Suzanne Taylor Marketing Strategy Consulting
Building Businesses Through Customer Driven Innovation
Customer Acquisition Marketing
How can you acquire the right customers in a cost effective way? How can you create awareness and learning among your target market? Who really is your target market? How can you persuade them to buy? How can you improve the purchase decision process?
Three key Customer Experience elements drive Customer Acquisition:
Awareness: Gain awareness of your product among target customers.
Learning: Inform prospects about your unique and meaningful benefits.
Persuasion: Convince prospects to buy your products.
Awareness is important because if a prospect has never heard of your product, they will never want it. Learning is a normal phase of the purchase decision process. For more complex and costly products, this phase will take longer and require more work of the marketer. Persuasion is what finally convinces the prospect to buy, via advertising, promotions or some other motivation, often word-of-mouth recommendations.
In order to measure how well you are doing in these areas, it is essential to identify the metrics that matter most. The metrics chosen will not only help to determine goals but will also be the yardstick by which success and progress is measured. The metrics must measure something that is important to business results and can be measured accurately, consistently, and efficiently. Some key Customer Acquisition metrics include awareness levels, information sources used to make purchase decision, and cost of customer acquisition.
Customer Acquisition cannot be approached in a vacuum. It is driven by the other two elements of the Customer Experience Model—Product Wow and Customer Retention. The product piece determines what customers truly need, want and expect from the product as well as what benefits and features your product delivers. Marketing communications targeted at acquiring customers need to use this information. Customer Retention also drives Customer Acquisition because it gives insight into which customers to target and how much you’re willing to spend to acquire them.
About Suzanne Taylor
Suzanne Taylor is a marketing consultant who helps companies acquire more customers, create great products, and improve customer retention. Her area of expertise is building businesses through customer driven innovation. A member of Stanford University's faculty, she has taught seven marketing classes through Stanford Continuing Studies and holds Stanford AB and MBA degrees. She co-authored a book titled Inside Intuit: How the Makers of Quicken Beat Microsoft and Revolutionized an Entire Industry published by Harvard Business School Press. She also instructs and serves on the Advisory Board for U.C. Extension in Silicon Valley's Marketing Certificate program, teaching marketing and executive education classes.
Taylor’s client list includes Intuit, Adobe, PayCycle, Yahoo!, Palm, Microsoft, and several high-tech startups. Taylor worked for Intuit, Inc. for eight years in a variety of marketing roles including Quicken product manager, customer insight, and corporate marketing. She also worked in brand management at the Clorox Company leading marketing efforts for Fresh Step cat litter and Formula 409 spray cleaner brands. Taylor has led product teams through the full product development life cycle and has managed all elements of the marketing mix, both online and offline. Symantec selected Inside Intuit for a company-wide management book club discussion.
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