There are five parts to the model. The key to generating greater velocity, predictability, and profit is to optimize for the entire model.
While every acquisition process is as unique as the company employing it, there is a common, critical path to follow:
What’s most important here is that you view your customer acquisition process as a single, holistic process, rather than as the combination of specialized, silo disciplines. While the execution of your tactics will focus on the phases of the process, you must be focused on optimizing the whole process and managing constraints/bottlenecks or you won’t generate the results you desire.
A solid foundation starts with clarity around your business & economic model. Winning in the game of business requires that you determine what game you’re going to play. We regularly see otherwise strong businesses with strong people and products struggle or stall because they’re playing by someone else’s rules. Your strategy must align with the context of your target customers. Aligning your processes with where you find your business in the business life cycle reduces friction and disruption.
Your strategy codifies the game you’ve chosen to play and guides the path to win. Playbooks embody the MO of the organization. It’s important to note that every company has a playbook, meaning they all have a way of doing business. The question is, is that way defined, purposeful and visible? The secret to sustainable high-growth rates is developing the structure that enables individuals to continuously execute without having to constantly stop, think, adjust, and act. Well-designed, documented playbooks increase the velocity of your organization without forcing you to go faster.
Technology is an accelerator and enabler. Technology itself is not a solution and doesn’t enable you to do anything. Instead, it enables you to do things faster and more easily (when it’s designed and implemented correctly). A strong foundation combined with a clear playbook ensures that technology delivers on its promise.
A world-class customer acquisition platform is built on a base of data and metrics that are constantly informing and enabling you to see where things are working, and where they’re not.