SlideShare a Scribd company logo
1 of 78
Download to read offline
NSF I-Corps
      The Lean LaunchPad

            Lecture 5
      Customer Relationships
How Do You Get/Keep/Grow Customers?




                                      Version 6/13/12
Customer Relationships

How do you Get, Keep and Grow Customers?
© 2012 Steve Blank
Customer Relationships
Physical & Web Mobile Are Different




                                      © 2012 Steve Blank
Customer Relationships
Physical Products – Get Customers




                                    © 2012 Steve Blank
Customer Archetypes
                   Drive Get/Keep/Grow
                       Lab Manager: Brian

• What’s their role?
   – How this person is evaluated / promoted /
     compensated?
• Who are they?
   – Buyer’s name
   – Position / title / age / sex
• How do they buy?
   – Discretionary budget (name of budget and
     amount)
• What matters to them?
   – What motivates them?
• Who influences them?
   – What do they read/who do they listen to?
Paid Demand Creation Activities
              “Paid” Media

   Demand
   Creation
                  •   Public Relations
                  •   Advertising
                  •   Trade Shows
                  •   Webinars
                  •   Email marketing
                  •   On-line SEM
                  •   Biz Dev
Free Demand Creation Activities
          “Earned” Media

   Demand
   Creation   •   Publications in journals
              •   Conference speeches/papers
              •   Educational seminars
              •   Public relations
              •   Blogging / Sharable content
              •   Social Media
              •   Communities
Customer Relationships
Physical Products – Get Customers




                                    © 2012 Steve Blank
Customer Relationships
Physical Products – Get Customers



                       CAC =
               Customer Acquisition Cost




                                    © 2012 Steve Blank
Customer Acquisition Cost versus
           Sales Complexity


               No Touch      Light Touch    High Touch                        Field Sales
Freemium                                                   Field Sales
              Self-Service   Inside Sales   Inside Sales                       with SE’s



        Rough Estimates of Cost of Customer Acquisition (CAC)
  $0-           $50 –         $1,000 -       $3,000 -      $25,000 –          $75,000 –
  $10           $200           $2,000         $8,000        $75,000           $200,000




                                                               Source: David Skok Matrix Partners
Customer Relationships
Physical Products – Keep Customers




                                     © 2012 Steve Blank
Customer Relationships
Physical Products – Keep Customers




               Attrition/Churn
                                     © 2012 Steve Blank
Customer Relationships
Physical Products – Grow Customers




                                     © 2012 Steve Blank
Customer Relationships
Physical Products – Get/Keep/Grow




        LTV = Customer Lifetime Value
                                    © 2012 Steve Blank
Customer Relationships
Web/Mobile Products– Get   Customers




                                   © 2012 Steve Blank
Web/Mobile Products– Get   Customers


             CPM = cost per thousand hits




                                     © 2012 Steve Blank
Web/Mobile Products– Get   Customers


             CPA = Cost per Action




                                     © 2012 Steve Blank
SaaSProducts– Get Customers


 Organic Traffic,
SEM, Other Paid
    Sources         Registered Visitors

                                                       Raw Leads
                            Qualified Leads

                                      Inside Sales
                                                     Closed Deal




                                                                   © 2012 Steve Blank
Web/Mobile Products– Keep Customers
Our Example Marketing Funnel


Quick Marketing Calculation
     50%       amount of traffic that is organic versus paid
    $1.50      cost per paid visitor (Google AdWords, etc.)
$         0.75 Cost per visitor (both paid and unpaid)
      3%       visitors convert to raw leads
     20%       number of raw leads that turn into qualified leads



             1 qualified lead
             5 raw leads required
           167 visitors required
          $125 Cost of visitors (also = Cost per qualified lead)


                                                             Source: David Skok Matrix Partners
Our Example Marketing Funnel


Quick Marketing Calculation
     50%       amount of traffic that is organic versus paid
    $1.50      cost per paid visitor (Google AdWords, etc.)
$         0.75 Cost per visitor (both paid and unpaid)
      3%       visitors convert to raw leads
     20%       number of raw leads that turn into qualified leads



             1 qualified lead
             5 raw leads required
           167 Visitors required
        $125Cost per qualified lead

                                                          Source: David Skok Matrix Partners
Our Example Marketing Funnel



Cost per Qualified Lead                   $125
Leads to closed deal                     10
Marketing Costs per closed deal         $1,250




