Lowering the Cost of Customer Acquisition

Image: Santa's Wonderland at Bass Pro Shops

Corporate Challenge: Using value creation to lower customer acquisition costs.

Ironbound Strategy: Customer acquisition costs naturally decline when a brand constantly creates value for their customers, employees, and society.

Ironbound Action: Missouri based Bass Pro Shops have an in-house Santa and Christmas display at all of their stores during the holiday season.  In an effort to create value for their customers, with a free photo with Santa, the retailer attracted a significant number of brand-new customers that did not want to wait in long lines at a mall for a photo with Santa.  Creating value for current customers has the beautiful side effect of attracting new customers, and lowering customer acquisition costs.  Creating value for customers is a surefire way of increasing revenue, and empowering the brand in society.

​* Bass Pro Shops operates 94 Bass Pro Shop stores, and had $8B in revenue last FY.  In 2017 they acquired Cabela's for $5.5B.  Cabela's operates 82 stores; now with an in-house Santa and Christmas Display.