October 30, 2022

Trick or Treat?

Here's what so many of you tell me is happening:

  • Annual New Customers 11/1/2018 - 10/31/2019 = 100,000.
  • Annual New Customers 11/1/2019 - 10/31/2020 = 140,000.
  • Annual New Customers 11/1/2020 - 10/31/2021 = 128,000.
  • Annual New Customers 11/1/2021 - 10/31/2022 = 105,000.

What happens in the next twelve months?

Now, some of the decline to 105,000 new customers is because of the unwinding of the COVID-bump.

Some of the decline to 105,000 new customers is because you raised prices for obvious reasons.

Some of the decline to 105,000 new customers is because it is getting much harder to find new customers.

If you ignore the last point because you firmly believe in the first two points, well, next Halloween you will be in for a nasty trick. You can treat yourself, of course, by developing customer acquisition programs that are not channel-dependent color-by-the-numbers endeavors that please vendors.

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