April 03, 2016

Buying Brands = A Customer Acquisition Strategy

This ditty (click here) about Alibaba should cause anybody to think about different ways to acquire new customers.

I know, I know, you are a seventy million dollar a year brand producing three million dollars of pre-tax profit, you cannot go out there and buy companies.

Could you look at what companies generating two million or three million a year are doing? Are they complementary to your business? Not complementary at all but interesting enough to think about? Could you buy a company like that? No? Could you invest in a company like that and then learn something about how a newer business manages customer acquisition strategies? Remember, a new business generating a couple million in annual sales does nothing but acquire new customers.

Something to think about?