March 14, 2017

Top 10 Problems I Observe In My Projects: #8

Problem #10 = New Items Are Too Expensive
Problem #9 = Discounts Drive Down Price Of Existing Winners
Problem #8 = Relying On 1-2 Customer Acquisition Channels


This one comes up all the time as well.
  1. Catalogers = Co-Ops.
  2. E-Commerce = Google + Facebook.
  3. Retail = Mall Foot Traffic.
The best-performing clients have a dozen (+/-) unique customer acquisition channels fueled by a low-cost / no-cost customer acquisition program. They use print and/or radio and/or television and/or Google and/or Facebook and/or pop-up stores and/or sponsorships and/or storytelling and/or a thousand other tactics.

The worst-performing clients do (1) (2) (3) above ... and they complain about (1) (2) (3) above not working. Or they ask what the "next big thing is that is going to scale"?

Diversify!!

Catalogers are struggling mightily because of an over-dependence upon the co-ops. Now that "co-ops don't work", I'm asked "what's next"?

E-commerce growth (outside of Amazon) is slowing ... not surprising that there are only two major customer acquisition channels to focus on either, right?

And we know what has happened to foot traffic in malls.

Diversify!!