                                  Source: David Skok Matrix Partners
We Can Compute CAC and LTV


                                                 Excludes people costs
Lead Gen costs per deal     $          1,250      (Cost per qualified lead x no of leads
                                                 required per closed deal)

Selling costs per deal      $          1,620     Excludes cost of sales management
                                                 Excludes people costs in marketing, and
Total CAC                   $          2,870     sales management.
                                                 (CAC= Cost to Acquire a Customer)
                                                 Calculated by dividing average monthly
Total LTV                   $         16,000     gross profit per customer (ARPU x Gross
                                                 Margin ) by the churn rate



      This excludes people costs in marketing, and sales management costs




                                                                 Source: David Skok Matrix Partners
Balancing CAC/LTV in a SaaS model




         LTV            >3x           CAC

         Months to
        recover CAC     <12 months
        Required for Capital Efficiency




                                            Source: David Skok Matrix Partners
What Investors are Looking For


A well balanced business model




                                    Monetization
                                           (LTV)



 Cost to
Acquire a
Customer
  (CAC)

                                 Source: David Skok Matrix Partners
The Balancing Act
            •   Viral effects
            •   Inbound Marketing
            •   Free or Freemium
            •   Open Source
            •   Free Trials
            •   Touchless conversion
            •   Inside Sales
            •   Channels
            •   Strategic partnerships

Cost to Acquire a Customer                               Monetization
           (CAC)                                     (LifeTime Value LTV)



                                         •   Scalable Pricing
                                         •   Cross Sell/Upsell
                                         •   Product line expansion
                                         •   Lead Gen for 3rd
                                             parties

                                                             Source: David Skok Matrix Partners
The Balancing Act

              •   Viral effects
              •   Inbound Marketing
                                               • High Churn Rates
              •   Free or Freemium
              •   Open Source                  • Low customer
              •   Free Trials                    satisfaction
              •   Touchless conversion
              •   Inside Sales
              •   Channels
              •   Strategic partnerships

Cost to Acquire a Customer                                  Monetization
           (CAC)                                       (LifeTime Value LTV)



            • Field Sales                  •   Scalable Pricing
                                           •   Cross Sell/Upsell
            • Outbound                     •   Product line expansion
              Marketing                    •   Lead Gen for 3rd parties



                                                                  Source: David Skok Matrix Partners
Customer Relationships
Web/Mobile Products– Keep Customers




                                 © 2012 Steve Blank
How Churn affects LTV




• Average customer lifetime in months =


1 / Monthly Churn


                                   Source: David Skok Matrix Partners
How Churn affects Lifetime

Months          Lifetime vs Churn Rate
 120
          100
 100

  80

  60                       50
  40
                                         20
  20

  0                                                   Monthly
                                                       Churn
          1%               2%            5%
                                              Source: David Skok Matrix Partners
How Churn affects LTV

Lifetime Value




                                        Monthly
                                         Churn
                           Source: David Skok Matrix Partners
Impact of lowering Churn
                                                                      Cumulative Net Profit
                Net Profit                          $7,000,000
$1,200,000
                                                    $6,000,000

$1,000,000                                          $5,000,000

                                                    $4,000,000
 $800,000

                                                    $3,000,000
 $600,000
                                                    $2,000,000

 $400,000
                                                    $1,000,000

 $200,000                                                  $-




                                                                  Month 1
                                                                            Month 3
                                                                                      Month 5
                                                                                                Month 7
                                                                                                          Month 9
                                                                                                                    Month 11
                                                                                                                               Month 13
                                                                                                                                          Month 15
                                                                                                                                                     Month 17
                                                                                                                                                                Month 19
                                                                                                                                                                           Month 21
                                                                                                                                                                                      Month 23
                                                                                                                                                                                                 Month 25
                                                                                                                                                                                                            Month 27
                                                                                                                                                                                                                       Month 29
                                                                                                                                                                                                                                  Month 31
                                                                                                                                                                                                                                             Month 33
                                                                                                                                                                                                                                                        Month 35
                                                   $(1,000,000)
       $-

                                                   $(2,000,000)
$(200,000)
                                                   $(3,000,000)

$(400,000)
                                                   $(4,000,000)
             Churn 1.25%   Churn 2.5%
                                                                                           Churn 1.25%                                                          Churn 2.5%



