Customer Acquisition

“I think that in a world where engineering is commoditized, and design for the most part is commoditized, the most important thing becomes excellent QA, we can talk about later, and customer acquisition.”

“Well, I think venture debt. Or any sort of debt works really well when you figured out your unit economics around customer acquisition. If you haven't necessarily figured out your unit economics around customer acquisition, I think it can be a bit daunting for…”

“There's a difference between persuading someone to purchase a product and debating with someone who has no intention of ever changing their mind. I wasn't making that my job, which I think a lot of people do. They make it their job to convince the world, and y…”

“Moral of the story, guys, if you don't raise your prices, you won't have any margin. If you don't have any margin, you won't be able to beat your competitors, and the number one rule of business is whoever makes the most money wins because they can just pay mo…”

“If you don't have customers that aren't coming back to you, then you haven't cast a wide enough net of who could be using your product.”

“I think we underestimated the challenges of deploying and customer acquisition, as you say at the scale that we operate at. And in hindsight, I think we should have also been far more scrutinous. Is that a word? We should apply a lot more scrutiny to our custo…”

“Because especially in fintech, a lot of VCs have gotten burned by customer acquisition. So in, in many ways you have to address problems That are unrelated to your business that have been created by other fintech companies.”

“Like customer acquisition is so hard that if you, if you're not really efficient at converting and retaining and monetizing people, you're gonna really struggle on the customer acquisition side.”

“Every B to B SaaS is like growing rapidly, and there is a very shortage of people with the true experience in terms of the customer acquisition, customer retention, digital analytics, et cetera.”

“Consider that most companies limit any affiliate fee they would be willing to spend to five to 10% of sales. Yet, when they are marketing, they use different math. They use LTV math. And all of a sudden, it's acceptable to spend 30 to 50% of revenue on custome…”

“When you spend a lot on marketing, you have to charge more for your product to account for having enough margin such that you're able to spend on marketing while having a, you know, good profitable product. And so that means when you spend a lot of marketing, …”

“So like narrow and deep is great for customer retention and like giving somebody something they can't live without, but For customer acquisition. I actually like the broad”

“It also turns out that when you charge more, you get higher margins and you're able to build a bigger moat. This means if you have higher margins than your competitors, you can pay more to acquire a customer, which means you can acquire all of the customers be…”

“You cannot make it to a hundred million dollars without a true massive acquisition machine. And that means that most of your business will be focused on acquisition.”

“If you can't go find the customers systematically, eventually you got to stop building what you're building and go come up with something else that you can build where you could find.”

“What that will do, though, is it will make customer acquisition more difficult for new entrants, and we can talk more about that later.”

“Frankly, I think it's the only way to build product is to make it endemic to the experience and baking it in is sort of fundamental for a product to grow in a proper fashion.”

“To get to a hundred million in revenue, typically, 70, 80% of all new customer acquisition is coming from one channel.”

“You look at the big e-commerce brands, they were spending 70, 80, 90% of their dollars on customer acquisition.”

“Any product that then generates video as part of the usage automatically has a leg up in, you know, in, in, in customer acquisition.”

“If you kind of brute force spent the marketing to get your few customers, that isn't really clear sign that there's a market need for it. Whereas if you've had, A bunch of inbound beads and people kind of self-serve signing up for it. That's the kind of sign t…”

“That in huge part is because building a business here is really difficult for all the reasons that you might expect. Customer acquisition is really challenging. Once you have your customers, it's very hard to risk score them.”

“If you're able to build a large and diverse set of channels, you typically are displacing other people, and you're able to build up a little bit more of a barrier around a key thing, which is customer acquisition.”

“The way that you actually manage better performance on a customer acquisition basis over time is by reducing your land and accelerating your expand.”

“If you're gonna spend money on Customer acquisition reserve at least five million dollars. That was like a year or two ago, I know.”

“Even if you have a big budgets, I wouldn't spend it all on customer acquisition. You're just not going to get like bang for your buck.”

“I can say that we spend I would say 200,000 per year on acquisition.”

“Anybody who mastered the skill of either recruiting or PR or customer acquisition for startups can leverage that skill at a firm, especially as more and more firms are looking to build platforms that add value.”