Choosing the Best Customer Acquisition Strategy for Your Business

Mitch Wilder
5 min read

Picture this: you're scrolling through social media and you see a competitor in your industry running successful ads, pushing out content, or hosting a podcast.

They seem to have cracked the code to growth, and you start to wonder, “Should I be doing that too?”

Here’s the problem: When you copy what others are doing, you’re playing their game, on their terms. And they're already a step ahead.

What if I told you there’s a better way?

A way to build a customer acquisition strategy based on your unique strengths, resources, and business stage.

In this guide, I’m going to show you a proven framework that helps you cut through the noise and choose the strategy that’s right for you—not what everyone else is doing.

The Real Problem: Why Following Your Competitors is a Losing Strategy

Here’s what happens with most business owners: They look at their competitors and think, “If it’s working for them, it should work for me.”

But that’s the trap.

Your competitors are already ahead. They’ve been in the game longer, they have more experience, and they’ve likely built systems around what you’re seeing. When you follow them blindly, you’re always behind, trying to compete on their terms.

What you should be doing is playing to your strengths.

Your resources, your stage of business, and your unique audience should dictate your strategy—not someone else’s success. Copying without context is a shortcut to frustration and wasted resources.

So, how do you figure out what’s best for you?

The Traffic Strategy Matrix: Your Blueprint for Success

Every business, no matter the industry, has four core strategies they can use to acquire customers. I call this the Traffic Strategy Matrix.

At its highest level, these four strategies are:

  1. Outreach
  2. Referrals
  3. Content
  4. Paid Ads

But here’s the thing—each strategy requires different resources. Some take more time, others take more money. Some scale easily, while others don’t.

The key to winning is understanding which strategy fits where your business is right now.

The Four Strategies: Pros, Cons, and When to Use Them

Let’s break it down:

A. Outreach
  • Best For: New businesses or those with limited budgets.
  • Cost: Low
  • Effort: High
  • Time: High
  • Scalability: Low

When you’re just starting out, you have time but not much money.

This is where outreach shines.

Cold emails, warm DMs, and cold calls don’t cost much, but they require manual effort.

You’re building relationships one-by-one.

But don’t get stuck here—outreach doesn’t scale well.

Once you’ve validated your offer and made some sales, it’s time to move on.

B. Referrals
  • Best For: Businesses with happy customers.
  • Cost: Low
  • Effort: Low
  • Time: Low
  • Scalability: Low (unless systematized)

Referrals are gold.

They’re the lowest cost, lowest effort way to grow your business, but they rely on one thing...

satisfied clients.

In the early stages, outreach feeds into referrals.

Once you’ve built a customer base, systematize asking for referrals to keep a steady flow of new clients.

C. Content
  • Best For: Businesses ready to build authority and long-term organic growth.
  • Cost: High (time and tools)
  • Effort: High
  • Time: High
  • Scalability: High

Content is your long game.

Newsletter, videos, and social media posts help build trust and establish you as a thought leader.

But the truth?

It takes a lot of time to do it well, and in the early days, that time might be better spent elsewhere.

Once you have a few clients and cash flow, invest in content.

D. Paid Ads
  • Best For: Established businesses with a solid offer and proven messaging.
  • Cost: High
  • Effort: Low
  • Time: Low
  • Scalability: High

Paid ads are the rocket fuel of customer acquisition—but only if you’re ready.

They require a high upfront cost, and the risk is real if your messaging isn’t sharp.

Ads work best when you’ve already validated your offer through outreach, referrals, or content and need scalability.

How to Choose the Right Strategy for Your Business

Now that you understand the four strategies, how do you know which one is right for you?

It all boils down to these key questions:

  • Do you have more time or money? If you have time but little money, start with outreach and referrals. If you have more money than time, lean toward content or paid ads.
  • How important is scalability right now? In the beginning, scalability isn’t critical. You just need clients. That’s why outreach and referrals are perfect. As your business grows and you need more leverage, shift to content and eventually paid ads.
  • What’s your skill level? Can you execute these strategies well? Content, for example, requires skill in writing, video production, or editing. Paid ads require knowing how to run campaigns or paying someone who does.

The Traffic Strategy Matrix helps you align your strategy with your current situation, resources, and goals.

Instead of guessing, you’re making decisions based on where you stand.

The Path Most Businesses Follow: From Hustle to Scale

Here’s the natural progression for most businesses:

  1. Start with Outreach: You have time, so put in the effort to get those first clients manually.
  2. Move to Referrals: Once you’ve worked with clients, leverage their networks for more business.
  3. Invest in Content: As your revenue grows, use content to build your authority and attract more clients organically.
  4. Scale with Paid Ads: When you’ve nailed your messaging and have the budget, ramp things up with ads.

This path allows you to grow steadily, without burning money or time on strategies that don’t fit your stage of business.

Common Pitfalls to Avoid

It’s tempting to jump into strategies like content or paid ads too early because that’s what you see the “big players” doing. But these strategies can quickly drain your resources if you aren’t ready.

  • Contrarian Insight: Don’t mistake visibility for success. Just because your competitor is running ads or putting out content doesn’t mean you should. If you don’t have the budget or time, stick to outreach and referrals until you do.

Matching Methods and Platforms to Your Chosen Strategy

Once you’ve chosen your strategy, the next step is choosing the right methods and platforms. Here’s a quick rundown:

  • Outreach: Cold emails or DMs on LinkedIn work great for B2B. Direct messages on Instagram can work for B2C.
  • Referrals: Set up a referral program, ask clients for introductions, or partner with complementary businesses.
  • Content: If you’re doing short-form video content and your market skews younger, platforms like TikTok and Instagram make sense. For long-form content, think YouTube or blogging.
  • Paid Ads: Decide based on your market. Facebook and Instagram are great for B2C, while Google Ads might work better for B2B.

When to Scale with Paid Ads

Paid ads are only effective when you have:

  1. A proven offer
  2. A validated message
  3. Enough budget to not just run the ads, but sustain them

Ask yourself, “Do I need scalability? Do I have the budget?” If you answer yes, it’s time to invest in ads.

Your Next Step

Instead of following the herd, use the Traffic Strategy Matrix to build a custom path that works for your business.

Whether you’re just starting out with outreach or ready to scale with ads, focus on what makes sense for you.

If you’re still unsure which strategy to pursue, drop your questions in the comments or join us for a flywheel call. Together, we’ll figure out the best strategy for you to acquire more clients and grow your business!

Whenever you're ready there are 3 ways I can help you:

1. Join Flywheel: Trying to grow your business alone isn't fun. That's why I created the Flywheel community. A place where like minded business owners could connect with each other and grow their businesses together. Join us each week for the Flywheel Collaboration call to work on your business and collaborate with others. Flywheel is Free! Click here to join us.

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