• Impact of lowering the churn rate is felt more heavily in the later years, as expected
• It has a significant impact on the long term profitability of the business
                                                                                                                Source: David Skok Matrix Partners
Churn

• 1% to 2.5% churn per month is acceptable
• Higher than that, you are filling a leaky bucket
  – Need to understand why you have low customer
    satisfaction and address the problem




                                      Source: David Skok Matrix Partners
Customer Relationships
Web/Mobile Products– Grow Customers




                                 © 2012 Steve Blank
Customer Relationships
Web/Mobile Products Get/Keep/Grow




                                    © 2012 Steve Blank
Ag Robot
Customer Relationships Example
Demand generation plan and budget

• Word of mouth generation
     – 2 systems for “Demo day events”
     – 2 systems for customer demos
     – 4 x 30K each = $120,000
• World Ag Expo Booth
     – 1 x 40x40 corner booth with demo
     – Hold press event breakfast
     – $ 15 K (booth, banners, hotels)
• Magazine campaign
     – 3 ads in 2 magazines
     – Goal – get 2 articles on us
     – 2 x $ 10K + Ad agency = 30K
• Total $165 K
“You prove that it works and everything else is easy. Distribution is not that
complicated in farming.” – Wyatt Duncan, Integrated Crop Pest Control
Medical Device
Customer Relationships Example
Nsf online lecture 5 customer relationships
Key Opinion
Leaders (KOLs)
Key Opinion
Leaders (KOLs)
Key Opinion
Leaders (KOLs)
Key Opinion
Leaders (KOLs)
Key Opinion
Leaders (KOLs)
Key Opinion
Leaders (KOLs)
Nsf online lecture 5 customer relationships
Housing App
Customer Relationship Example
• We ran a Facebook ad to test actual willingness2
  to pay for this service




                                                     49
• To test willingness to pay we used three        2
  identical ads with three different landing pages




                                                      50
• To test willingness to pay we used three        2
  identical ads with three different landing pages

          Ad            Sign-ups            Clicks           Ad spend

   Free                     0                 23                $25

   $1/household             0                 25                $25

   $1/user                  0                 24                $25


   • Unfortunately, test results only proved users did not trust our site
     for payments
       • Facebook traffic on this campaign was on our page for 4
          seconds on average
       • Roommate campaign had a 1:37 site time average
   • Outstanding question: can we win trust in other ways and then
     engage users to pay rent through us?

                                                                            51
• Customer archetype: Sara

                How she searches
                 Wants to be efficient (will use a broker if doing a
                  search on her own is too painful)
                 Asks friends for recommendations

                What Matters to Sara
                 Wants to live in a fun place that is safe
                 Doesn’t want to overpay
                 Doesn’t have much time to hunt for a place
                 Live with someone she trusts (moving to DC)

                Influences
                 Where friends go out/live
                 Work location




                                                                        52
Online Dating
Customer Relationships Example
What We Did: Landing Page + Web App
What We Found: High referral traffic

  4 day progress report




                          Overall Signup progress


                                       1258
                                                    31 filled 5-
                                       136          min survey


                                       10.8%
What we did: Targeted women, all couples            Demand generation test


Hypothesis: Women-in-relationships are likelier to click
through, irrespective of distance status

Tested for $30 Facebook click through & conversion from FB
impressions
                                     Ad-1    Ad-3




                                            Ad-2                    Ad-4
What we found: women click more
...................................but not clear who will pay!

              Couples will pay subscription if they find more      Subscription model test
    1         sharing during free trial valuable

            LDRs                                 1                Takeaway: “More
                                  6                               sharing” without
                                                  Paid            convenience will have to
                                                                  be free.
           SLRs                   4
                                          Good if free




            Women likelier to click through irrespective of        Demand generation test
   II
            distance status
                                      Click
        LOCATION        Impressions Through Men                  Women         Women-in-rel
                                      rates
                              87140
What we found: Clicks, no web app usage               Demand generation test

Funnel: “Couples” campaign
                    $ 29.7 this week

    304,286                        0.01 c
    impressions


         122 uniques            0.35 c/new
         85 new

                                              24.6% conversion
                30 sign-up         0.99 c
                clicks
                                          but one used web app
Online Sales
Customer Relationships Example
Year 1           Web funnel                          Year 5


