Choosing Customer Acquisition Channels

“A startup is considering three marketing channels: influencer marketing, email marketing, and pay-per-click advertising. Assume the following hypothetical costs and conversion rates: influencer marketing costs $1,000 per campaign with a conversion rate of 5%, email marketing costs $200 per month with a conversion rate of 10%, and pay-per-click advertising costs $0.50 per click with an estimated 500 clicks per month and a conversion rate of 2%. Evaluate the costs and benefits of each channel in terms of customer acquisition, providing specific examples for each. A new food delivery startup is exploring two potential marketing channels: social media advertising and local community events. Assume social media advertising costs $300 per month and is expected to reach 1,000 potential customers with a conversion rate of 3%, while hosting a local community event costs $1,500 and is expected to attract 300 attendees with a conversion rate of 10%. Assess the costs and benefits of each channel for acquiring new customers, including potential challenges and advantages.”