Customer acquisition and retention

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Customer acquisition and retention

  1. 1. CUSTOMER CENTRIC SALES PROCESS FOR STARTUPS CUSTOMER CENTRIC SALES PROCESS FOR STARTUPS
  2. 2. TOTAL REVENUE USER BASE REVENUE PER USER (Based on conversion rate)Month 1 XX YS XX$Month 2 XXX YS XXXX$ …….. ……...Month 6 XXXXXXX YS XXXXX$ Gross Revenue XXXXXXXXXX$
  3. 3. TOTAL REVENUE USER BASE REVENUE PER USER (Based on conversion rate)Month 1 XX YS XX$Month 2 XXX YS XXXX$ …….. ……...Month 6 ?????? YS XXXXX$ Gross Revenue XXXXXXXXXXX$
  4. 4. How do you attract your customers to you site ?How they are going to use it for first time ?There are three main channels throughwhich some one can find your site  They find it themselves  They find out through the media  They find it from friends
  5. 5. Ask your self Which channels are most appropriate for my business? How do I minimize the acquisition cost for my channels?
  6. 6. Ensuring there are no holes in your fishing netHow effective are you in converting Users toCustomersEach type of web startup has its own metricsIt need not be sales alwaysFor instance for Twitter we can define fewmetrics which monitors conversion rate as % of users who follow someone % of users who have followers % of users who tweet 5 times a day
  7. 7. Basic principlesRemoval of RequirementsTake a hard look at every question you are asking people and decide whathas to be kept, what can be removed, and what can be deferred until later.Clarity of RequirementsA lack of clarity in form labels, input fields, or actions can cause people tomisinterpret requirements, thereby leading to errors or failedsubmissions.Indication of RequirementsIndication of what is or isn’t a required in a form can have ameaningful impact on conversion
  8. 8. Love your customerAre you ready for a long standing relation withcustomerNeeds a conscious effort and work if you ever hope tokeep the romance alive.
  9. 9. Common symptoms that helps you in identifying you haveRetention issuesWhen a user says“I have nothing to do here ““ I don’t see my friends here ““They havent build what they have said ““ Oh! I keep forgetting coming here”“Iam waiting for this feature for a long time”Few tipsAlways keep customer engaged (eg Review system in Amazon)Focus on communityHear the feedback
  10. 10. http://steveblank.com/2011/05/10/the-lean-launchpad-at-stanford-%E2%80%93-the-final-presentations/http://steveblank.com/2011/05/10/the-lean-launchpad-at-stanford-%E2%80%93-the-final-presentations/http://steveblank.files.wordpress.com/2010/10/business-model-canvas.jpghttp://blog.imranghory.org/startup-experiences-what-ive-learnt-part-1-ushttp://www.matthewmamet.com/2011/02/02/startup-marketing-lessons-ubiqi-health-part-1/http://giffconstable.com/2009/12/what-is-your-customer-acquisition-strategy-startup-marketing-tactics/http://www.slideshare.net/bokardo/designing-for-social-tractionhttp://www.slideshare.net/DavidSkok/customer-acquisition-monetization-keys-to-your-business-planhttp://freecrmstrategies.files.wordpress.com/2009/11/aipee_pyramid_beta-5.pnghttp://www.forentrepreneurs.com/startup-killer/http://www.startuplifeblog.com/2010/03/08/the-importance-of-customer-acquisition-costs-for-startups/http://steveblank.com/2010/02/22/no-accounting-for-startups/http://customerecosystem.com/http://www.armchairfounder.com/2009/03/word-on-user-acquisition.htmlhttp://customerecosystem.com/

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