  100 000 hits   Referenced to our web site       300 000 hits

  50%                                                   70%
                  Fill out savings calculator
  20%                                                   30%
                     Send request to sales
  30%                                                   30%
                     Reconnection with viable
                           customer
  80%                                                   80%
                            Visit to site
  10%                                                   20%
                             Close sale
Total                                           Total
Revenue
1.44 million                                    Revenue
                                                18.14 million
Mobile App
Customer Relationships Example
Success Depends on Virality> Churn
Ratio of early stage viralityrate to churn rate = 2.00x
Success Depends on Virality>Churn
Ratio of early stage viralityrate to churn rate = 1.50x
Success Depends on Virality>Churn
Ratio of early stage viralityrate to churn rate = 1.0x
Demand creation via website

        1                     2            3




“Not a landing page”    Doesn’t show the
No Indonesian version       product
Demand creation via website -
                results
             Clicks                               CTR
100                    74         2.00%                     1.56%
                 68                                 1.25%
 50    22                         1.00%   0.59%

  0                               0.00%
       1          2     3                  1            2    3
             People need to use the product
             CPC for us to maximize Conversions per click
                                     learning
1.5   1.34                        6.00%
                                                            4.05%
  1                    0.62       4.00%             2.94%
                0.54
0.5                               2.00%
                                          0.00%
  0                               0.00%
       1         2      3                  1            2    3
Software Reference Tool
Customer Relationships Example
AdWords Testing
AB Testing Results




0% conversion           42% conversion        75% conversion      32% conversion

•   Original Peaya website has 66% conversion rate
•   Conversion defined as people clicking the download button on the landing page
•   Experiment still underway; too few data points for drawing conclusions
Google &Facebook campaigns


• Keywords: free endnote, reference manager, pdf
  manager, Itunes for digital content, I tunes, manage
  pdf, organize paper, paper manager, citation
  manager, paper citation, cite pdfs
• 24 impressions, 2 clicks on googleadwords
• Clicks on free endnote and organize paper
• No Facebook response
• 1 Post on ResearchGate drew 7 visitors
We’re “a little” viral
             12% of sign-ups from referrals
             14 of 117 new registrations came
             from referrals by 3 people from Jan
             1 to Feb 1.

             Referral bonus promoted in tutorial
Collaboration doesn’t “pop”…. yet
                  “Rate & Discuss” is least
                  interesting tutorial screen so far

                  However:
                  1) we can test different messages
                     (ie “collaborate”)
                  2) experiment is slightly biased in
                     ordering, we need further testing
Customer Relationships Example
Search Keywords




Lesson Learned:
Very little search traffic -> a “missionary” sales effort
Highly Competitive Keywords




Lesson Learned:
AdWords (paid SEM) is not going to be an efficient channel with these
keywords
Medical Device
Customer Relationships Example
ChannelIncentives

                                                                                  VP

                                      All Institutions
               Out-patient care/                            Per Service       High Value
                home setting                              Revenue Model       Therapies



Hospitals                               Private                            Dosing flexibility
                                   Hospitals, specialty
                                         clinics                            Efficient patient
Pain Clinics                                                                management



               In-patient care/                              Per Diem
                hospitalization                                           Pharmacoeconomics
                                                          Revenue Model
                                     HMO, ACO, Non-
                                     profit, University
                                        Hospitals
Demand Creation
                                 Patients/Advocacy
                                      Groups

             Conferences /                           Trade magazines / PR
               Societies                                 conferences
         $20k/event * 6 events                       $20k/event * 4 events




                                                                 Research Journal
One on one Meetings
 $150k/year travel
                                 Adoption                          Publications
                                                                       (Free)




                             Budget ~ $300 k/year

More Related Content

What's hot

Network Effects
Network EffectsNetwork Effects
Network Effectsa16z
 
5 Growth Hacking Metrics
5 Growth Hacking Metrics5 Growth Hacking Metrics
5 Growth Hacking MetricsSyafrizal Adi
 
The Annual Planning Process & Social/Digital Media
The Annual Planning Process & Social/Digital MediaThe Annual Planning Process & Social/Digital Media
The Annual Planning Process & Social/Digital MediaGemma Craven
 
Zuora Sales Deck
Zuora Sales DeckZuora Sales Deck
Zuora Sales DeckRyan Gum
 
Startup Metrics for Pirates
Startup Metrics for PiratesStartup Metrics for Pirates
Startup Metrics for PiratesDave McClure
 
