Acquisition and Project Management,
April 2, 2009
Customer Acquisition
Acquisition programs must begin with customer insight.
From that insight, and depending on back-end / retention tracking, you will build a picture of the the customer profile that gives you the best Lifetime Value.
Those are the clients that you ideally want to aim at in your front-end acquisition campaigns.
Your A segments are those that represent traits or characteristiscs which result in high frequencey of purchase,project management, high dollar volume transactions, and high liklihood of fuure profitability through up-selling, repeat selling, and cross-selling. More at performance management,
Once you have completed customer profile matrices, you are able to accurately organize your marketing programs for acquisition, and later, retention.
Positioning for Acquisition
Your company’s value proposition should not reflect what you want your businse to be per se, but what solid customer research tell syou your customers want your business to be for them. A direct reflection of yoru customers needs and wants.
Positioning is what you do to the mind of the customers, not the product.
List all the variables you can think of that influence purchase decisions and brand loyalty.
Then prioritize this list according to the Customer - Offer Matrix for the specific acquisition program you are working on.
what types of rewards or recognistion are most likely to appeal?
What physical need does your product fill?
What emotional needs does your product fill? More at management meetings,
What social need does your product fill?
What are the pimrary decision factors assocaited with your brand?
What lifestyle issues affect consumer attitudes
What market adaptation sequence applies to each customer group?
Remove The Risk For Acquisitionbusiness development,
Then create as low barrier to entry as you can. For acquisition programs, especially with high involvement or high risk purchases, you must work hard to prove that your company, product, spokesperson - is credible and trustworthy.
How much ’selling’ is required depends a great deal on the level of involvement associated small business management software, with the purchase decision.
High involvement - Car, home, enterprise software
Low involvement - Snacks, movie tickets, etc.
High risk - financial loss, safety, value,
Low risk - few, if any, sacrifices.
Your prospects beliefs, frustration and desires must be considered when creating your marketing funnel.
Don’t try to sell something until you know how to emotionally involve the prospect.
Don’t have copy written until you have identified the objective of this piece of copy in moving the prospect one step closer to being involved with your product by exchanging their time and money for the benefits of what your product offers.
Don’t make the mistake of trying to entertain your prospects with fancy graphic work, cute slogans, or humurous adverts.
Key Question to ask: What are the inherent emotions involved between what your product does, and what your prospect is experiencing in their life that makes them a suitable candidate for your product?
Then make the first step easy for the prospect.
If you are marketing online, your costs are cheaper, and you can create a multi-step sales process that has a higher overall conversion rate, than trying a 1-step sales process that makes your offer immediately, and loses the prospect if they don’t immediately buy.More at small business resources,
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