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?

Best Customers Will Hold You Back

Down the road we have somebody who likes to receive the print version of the newspaper. Your best customers (unless you are a fash...