0lYkxM/s400/sunny_d.jpg

With the introduction to the Internet, and the rapid growth it has taken in the past decade, these strategies to acquire new customers have become more creative as well as competitive.  Our textbook gives quite the detailed explanation on various types of these technics, and a quick search on YouTube gives you more videos from experts and those claiming to be experts than you can watch in a week. 

http://www.netelixir.com/images/online_customer_acquisition

So which option should a company use for their product? Social media, Email promotions, online advertising, Search engine marketing, Affiliate programs, Portal deals or viral marketing?  Now if you are reading this blog, you have successfully made it to an academic level of marketing that should tell you the answer to this wonderful question.  It all stems back to the customer! The above diagram illustrates the cycle in which marketers evaluate which strategy to use online. 

It is nearly impossible to encompass and explain every strategy used with Customer Acquisition.  But in a few short words, remember that essentially, it is just a fancy way of saying “How to acquire new customers”. 

So now that you know what it means, feel free to post your own Sunny D story, and looking back on it, how does it make you feel? Be sure to include whether or not the company was also successful in retaining your business over the years.

Thank you,

Donald Porter