Customer Acquisition Blueprint

Posted on Apr 19, 2012 - 8:08 AM PST

This guide is based on Mixergy’s course with Juan Martitegui.

After making $6,500 in his business’ first month, Juan Martitegui increased his monthly revenue to $60,000 within a year. It was all done by building a customer acquisition blueprint, so we invited him to teach you how to do it.

Juan is the founder of Mindvalley Hispano, which sells personal growth products to Latin American customers.

Here are the actionable highlights from the course.

1. Get more prospects to sell to people who didn’t know about your business

Juan focused on the cost per lead on his ads because he could measure it with Google AdWords, and he had a gut feeling he could lower it and get more prospects for the same amount of ad spending.

Take Action:
Pick an easily measurable activity that generates new prospects, and focus on improving that activity until your prospects increase by 20%.


2. Convert more prospects to customers to get more revenue from potential buyers

Juan decided to optimize his landing page design, so he tested two landing pages and learned that more people signed up after seeing the page with extra links.

Take Action:
Select an activity that improves your conversion rate, measure it, and optimize it until the rate goes up by 20%.


3. Increase the amount per transaction to grow your sales revenue

Juan explains that Amazon’s strategy of showing recommended products that are related to the products customers have added to their shopping carts gets people to spend more each time they buy.

Take Action:
Choose a pricing or sales activity that can lift transaction amounts, and perfect that activity until your average transaction amount is 20% higher.


4. Ramp up purchase frequency so you’ll make more money

Juan suggests that a software company should propose an affiliate offer of different software products that customers could integrate with the products they recently purchased.

Take Action:
Concentrate on an activity that shortens the length of time between purchases, and improve that activity until purchase frequency goes up by 20%.


5. Repeat Steps 1-4 with new activities to work on sales goals from different angles

If you first tested landed pages to raise your conversion rate, try an additional conversion activity like Juan’s suggestion to follow up longer with prospects.

Take Action:
For each tactic, choose a new activity to measure and improve.


6. Stay the course with Steps 1-5 so improvements will snowball and double revenue

Juan explains that if a business starts out with $100 in monthly revenue and grows by 20% in each of the four main ways, it will bring its monthly revenue up to $207.

Take Action:
Keep trying to optimize new activities to increase your number of prospects, conversion rate, amount per transaction, and purchase frequency by 20% each.


7. Borrow marketing ideas so your marketing campaigns are almost guaranteed to work

Juan emulated decoy pricing after he saw The Economist add a “decoy” item to its product lineup to get customers to select the option it really wanted them to buy.

Take Action:
Look for ideas in marketing books, blogs, and design firm portfolios, and imitate strategies you see established companies use.


8. Delegate tasks to employees so they’ll help you complete your chosen activities

Juan asked his web designer to experiment with different colors and images in order to improve his landing page conversions by 20% within a month.

Take Action:
Assign employees to work on each of the activities you’ve decided to improve, and give them a deadline by which to get a concrete result.


Want to make sure you get results?

Written by Sarah Brodsky, based on production notes by Jeremy Weisz

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