Product Management 101 for Startups
Product Management 101 for StartupsProduct Management 101 for Startups
Product Management 101 for StartupsDan Olsen
 
The 1 Week Minimum Viable Product (MVP)
The 1 Week Minimum Viable Product (MVP)The 1 Week Minimum Viable Product (MVP)
The 1 Week Minimum Viable Product (MVP)Alexis Roqué
 
Determining cost structure & revenue streams
Determining cost structure & revenue streamsDetermining cost structure & revenue streams
Determining cost structure & revenue streamsgistinitiative
 
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...Daniel Nilsson
 
Service Design Thinking
Service Design ThinkingService Design Thinking
Service Design ThinkingMarc Stickdorn
 
Value Proposition Design
Value Proposition DesignValue Proposition Design
Value Proposition DesignYves Pigneur
 
Customer Development/Lean Startup 092409 class 5 and 6
Customer Development/Lean Startup 092409 class 5 and 6Customer Development/Lean Startup 092409 class 5 and 6
Customer Development/Lean Startup 092409 class 5 and 6Stanford University
 
Actionable Customer Development
Actionable Customer DevelopmentActionable Customer Development
Actionable Customer DevelopmentAndreas Klinger
 
What is Comms Planning?
What is Comms Planning?What is Comms Planning?
What is Comms Planning?Julian Cole
 
Vision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryVision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryBlaz Kos
 
New is Easy but Right is Hard: Hacking Product Management
New is Easy but Right is Hard: Hacking Product ManagementNew is Easy but Right is Hard: Hacking Product Management
New is Easy but Right is Hard: Hacking Product ManagementBernard Leong
 
Business Model Camp, Hub Berkeley, CA
Business Model Camp, Hub Berkeley, CABusiness Model Camp, Hub Berkeley, CA
Business Model Camp, Hub Berkeley, CAAlexander Osterwalder
 
Marketing Communications Planning Template
Marketing Communications Planning TemplateMarketing Communications Planning Template
Marketing Communications Planning TemplateJan Lohmann, PhD
 

What's hot (20)

Network Effects
Network EffectsNetwork Effects
Network Effects
 
5 Growth Hacking Metrics
5 Growth Hacking Metrics5 Growth Hacking Metrics
5 Growth Hacking Metrics
 
The Annual Planning Process & Social/Digital Media
The Annual Planning Process & Social/Digital MediaThe Annual Planning Process & Social/Digital Media
The Annual Planning Process & Social/Digital Media
 
Zuora Sales Deck
Zuora Sales DeckZuora Sales Deck
Zuora Sales Deck
 
Startup Metrics for Pirates
Startup Metrics for PiratesStartup Metrics for Pirates
Startup Metrics for Pirates
 
Product Management 101 for Startups
Product Management 101 for StartupsProduct Management 101 for Startups
Product Management 101 for Startups
 
Bus model and cust dev jan 2013
Bus model and cust dev jan 2013Bus model and cust dev jan 2013
Bus model and cust dev jan 2013
 
The 1 Week Minimum Viable Product (MVP)
The 1 Week Minimum Viable Product (MVP)The 1 Week Minimum Viable Product (MVP)
The 1 Week Minimum Viable Product (MVP)
 
Determining cost structure & revenue streams
Determining cost structure & revenue streamsDetermining cost structure & revenue streams
Determining cost structure & revenue streams
 
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...How to Create a Strong Value Proposition Design for B2B - It's all about the ...
How to Create a Strong Value Proposition Design for B2B - It's all about the ...
 
Service Design Thinking
Service Design ThinkingService Design Thinking
Service Design Thinking
 
Value Proposition Design
Value Proposition DesignValue Proposition Design
Value Proposition Design
 
Customer Development/Lean Startup 092409 class 5 and 6
Customer Development/Lean Startup 092409 class 5 and 6Customer Development/Lean Startup 092409 class 5 and 6
Customer Development/Lean Startup 092409 class 5 and 6
 
Actionable Customer Development
Actionable Customer DevelopmentActionable Customer Development
Actionable Customer Development
 
What is Comms Planning?
What is Comms Planning?What is Comms Planning?
What is Comms Planning?
 
