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If you don’t have tons of cash and aren’t funded, these are the two most profitable strategies

When you're trying to promote something that costs very little money, especially consumer products, it's very difficult to acquire customers with paid advertising profitably. If you don't have tons of cash and you're not funded, then the two most profitable strategies for acquiring customers, you get word of mouth, which is referrals, is not just having a very good product, which is important, but reminding and encouraging people to share it.

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Key takeaways

  • When you're trying to promote something that costs very little money, especially consumer products, it's very difficult to acquire customers with paid advertising profitably.
  • If you don't have tons of cash and you're not funded, then the two most profitable strategies for acquiring customers, you get word of mouth, which is referrals, is not just having a very good product, which is important, but reminding and encouraging people to share it.
  • The big thing is that if you don't have a lot of LTV on your customers and you just require a lot of them, then you have to go with the more viral, more grassroot ways.

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  1. 0:00
    Abschnitt 1 When you're trying to promote something that costs very little money, especially consumer products, it's very difficult to acquire customers with paid advertising profitably.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

1 segments

0:00When you're trying to promote something that costs very little money, especially consumer products, it's very difficult to acquire customers with paid advertising profitably. If you don't have tons of cash and you're not funded, then the two most profitable strategies for acquiring customers, you get word of mouth, which is referrals, is not just having a very good product, which is important, but reminding and encouraging people to share it. The second way is through affiliates, which means other businesses or groups that have your desired audience. So, the difference between a referral is one customer tells another customer. An affiliate is somebody who has a bucket of people who are just like your ideal customer. The big thing is that if you don't have a lot of LTV on your customers and you just require a lot of them, then you have to go with the more viral, more grassroot ways. Make it good enough that it benefits the customer, A, and B, that the affiliates actual thing becomes more valuable with the addition of your thing, too.