September 10, 2017

High Cost Customer Acquisition Example

I submitted my MineThatData Academy Business Simulation to the DMA (and and Internet Retailer) ... they turned the opportunity down (all three did) ... and here's why ... take a look at the email I received from Ascendant Network:

Yes - you can spend $75,000 to achieve "High Level Brand Engagement" at the EMP Lounge. Or just $40,000 at the VIP Party.

A Track Speaking Session is just $60,000 - only 1 available!

Or you can spend $15,000 to host cocktails. Who hasn't dreamed of doing that?

Do you think Kobe Bryant and Tyra Banks paid $60,000 for their speaking opportunity?

It's easy to spend money.

It's hard to be creative. Really, really hard.

This is an example of low-cost customer acquisition (which also applies to best customers). Look at what Teespring sent me on Saturday:

See - there's a little bit of creativity there. Did you know that you can find pizza socks in the laundry 37% faster? I didn't know that.

So you can do the hard work and be creative ... or you can pay $15,000 to host cocktails.

Your choice.

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