Vision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryVision, hypotheses and customer discovery
Vision, hypotheses and customer discovery
 
New is Easy but Right is Hard: Hacking Product Management
New is Easy but Right is Hard: Hacking Product ManagementNew is Easy but Right is Hard: Hacking Product Management
New is Easy but Right is Hard: Hacking Product Management
 
Business Model Camp, Hub Berkeley, CA
Business Model Camp, Hub Berkeley, CABusiness Model Camp, Hub Berkeley, CA
Business Model Camp, Hub Berkeley, CA
 
Peloton Teardown
Peloton TeardownPeloton Teardown
Peloton Teardown
 
Marketing Communications Planning Template
Marketing Communications Planning TemplateMarketing Communications Planning Template
Marketing Communications Planning Template
 

Viewers also liked

Lecture 5 customer relationships 120411
Lecture 5 customer relationships 120411Lecture 5 customer relationships 120411
Lecture 5 customer relationships 120411Stanford University
 
Business Model Workshop: the Startup Metrics
Business Model Workshop: the Startup MetricsBusiness Model Workshop: the Startup Metrics
Business Model Workshop: the Startup MetricsKeith McGreggor
 
Lean Startups in Japanese Companies takashi tsutsumi_masato_iino
Lean Startups in Japanese Companies takashi tsutsumi_masato_iinoLean Startups in Japanese Companies takashi tsutsumi_masato_iino
Lean Startups in Japanese Companies takashi tsutsumi_masato_iinoStanford University
 

Viewers also liked (8)

Engr 245 session 07 partners
Engr 245  session 07 partnersEngr 245  session 07 partners
Engr 245 session 07 partners
 
E245 dcveritas week7
E245 dcveritas week7E245 dcveritas week7
E245 dcveritas week7
 
E245 personallibraries week7
E245 personallibraries week7E245 personallibraries week7
E245 personallibraries week7
 
E245 agora week7
E245 agora week7E245 agora week7
E245 agora week7
 
Lecture 5 customer relationships 120411
Lecture 5 customer relationships 120411Lecture 5 customer relationships 120411
Lecture 5 customer relationships 120411
 
Business Model Workshop: the Startup Metrics
Business Model Workshop: the Startup MetricsBusiness Model Workshop: the Startup Metrics
Business Model Workshop: the Startup Metrics
 
E245 autonomow week7
E245 autonomow week7E245 autonomow week7
E245 autonomow week7
 
Lean Startups in Japanese Companies takashi tsutsumi_masato_iino
Lean Startups in Japanese Companies takashi tsutsumi_masato_iinoLean Startups in Japanese Companies takashi tsutsumi_masato_iino
Lean Startups in Japanese Companies takashi tsutsumi_masato_iino
 

Similar to Nsf online lecture 5 customer relationships

Lecture 5 Customer Relationships.pptx
Lecture 5 Customer Relationships.pptxLecture 5 Customer Relationships.pptx
Lecture 5 Customer Relationships.pptxGelmelinaLeaLepitenH
 
Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Suzy Bureau
 
Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Suzy Bureau
 
Kontaktpunkt analyse 2013 bo sannung
Kontaktpunkt analyse 2013 bo sannungKontaktpunkt analyse 2013 bo sannung
Kontaktpunkt analyse 2013 bo sannungHusetMarkedsforing
 
Customer Acquisition & Monetization - Keys to your Business Model
Customer Acquisition & Monetization -  Keys to your Business ModelCustomer Acquisition & Monetization -  Keys to your Business Model
Customer Acquisition & Monetization - Keys to your Business ModelDavid Skok
 
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...Successful Website Marketing - Buyer Personas, Google Analytics and Google We...
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...Brian Bluff
 
Lean Startup Basics - Evidence Based Entrepreneurship
Lean Startup Basics - Evidence Based EntrepreneurshipLean Startup Basics - Evidence Based Entrepreneurship
Lean Startup Basics - Evidence Based EntrepreneurshipKelly Schwedland
 
The Bleeding Edge of Social Media Measurement
The Bleeding Edge of Social Media MeasurementThe Bleeding Edge of Social Media Measurement
The Bleeding Edge of Social Media MeasurementKami Watson Huyse, APR
 
Differential Value Proposition presented by GE and Valkre
Differential Value Proposition presented by GE and ValkreDifferential Value Proposition presented by GE and Valkre
Differential Value Proposition presented by GE and ValkreBMAChicago
 
Acquisition marketing leads via the cloud march 13
Acquisition marketing leads via the cloud march 13Acquisition marketing leads via the cloud march 13
Acquisition marketing leads via the cloud march 13iCumulus
 
