Customer Acquisition: The Bare Basics

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customer acquisition

- When crafting a 'Buy Page' for your website, the less information that the potential buyer is required to fill out, the better. This minimises the effort they have to put in in order to acquire your product, and will shorten the time gap where they may have second thoughts.

This is also relevant to Buy Pages that are leading to a Freemium or F2P model of buying, a brief explanation of which can be found below...

- Online apps and services often use the freemium model of buying as a means to acquire new customers. Within the freemium framework there are two types of schemes:

1) Enter payment details before a free trial. When the free trial ends, you automatically become a paying customer. This has better conversion rates than the second type of scheme for obvious reasons.
2) Enter payment details after the free-trial. This means that the product has to be very strong to make people go consciously back to the site and put the effort into paying for it.

- Analytics and information mining are a necessary part of determining your customer profile. This will allow you to more efficiently target to niche groups that have a higher chance of buying your product. This hyper-targeted marketing is sometimes called 'The Economy of Bob' as it concerns the individual, not large swathes of the population.

- Email marketing conversion rates are typically very low. The industry average is about
a) Open rate (customers who open the email in their inbox) - 15%
b) Click-through rate (customers who open and follow up links from the email) - 2%

- The advantages of social media marketing (such as Via FB, Twitter and now even Instagram)
HIGHER: Conversion rates.
LOWER: Costs, but also VOLUMES of traffic.

Common means of customer acquisition:
- Free Trials
- Discounts
- Community events (think Google Hangouts, Twitter Q&As)
- Additional paying content
- Bundles with other services or software
- Partnerships with other relevant companies.

KEYWORDS: Landing page, pitch page, buy page, freemium, free-to-play (F2P), Information mining, economy of Bob, acquisition channels, conversion rate (Open + click thru), hypertargeting.

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