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What Dropbox Taught Me About How To Acquire Customers for Just $1.25

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Posted 12th July 2016 at 05:10 PM by jenmidas

Let’s face it…

Growing a business is hard work.

It’s not always sunshine and rainbows and first getting your business to even “become a business” is the hardest part.

Believe it or not, but Dropbox just a few years ago, before they became the world’s love child, was on their way to the dog-house, the dead-zone, the huge pit of killed businesses because of one thing…

The Cost of Customer Acquisition

As the story goes, when Dropbox first launched they tried every strategy under the sun to acquire users and customers for their brand new app.

They tried PPC, SEO, buying banners, and all of the “traditional” ways to grow their business.

Turns out, that their customer acquisition cost were sky high and running as high as $400 per customer.

Not bad if you’re selling a high ticket product or service, but when product is $9/mo ($97/year), reality quickly sets in that you’ll go broke in no time.

So Plan B was in full effect.

And after sitting down with Sean Ellis, they came up with a plan.

And then their Refer-a-Friend strategy… was born!

Well, not really born (it’s been around forever), just implemented in a very clever way so that Dropbox could acquire users and customers for literally pennies.

Continue HERE
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