The SaaS business model
The SaaS business modelThe SaaS business model
The SaaS business modelDavid Skok
 
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingConvincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingHanapin Marketing
 
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...Stephen Davis
 
How to build a viable business model?
How to build a viable business model?How to build a viable business model?
How to build a viable business model?tlesselin
 
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingConvincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingKevin Dieny
 
Prove Your Marketing Impact: The Fundamentals of Marketing Attribution
Prove Your Marketing Impact: The Fundamentals of Marketing AttributionProve Your Marketing Impact: The Fundamentals of Marketing Attribution
Prove Your Marketing Impact: The Fundamentals of Marketing AttributionMarketo
 
Zerobyte Presentation
Zerobyte PresentationZerobyte Presentation
Zerobyte PresentationRajesh Mondal
 
Bdc r+r presentation
Bdc r+r presentationBdc r+r presentation
Bdc r+r presentationRalph Paglia
 

Similar to Nsf online lecture 5 customer relationships (20)

Lecture 5 Customer Relationships.pptx
Lecture 5 Customer Relationships.pptxLecture 5 Customer Relationships.pptx
Lecture 5 Customer Relationships.pptx
 
Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12
 
Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12Building a predictable marketing model 02.21.12
Building a predictable marketing model 02.21.12
 
Kontaktpunkt analyse 2013 bo sannung
Kontaktpunkt analyse 2013 bo sannungKontaktpunkt analyse 2013 bo sannung
Kontaktpunkt analyse 2013 bo sannung
 
Customer Acquisition & Monetization - Keys to your Business Model
Customer Acquisition & Monetization -  Keys to your Business ModelCustomer Acquisition & Monetization -  Keys to your Business Model
Customer Acquisition & Monetization - Keys to your Business Model
 
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...Successful Website Marketing - Buyer Personas, Google Analytics and Google We...
Successful Website Marketing - Buyer Personas, Google Analytics and Google We...
 
Lean Startup Basics - Evidence Based Entrepreneurship
Lean Startup Basics - Evidence Based EntrepreneurshipLean Startup Basics - Evidence Based Entrepreneurship
Lean Startup Basics - Evidence Based Entrepreneurship
 
The Bleeding Edge of Social Media Measurement
The Bleeding Edge of Social Media MeasurementThe Bleeding Edge of Social Media Measurement
The Bleeding Edge of Social Media Measurement
 
Differential Value Proposition presented by GE and Valkre
Differential Value Proposition presented by GE and ValkreDifferential Value Proposition presented by GE and Valkre
Differential Value Proposition presented by GE and Valkre
 
Acquisition marketing leads via the cloud march 13
Acquisition marketing leads via the cloud march 13Acquisition marketing leads via the cloud march 13
Acquisition marketing leads via the cloud march 13
 
The SaaS business model
The SaaS business modelThe SaaS business model
The SaaS business model
 
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingConvincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
 
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...
Business Development For Startups - Part 1 - Choosing and Managing Sales Chan...
 
How to build a viable business model?
How to build a viable business model?How to build a viable business model?
How to build a viable business model?
 
Measuring the Virtual Sales Skills that Matter
Measuring the Virtual Sales Skills that MatterMeasuring the Virtual Sales Skills that Matter
Measuring the Virtual Sales Skills that Matter
 
Leansanity final 2013 berkeley
Leansanity final 2013 berkeleyLeansanity final 2013 berkeley
Leansanity final 2013 berkeley
 
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on AdvertisingConvincing Your Boss(es) to Confidently Spend (more) on Advertising
Convincing Your Boss(es) to Confidently Spend (more) on Advertising
 
Prove Your Marketing Impact: The Fundamentals of Marketing Attribution
Prove Your Marketing Impact: The Fundamentals of Marketing AttributionProve Your Marketing Impact: The Fundamentals of Marketing Attribution
Prove Your Marketing Impact: The Fundamentals of Marketing Attribution
 
Zerobyte Presentation
Zerobyte PresentationZerobyte Presentation
Zerobyte Presentation
 
Bdc r+r presentation
Bdc r+r presentationBdc r+r presentation
Bdc r+r presentation
 

