Bigger Is Better: How to Scale Up Customer Acquisition Smarter
While we’re all focused on delivering our holiday plan, every CMO I’ve spoken with in the last three months is focused on the same things. In 2016 “we need to achieve greater scale” — in other words, to get bigger. It would seem for sure, bigger is better. Bigger is the American way. Bigger sales, bigger profits, bigger staff and teams, bigger assortments, and bigger margins. Yes — bigger it seems is much better to CEO’s, CMO’s and board members everywhere.
"The Onceler" from Dr. Seuss’s "The Lorax" succinctly said: "... I’m figgering on biggering."
For marketers, new customer acquisition is the most effective way of to grow the organization “bigger.” It’s the lifeblood of growing organizations, and is generally considered a sign of a business's overall health.
Yet customer acquisition can be resource and budget intensive, even if an solid value, and marketers require effective more intelligent approaches to achieve greater scale while maintaining budget guidance.
So as you lay out plans for 2016 and how you’ll scale your business “bigger” — and hopefully better as well — it likely makes sense to think through the most effective ways to drive scale. Leveraging customer data with ever increasing intelligence is the common thread from some of the best strategies I’ve worked with brands on successfully over time.
Advertising is being increasingly automated, and over time, it’s expanding across web, mobile, and now television and “over the top” television (think web-based TV — where a programmatic buy may land your ads on Netflix one day soon). Programmatic display advertising is largely however a web based phenomenon. It adds data and certain controls to your ability to target ads that are very different than the traditional “insertion order” contracts of yesteryear where you were locked into a certain number of ads for a certain amount of time at a fixed cost. Now you can choose your targeting criteria using oceans of third party data sets that are overlaid through cookie exchange.