Now, please take this infographic with a grain of salt ... there's a lot of theory and unsubstantiated numerical wizardry going on here ... click here for the article/chart.
The point isn't to argue or defend the chart ... the point is to get us to think about low-cost customer acquisition.
As catalogers, we cling to high-cost customer acquisition. We love to pay co-ops and Google money for new customers. It's easy. It's predictable. It scales ... we can hire one person to acquire new customers via co-ops and search ... one person!
A lot of what we're going to be asked to do in the future is like the old-school, two-step programs. Remember those? We'd advertise with a blow-in, allowing the customer to request a catalog ... this request got the customer on our customer file, where we'd market to the customer in the future.
Our future includes a lot of "two-step" activity ... using social/mobile as a "prospect list", eventually converting prospects into buyers, with luck. At first, this won't appear to "scale", it will seem like a lot of work for very little payback.
It sure seems like we're headed in that direction though, doesn't it?
Subscribe to:
Post Comments (Atom)
-
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
-
Here's a common dynamic in my projects ... see if this happens at your company. Your average price point is $40.00. Customer response...
-
There's a fraction of the population who says "nobody wants to work". Well, don't tell that to this guy, who manned a busy...
Superb, brilliant weblog structure! I like your blog post Low-Cost Customer Acquisition and method of writing,
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDelete