Once you’ve worked out which customers to target, social investors will wish to know how you will bring in new customers. This is your ‘customer acquisition strategy’.
A key distinction is whether your model is ‘B2B’ or ‘B2C’. In other words, are your customers other businesses (‘B2B’) or are you selling directly to consumers (‘B2C’?). If you are selling to other businesses, your sales team needs to be focused on making connections with the procurement team in those target businesses, and developing a persuasive corporate offer.
This might involve for example drawing up a shortlist of the top ten ideal corporate customers for your business. Then working out who you know who could approach them (perhaps a board member, or someone on your team with relevant contacts). Is there a conference they attend where you can make a connection? How would you make a sale to these top ten customers? Who do you know or could reach out to make the relevant introduction? Can you offer some kind of ‘try-before-you-buy’ type offer?
If your model is B2C, then you need to work out how you’re going to reach individual consumers. This might involve some kind of marketing campaign to foster general awareness, accompanied by a promotion strategy with retailers or distributors to boost customer sales. For example, if you run a website, what kind of strategy will drive traffic to your site? You may also wish to consider promotion strategies with your customers to incentivise them to introduce you to their friends.