“Marketing must be a seduction, not an assault”
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 purhcase, high dollar volume trasnactions, and high liklihood of fuure protiability through up-selling, repeat selling, and cross-selling.
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 business to be per se, but what solid customer research tells you that your customers want your business to be for them. I.e. A direct reflection of your 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?
- 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 Acquisition
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 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
I will expand these notes on Acquisition in due course, but for now, continue with the Conversion process.