Unlocking the Potential of Emerging Acquisition Channels: A Guide for Marketers

Unlocking the Potential of Emerging Acquisition Channels: A Guide for Marketers

In today's ever-evolving digital landscape, marketers are constantly on the lookout for new and innovative ways to reach their target audience. With the rise of emerging acquisition channels, such as Clubhouse, TikTok, and Poparazzi, marketers are faced with the question of whether or not to invest their time and resources into these platforms. In this article, we will explore the factors to consider when choosing, testing, and scaling emerging acquisition channels, and provide actionable advice for marketers looking to make the most of these opportunities.

One of the key factors to consider when evaluating an emerging acquisition channel is the level of overlap between the customer problem, channel strengths, and company goals. By analyzing these three components, marketers can determine if there is a natural fit between their brand and the emerging channel. For example, if we take the case of Spotify considering investing in Clubhouse, there is clear overlap between the two platforms as they both focus on audio-based entertainment. This suggests that internally, Spotify may be keeping a keen eye on the role Clubhouse may play in access, discovery, and community-driven audio.

However, it's important to note that not all emerging channels will have this level of overlap. In the case of Poparazzi, a photo-based platform, and Spotify, the lack of channel overlap makes it less likely for Spotify to invest resources in this particular emerging channel. It's crucial for marketers to carefully evaluate the inherent nature of the emerging channel and assess its compatibility with their brand.

Another important aspect to consider is the DNA of the channel itself. This includes factors such as whether the channel is entirely new or an expanded offering within an existing platform, the level of channel adjacency to your current category, the growth stage of the channel, and how the channel can be monetized. Understanding these attributes can help marketers determine the feasibility and potential of the emerging channel.

When it comes to channel maturity, being an early adopter can have its advantages. First movers have the opportunity to be ahead of their competitors and gain early efficiencies in a new channel. However, this also comes with risks, as there may be limited data and automation available for optimization. On the other hand, fast followers can learn from the successes and failures of the first movers, allowing them to approach the emerging channel more strategically. The key is to align your company's mover profile with the resources and culture for exploration.

Additionally, it's important to assess the foundation of your growth team and existing channel mix. If you have a solid foundation with multiple channels driving growth, you may have the capacity to explore new channels. However, if your resources are limited or your existing channels are not optimized, it may be wise to prioritize those areas before diving into a new channel.

Based on these considerations, here are three actionable pieces of advice for marketers looking to make the most of emerging acquisition channels:

1. Evaluate the overlap: Before investing time and resources into an emerging channel, assess the overlap between the customer problem, channel strengths, and company goals. This will help determine if there is a natural fit for your brand.

2. Understand the DNA of the channel: Consider the key attributes of the emerging channel, such as whether it is new or expanded, its adjacency to your current category, its growth stage, and how it can be monetized. This will provide insights into the potential of the channel.

3. Align with your company's profile: Assess your company's mover profile, resource allocation culture, and growth and channel foundation. Determine if you are better suited to be a first mover, fast follower, or calculated settler. This will help align your exploration with your company's capabilities and goals.

In conclusion, emerging acquisition channels present both opportunities and challenges for marketers. By carefully evaluating the overlap, understanding the DNA of the channel, and aligning with your company's profile, you can make informed decisions on whether to invest in these emerging platforms. Remember, it's not just about being trendy, but rather finding the right fit that aligns with your brand and goals.