Customer Acquisition Explained In 4 Photos.

Tonight I have the honor to address a group of Sovereignty Company Inc entrepreneurs who are set to make their mark in the fashion industry. The topic is "Customer Acquisition." So, I have been thinking a lot about the subject.

The traditional approach has always been > ? Identify the target audience and where they are. ? Create quality messaging/content ? Track + Measure. Rinse and repeat.

The problem with the traditional approach is that it is a brand-side mindset. It does not reflect a consumer's perspective. If one is selling clothing, chances are the consumer already has clothes. This is based on my observations. I don't see any naked people walking around looking to buy clothes. This holds for many product categories.

If you are a new-to-market product, you must find a way to make the prospective customer pay attention. That still needs to take into consideration their mindset. Many things grab our attention. But they don't make us take out our credit cards. The truth is that no one buys anything just to have it. They buy things because they are a bridge to a destination. It helps the person achieve a goal.

A new suit may be the bridge to a unique career opportunity. Choosing the correct cocktail may reflect on our tastes and induce admiration. A club membership validates. But what if you are a new clothing label? Or a new liquor label? Or a new club? People already know what established brands offer. Why should they risk anything?

So, here is Customer Acquisition from the customer's side, explained in 4 photos.

At first no one knows you. Your "brand" has no awareness. No track record. Anyone who purchases it must take a leap of faith that it will perform as it promises. That it will be a bridge to success.

As your brand builds traction and starts attracting a few customers it evolves into less of a leap of faith. There is still a lot of uncertainty but less than before.

At this point the growth stage is accelerated. There are a lot of positive reviews and people are seeking the brand. It has become an actual brand.

At this stage no one has any doubt that your brand is the one to have to succeed. It is solid. Now all you need to do is manage the growth.

This is Customer Acquisition explained from the customer side, in 4 photos.

As always I hope you find my content useful and actionable. I look forward to your questions, comments and messages.