Chapter 7

Acquiring Customers

Growth is a key priority for every business, and acquiring new customers is a major driver of growth. Digital- and social-marketing tools provide new and innovative ways to spur this growth. However, acquisition costs and profitability vary widely across customers and channels, so in this chapter we will focus on two fundamental questions: Which customers should you acquire, and how should you go about acquiring them?

Which Customers to Acquire

In 2016, Chase introduced its new Sapphire Reserve Card with a very attractive offer: a signing bonus of 100,000 points, $300 in travel credit, triple points earned on all travel and dining expenses, and a value of 1.5 times applied to points redeemed on travel. In spite of ...

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