Lean AI

Chapter 10. Different User Acquisition Strategies

Ways to Think About User Acquisition Strategy

The cost of acquiring new customers continues to increase significantly year over year as more brands are spending heavily on advertising to find new customers. Every time you pick up your smartphone, turn on a device screen, or open an app, you are being bombarded with advertisers trying to get your attention to help sell you something. Your attention is literally worth billions of dollars because that’s how much money companies are spending on their user acquisition efforts to try to target you across different devices including mobile, desktop, TV, radio, and digital voice assistants to convert you into a new customer.

The fact is that human attention is a finite resource. There are only 24 hours in a day (no matter who you are), and every day there are more products seeking their attention. With endless demand and limited supply, human attention is probably the most valuable resource in the world. This only gets more challenging as the channels we use to live, work, learn, and play—Google, Facebook, Instagram, YouTube, Amazon, Netflix, Pandora, Fortnite, and more—continuously vie for our attention to keep us addicted to their apps and tied to their ecosystems.

The process by which you bring new users or customers to your business is customer acquisition. The goal, for any business, is to create sustainable and systematic customer acquisition strategies that keep up with industry ...