IdeaSpace x AIM: Entrepreneurship Development Program – Day 9

Huge companies spending a lot of money just to get their message to you.

Huge companies are afraid of disruptions from startups.

Acquisition Strategy

Funnel Drawing

Traditional Approach

• Awareness > Familiarity > Consideration > Purchase > Loyalty
• Funnel, goes from big to small

Earned Media

• Because customer is satisfied, they will recommend it

Paid Media

• you pay for ad, but conversion rate is small because of trust issues in ads
• so to have higher conversion, you pay higher

Loyalty / Keep Customers

• loyalty program should not be about price or discounts (negative effect on revenue)

Freemium

• the free version is designed as acquisition strategy
• it is about trial
• make money on the upsell on the premium features

The Customer Involvement Grid

• low involvement: can decide quickly

Positioning Statement

What is the special thing you’re offering

In which space do you play

Support reasons for the special thing

Core Messaging and the Message Box

• Engagement Message
  • What problem of theirs can we solve?
• Solution Message
  • Discuss ideal solution (no mention of brand)
• Reinforcement Message
  • Introduce your solution; feature – benefit
• Value Message
  • What will happen if they use your product

Map Message to Buying Process

If cost of acquisition is high, then per customer profitability is low.