The strategy outlined at Starbucks' investor meeting in December is pegged to a "mobile ecosystem" designed to boost customer acquisition and spend-based rewards with personalized consumer offers and convenient ordering perks.
But by strategically marrying inexpensive, remnant local advertising with a well-thought out digital campaign — then spreading retargeting on top, like the icing on a wedding cake — online businesses can dramatically boost customer acquisition.
How do you use coupons to boost customer acquisition, engagement and retention?
CRM initiatives have resulted in improved competitiveness by boosting customer satisfaction and retention rates [10 12].
Republic Project has already forged a direct deal with Capitol One and a number of other big brand names, as well as striking up partnerships with companies like Pandora and Mojiva to help boost early customer acquisition.
The promise of open banking is that banks can deepen their relationships with existing account holders as well as boost new customer acquisition.
What's more, plugging that capability into a social network via Facebook Pages, for example, extends the reach and can presumably provide a boost to customer acquisition.
While they agree that brands create financial value for companies by reducing customer acquisition costs, boosting loyalty among existing customers, and even hiring "star" employees, they believe that coming up with a precise estimate of brand equity is not possible because the impacts of the brand vary during the customer life cycle and therefore can't be pinned down.
However, in the near future, Graduway will be looking to strengthen its commercial relationship with companies like LinkedIn, which could provide the customer acquisition boost it will need if it ever hopes to hit scale.
The company also runs a Free App of the Day program to boost downloads, as well as other tools for customer acquisition, including the ability to manage pricing and sales from an online dashboard.
Insider believes it can help lower customer acquisition costs through increased efficiency, while also boost existing conversion rates through customization.
