The single most overrated marketing metric, and the metric that I believe is most often associated with short-term thinking, is customer acquisition. That is, the process of bringing on new customers by having them make their first purchase, download a mobile app, sign-up for a free trial, initiate a subscription, purchase a single product, or do anything else that results in a brand new customer. Now of course, it’s certainly important to attract customers. And for startups it should be the #1 priority, because they are still trying to figure out who their ideal customer is. But beyond that early stage, it’s only one part of a complete marketing strategy. And as a business matures, obsession with customer acquisition often pulls valuable attention away from other metrics that are critical to long-term growth.
So, this video will address three things. First, why obsession with customer acquisition is almost always a sign of short-term thinking. Second, the alternative metric that many businesses mistakenly turn to as an alternative. And finally third, the metric that may be the single most underrated aspect of marketing today.
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Content by Rick Kettner
Produced by Kyle Trienke
Shot in the ReadAmp Studio
#marketing #business #entrepreneurs
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