The Importance of Innovative Customer Acquisition in Ecommerce

– Technology companies in the ecommerce industry are focused on solving problems.
– Current areas of focus include loyalty and membership, attribution and reporting, personalization and gamification, SMS and email, and AI and ML for ads.
– There is a need for more innovation in customer acquisition to drive audience growth and dominate industries.The key action item is to focus on innovating and developing tools that improve customer acquisition at scale in order to dominate the industry and improve the bottom line.The goal of any technology-related company is to solve a problem. There are a few big problems that are going to be facing e-commerce that have already begun, yet I don’t see anyone really viewing them under the proper lens. There are a lot of people working on loyalty and membership right now because it’s cheaper to sell into an existing audience. There are people working on attribution and reporting, which is valuable but has always been a bit messy. There are people working on personalization and gamification of websites via upsells, cross-sells, etc. too. There are people doing SMS and email, etc. There are people that are trying to do AI and ML for ads. The move from companies away from acquisition tools has been pretty interesting to follow. None of it is focused on any new channels for acquiring customers. Fundamentally though, you need to drive an audience, and now more than ever you need to be looking at your unit economics and driving traffic at scale. What we need is more companies ruthlessly innovating on the acquisition side of things. Those that can acquire and grow more customers the fastest tend to dominate industries. If I were a betting person, any tools that help with better customer acquisition at scale are going to be the ones that will actually make a difference on the bottom line moving forward. #ecommerce #marketing #strategy

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top