Ann: Market Update - BNPL officially launched, page-166

Hope Jimmie loves marketing because marketing is everything. I like that the website is only just up and far from finished, but he’s focusing on marketing instead. Getting the message out cost effectively and word of mouth to spread the idea is literally the ONE thing that matters. If you can get customers to talk about your service then your cost per customer acquisition can literally be decimated to next to nothing. People will talk about your service with their friends for social currency. The rest is all easy (fixing endless e-commerce problems no doubt). The marketing strategy, a message that spreads and resonates with people, is the hardest part of any business. If you can win at customer acquisition, then you win, and you win big. (Also must deliver on your product offering, to ensure customer retention, but that’s not that hard if you have the right team and systems in place, and know the basics on how to treat customers etc).