1. Customer Acquisition
By Peter Baskerville
7/07/2019

2. How did they get their early customers?
Initial Business Scan

3. Customer Acquisition
The process of bringing new customers to a particular brand, product or service.
Doing the least amount of work, and spending the least amount of money, to get as many customers as possible to ‘into the fold’.

4. Acquisition costs $ either way
Customer Acquisition
Convince to switch
Acquisition costs $ either way
Your time – 10%
Promotion costs
Educating new
Giving free or discounted trials

5. Inbound Vs Outbound Strategies
Attracts and asks Permission
Seeks and Interrupts

6. Inbound Vs Outbound Strategies
Investing your time in creating worthwhile and valued resources.
Customers are attracted to the business to follow the valued resources.
Constantly paying money for advertising and promotions
Customers buy only for the life of the promotion.
Inbound
Outbound

7. Inbound Vs Outbound Strategies
Communication – tell (O) Vs engage (I)
Customers – sought out (O) Vs attracted to you (I)
Value-add – Nil (O) Vs Excellent value (I)
Seek to – sell (O) Vs build relationships (I)
Costs - $ (O) Vs time (I)

8. Inbound Marketing = Website
Content marketing
Search engine optimisation
Marketing
Copywriting
Conversion rate optimisation
Social Media Marketing
Analytics

9. Inbound Marketing Platforms
Content marketing – Quora, Youtube, Blogs
Search engine optimisation – Google SEO
Marketing - MailChimp
Copywriting – Copyscape, Dictionary.com and Thesaurus.com
Conversion rate optimisation - Ubounce
Social Media Marketing – Facebook, Twitter, Pinterest, Scoop.it,
Analytics – Google Analytics

10. The sales funnel Get Known – organic or paid Excite – Social media
Check-out – visit website
Exchange $
Comments, address, download free trial, subscribe to RSS updates or newsletter
Introductory product, paid subscription or membership, low commitment offer, well known, no barriers, value-packed, low cost kit, clear path to up-sell

11. LTV – Customer Lifetime Value
Haircut every $15
In the area for 2 years
Variable costs $10 per haircut
Contribution to overheads/profits: 15 – 10 = 5 (Gross profit 33% i.e. 5 ÷ 15)
LTV = 2yrs x 12mth x $5 contribution = $120 LTV
How much could you afford to spend to acquire this customer? First haircut FREE?
“Make the customer – not just the sale”

12. Initial Business Scan SYOB - 2015 Convenience Store
Online freelance writer
CAFE
Personal Trainer