Ideal Customer Acquisition Strategies

Mera MedicareBy:-Sourav Kumar MahatoInternational Management Institute Kolkata(PGDM 2015-17)

IntroductionFrom the book Traction:-Start-up growth happens in spurts. Initially, growth is usually slow.Then, it spikes as a useful traction channel is unlocked. Eventually it flattens out again as a channel gets saturated and becomes less effective. Then, you unlock another strategy and you get another spike.

When a Business enter into the customer acquisition they Probably start off by trying random tactics like running a Facebook Ad, writing a Blog Post But this all is considered to be the Old Tactics and these are not Going to Make much of an Impact on the Customer. When we strategies them and trying different tactics, then only this can work out with the customer and we can expect up-and-to-the-right success.

Strategies For Customer

AcquisitionThe Customer acquisition plan should evolve as you grow. In fact, it MUST. What works initially might not work later on, and what doesn’t work now might be worth revisiting in the future.

Goal Driven Process:- Establish The Goal Create a process/System to work within Fill with Strategies Break those down into specific tactics to execute

Customer Acquisition plan

Define the Ideal CustomerDefine Your GoalsDefine your acquisition FunnelKnow your MetricsTrack every thing from almost day

one

Define The Ideal Customer

We will have to identify our customers ideal profile from finding who they are and how to reach them.

If we will be able to know our customers then it will be easier to figure out who are the customers and how to sell them our products.

We will be able to come to know if there is any kind of Misunderstanding between the customer and us. This means that weather there is a miscommunication between customer and us.

Defining the GoalsFrom the Book full scale:-“Determine goals, milestones and priorities. These three tasks make people more productive. Productivity makes better use of your time. Time is directly related to growth. Growth is why we’re here. Therefore, growth is goals, milestones and priorities.”

The goals might be monetary, user count, activity based goal. We know about S.M.A.R.T Goals .this should be applied here and also to focus on more than one goals at a time. For customer acquisition the goal might be to get visitors . Convert more visitors into Leads or convert more Leads into paying Customers

Define Acquisition Funnel

Breaking down the Journey the Customer is making to Pay us. This will help identify where the funnel is Leaky and a result we will be able to identify the Biggest Opportunities for quick Wins.Think the entire Acquisition funnel as Lots of Smaller funnelsExample:-if anyone is planning to run multiple landing pages and he/she is sending traffic to them from SEO, content marketing and paid acquisition, each of those channels are their own funnel to be measured individually.

Know Your MetricsFiguring out our key business metrics is core to the plan.Without knowing our key metrics, we might know “I need to increase traffic” but we aren’t sure what levels we need to get to. When we do know our metrics, we know what numbers we need to hit, and that guides what strategies we’ll focus on to have the best chance of hitting them.But if we’re just starting out, chances are we don’t know these numbers, and that’s fine too.It also tells us how much you can afford to spend to acquire a new customer. So once we start implementing campaigns, we’ll know fairly quickly whether something is worth pursuing or not.

Track every thing from day one

The best customer acquisition plans have measurement strategies organized in advance. Most start-up's don’t begin this process early enough, and they pay for it later.Even if you don’t use the data right away, it will become invaluable when you have the time to dig into it, or start new campaigns in the future and want to see if they have an impact.How do we come know what we need to track? While we can measure just about anything, it’s not a good idea to measure everything: Begin with our goals in mind: prioritize when and what to measure based on

the answers we need to make decisions that will help you grow. Measure against our sales funnel: we will have to make sure that we are

tracking all the steps in our funnel. The AARRR metrics should be tracked at a minimum.

Track to validate experiments: before we run any marketing campaign, we will have to be sure and known exactly how we will measure our success and track those metrics before we start.

ConclusionA customer acquisition plan will gives the best chance of reaching the goals. But the plan is just the beginning. Ability to analyse, execute, and continuously iterate on the plan will set apart the start-up's who grow from the ones who don’t.

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