STARTUPS: The classic question for any new business is how are you going to get customers or users. Worryingly, many startups often do not have a definitive answer, whilst others are too focused on what they think will get them the most attention. But there is another way. Read more on Get2growth.
Most startup marketing focuses on hunting for new customers, rather than trying to "farm" customers to build sustainable long-term growth.
Hunters rely on new customer acquisition strategies to constantly replenish their customer base, moving onto the next prospect once the deal is done.
The energy, buzz and "vanity metrics" associated with "capturing new prey" makes hunting a tempting option for most startups. Yet farmers drive retention and build lifetime value through constant nurturing, fertilization and re-sowing.
So what works best?
Read more on Get2growth
NB:Farming image via Shutterstock.