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Perspectives by GMU Internet Marketing Students

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Acquisition marketing

Blogger: James Clifton

Acquisition marketing is marketing to those who are not existing customers with the purpose of acquiring them as a new customer. An article both agrees and disagrees with this statement. Joanna Lord says “If you had asked me this question a few years ago I might have corrected you and called it ‘customer acquisition’ because that’s where the roots lie.” This is because it was all about acquiring customers and increasing their customer counts. Lord goes on to say that now a days it would no longer be considered “customer acquisition” but rather “acquisition marketing.” This is because it is more than just gaining customers it’s more about acquiring “traffic, engagement, leads, customers, attention, partners, and possibly even companies”(Lord).

What is Growth?

“Acquisition marketing, at its core, is simply driving growth. To be successful you must align your efforts with the growth goals of your company” (Lord). Lord then goes on to mention some points that present challenges.

  1. People like boundaries. People fear change and if you challenge their boundaries they don’t usually like it.
  2. Having too many goals can lead to very few gains.
  3. It’s hard to remain a specialist if you become a generalist.

-This can be interpreted in an example of a small accounting company. If there is a small accounting company that does an acquisition marketing campaign and acquires some clients to manage accounts for but also some clients that you decide you can do financial advising for and with consulting for. This can diminish your specialty of accounting and make you more of a general firm.

These are very relevant points to acquisition marketing. As a company you want to acquire a lot of different thing but you can’t have them all. If you try to gain too much you will spread yourself to thin and might not be able to keep up. For example if you are a small company and you keep acquiring new customers, if you acquire too quickly, your ability to do each project the best that you can might suffer.

Internet Acquisition Marketing

One of the best ways of doing acquisition marketing according to Regali(x) Solutions is through internet marketing. “The obvious goal of an internet marketing campaign is lead generation converting to customer acquisition and retention” (Regalix solutions). This basically means that you have to turn leads into customers. Some of the ways to improve your customer acquisition online is to know the demographics of the visitor. You have to be able to recognize who your prospective leads are and then finish the sale to those leads. “Calculating the number of leads that need to get directed to the website or landing page to make a sale come through would effectively allow you to direct the volume of web traffic methodically through proper use of various internet marketing tools. Furthermore, if too many leads are backing out then it is time to pitch the marketing strategy in a different manner, either by making the deal more attractive or by reworking on the technical issues, if any”( Regalix solutions). The last point is a crucial step that can help you determine the effectiveness of your website. Using the skills we learned in class a company might have to reevaluate their site if their lead numbers and sales generated from it are too far apart.



Rethinking Acquisition Marketing

Blogger: Christina Chao

Getting a consumer’s attention is one of the most difficult aspects of marketing. In this day and age, consumers are so glued to their laptops and phones and tablets that they hardly take the time to look at the world around them. People are now able to take their friends, books, and music with them wherever they go. This means they no longer need to stare at that poster on the subway or listen to that advertisement on the radio in order to pass the time. The technological advances we have made created a new barrier for marketers… But it has also created a new channel of communication for marketers.

In an attempt to keep up with these technological advances and the change in consumer behavior, companies have attempted to unify their marketing attempts across various technological platforms. In The Truth About Tracking Consumers Across Devices, Joshua Koran discusses the advantages and disadvantages of marketing to consumers across both mobile and desktop devices. On one hand, while increasing frequency of your message is important, receptivity to advertisements changes from device to device. Attempting to follow a consumer may cost more time and money than it brings in. In addition, it may actually be limiting the target audience too much. Acquisition marketing is marketing to consumers that do not necessarily have a relationship with the company. Therefore, tracking actions across devices is not necessary. Koran suggests that cross-tracking consumers is better for retention marketing. Instead, marketing across various devices should take the form of channel-specific marketing, in which techniques are tailored to the specific device the advertisement will be viewed on.

Perhaps the fastest growing channel through which to market is the revolution smartphone or mobile device. Consumers use their phone for everything nowadays, from socializing to working to checking the weather. So how do we get them to stop what they are doing and look at your advertisement? According to Avinash Kaushik’s article, Mobile Marketing 2015: Rethink Customer Acquisition, Intent Targeting, the key to is to “rethink acquisition” and “shift from being an interruption to becoming a persistent part of someone’s life.” Kaushik suggests providing value in an immersive brand experience and gives the example of Skullcandy’s mobile app. While Skullcandy makes headphones, its mobile app does not push its users to buy headphones. Instead, it provides information about activities during which one would wear headphones. It delivers an invaluable experience for the app user, while collecting information and learning about its potential customer. A customer who was initially looking for information about surfing learned about a new brand of headphones. And everyday that the client looks at the Skullcandy app icon, the customer is reminded of Skullcandy headphones. He or she may tell his or her friends about the app and the cycle repeats itself. Though the app is seemingly unrelated to Skullcandy’s product, the company has managed to get their name out there. As a result, Skullcandy acquires a new customer and becomes an everyday necessity in the consumer’s life.

As technology has evolved, so has consumer behavior and the art of acquisition marketing. Getting a consumer’s interest is more difficult than ever. The key is to understand your target audience and the various marketing channels they use. It is learning what they find valuable and delivering it in a way that they can no longer go about their day without it. It is at that point you have gained a new customer and you can move on to the retention marketing stages.