Acquisition channels are any place your customers meet your brand for the first time. They include organic search, paid ad, email marketing, content marketing, social media and paid ad. In other words, they're any platform, strategy or source through which you bring in customers.
To grow or scale as a startup you only need ONE acquisition channel to start. But how do you know which one is best for your business?
The answer is simple: You must discretely test different channels first through a well designed experiment. We will be sharing a framework to support you in evaluating and prioritising acquisition channels over the next few weeks.
Once you have tested different acquisition channels, it's time to evaluate each channel's performance using the KPIs that matter most to your business. I can’t stress enough how important it is to be very clear on KPIs that reflect your current business goals and objectives!
For instance, while one acquisition channel could perform better than another in terms of KPIs like signups or cost per app install, it may not necessarily mean that it will be your best acquisition channel because it might have low engagement rate, low revenue per user (RPU) or high churn rate compared to other channels tested.
The next blog post will be focused on expanding different acquisition channels, their benefits and pitfalls, and how to use them to drive traction.
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