In the competitive e-Business environment, the cost of customer acquisition is increasing day by day and touching to sky high values. In order to optimise costs and still get right set of customers acquired, it becomes important to understand the markets first and take the right step for customer acquisition.
The markets can be divided as two types like New or Complex Market AND Existing or Small Markets. And, a customer acquisition can be done through a SELF-SERVICE mode (typically on internet) and LEAD-GENERATION using Sales Team. Startup Genome Team proposed that if a right strategy of customer acquisition is applied based on market type, interesting business models evolve like never before….
- The Social Transformer
In a new or complex market environment, companies still rely on self-serviced customer acquisition by offering new ways for people to interact. The products offered by such companies should have a network effect to penetrate in the market.
e.g. eBay, Skype, Airbnb, LinkedIn, Facebook, Twitter, YouTube, PayPal
- The Challenger
In a new or complex market environment, where companies have to targets small number of high paying customers, a self-serviced customer acquisition does not work. Companies need to deploy sales team for lead generation and customer acquisition.
e.g. Oracle, Salesforce, MySQL, Red Hat, Jive, Cloudera, Yammer
- The Automator
In an existing and established market environment, a number of companies can target customers through automation of a manual process, thus resulting in a self-serviced mode of customer acquisition.
e.g. Google, Dropbox, Slideshare, Zynga, Basecamp, Kayak
- The Integrator
Similarly in a small, yet existing market, companies target for early monetization through subscriptions, by creating leads through sales team.
e.g. Intuit, Square, Adobe, Mixpanel, Zendesk, Flowtown