Why Customer Acquisition is Dangerous
Listen to this post! Click play to hear George & Mary-Lynn on The BIGG Success Show Podcast (Duration 5:48)
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Is it dangerous to think about customer acquisition? We say yes – it may have been fine in the past but the best customers today can’t be acquired.
[George] As a money guy, I loved it when I first heard the term “customer acquisition.” I could easily wrap my mind around the concept. But I’ve come to realize it’s a way of thinking which hurts the bottom line today.
We think the concept is dangerous because you can’t “acquire” customers. They can’t be bought. They can’t be owned.
[George] I learned that the hard way: My biggest customer replaced us, but not with a competitor. They got bought out and the new owners brought the service we had been providing in-house. They did it themselves.
If you’re with us – if you agree that customer acquisition is a dated concept, what can you do?