More from Stanford University

Team Networks - 2022 Technology, Innovation & Great Power Competition
Team Networks  - 2022 Technology, Innovation & Great Power CompetitionTeam Networks  - 2022 Technology, Innovation & Great Power Competition
Team Networks - 2022 Technology, Innovation & Great Power CompetitionStanford University
 
Team LiOn Batteries - 2022 Technology, Innovation & Great Power Competition
Team LiOn Batteries  - 2022 Technology, Innovation & Great Power CompetitionTeam LiOn Batteries  - 2022 Technology, Innovation & Great Power Competition
Team LiOn Batteries - 2022 Technology, Innovation & Great Power CompetitionStanford University
 
Team Quantum - 2022 Technology, Innovation & Great Power Competition
Team Quantum  - 2022 Technology, Innovation & Great Power CompetitionTeam Quantum  - 2022 Technology, Innovation & Great Power Competition
Team Quantum - 2022 Technology, Innovation & Great Power CompetitionStanford University
 
Team Disinformation - 2022 Technology, Innovation & Great Power Competition
Team Disinformation  - 2022 Technology, Innovation & Great Power CompetitionTeam Disinformation  - 2022 Technology, Innovation & Great Power Competition
Team Disinformation - 2022 Technology, Innovation & Great Power CompetitionStanford University
 
Team Wargames - 2022 Technology, Innovation & Great Power Competition
Team Wargames  - 2022 Technology, Innovation & Great Power CompetitionTeam Wargames  - 2022 Technology, Innovation & Great Power Competition
Team Wargames - 2022 Technology, Innovation & Great Power CompetitionStanford University
 
Team Acquistion - 2022 Technology, Innovation & Great Power Competition
Team Acquistion  - 2022 Technology, Innovation & Great Power Competition Team Acquistion  - 2022 Technology, Innovation & Great Power Competition
Team Acquistion - 2022 Technology, Innovation & Great Power Competition Stanford University
 
Team Climate Change - 2022 Technology, Innovation & Great Power Competition
Team Climate Change - 2022 Technology, Innovation & Great Power Competition Team Climate Change - 2022 Technology, Innovation & Great Power Competition
Team Climate Change - 2022 Technology, Innovation & Great Power Competition Stanford University
 
Altuna Engr245 2022 Lessons Learned
Altuna Engr245 2022 Lessons LearnedAltuna Engr245 2022 Lessons Learned
Altuna Engr245 2022 Lessons LearnedStanford University
 
Invisa Engr245 2022 Lessons Learned
Invisa Engr245 2022 Lessons LearnedInvisa Engr245 2022 Lessons Learned
Invisa Engr245 2022 Lessons LearnedStanford University
 
ānanda Engr245 2022 Lessons Learned
ānanda Engr245 2022 Lessons Learnedānanda Engr245 2022 Lessons Learned
ānanda Engr245 2022 Lessons LearnedStanford University
 
Gordian Knot Center Roundtable w/Depty SecDef
Gordian Knot Center Roundtable w/Depty SecDef Gordian Knot Center Roundtable w/Depty SecDef
Gordian Knot Center Roundtable w/Depty SecDef Stanford University
 
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
 
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
 
Team Catena - 2021 Technology, Innovation & Great Power Competition
Team Catena - 2021 Technology, Innovation & Great Power CompetitionTeam Catena - 2021 Technology, Innovation & Great Power Competition
Team Catena - 2021 Technology, Innovation & Great Power CompetitionStanford University
 
Team Apollo - 2021 Technology, Innovation & Great Power Competition
Team Apollo - 2021 Technology, Innovation & Great Power CompetitionTeam Apollo - 2021 Technology, Innovation & Great Power Competition
Team Apollo - 2021 Technology, Innovation & Great Power CompetitionStanford University
 
Team Drone - 2021 Technology, Innovation & Great Power Competition
Team Drone - 2021 Technology, Innovation & Great Power CompetitionTeam Drone - 2021 Technology, Innovation & Great Power Competition
Team Drone - 2021 Technology, Innovation & Great Power CompetitionStanford University
 
Team Short Circuit - 2021 Technology, Innovation & Great Power Competition
Team Short Circuit - 2021 Technology, Innovation & Great Power CompetitionTeam Short Circuit - 2021 Technology, Innovation & Great Power Competition
Team Short Circuit - 2021 Technology, Innovation & Great Power CompetitionStanford University
 
Team Aurora - 2021 Technology, Innovation & Great Power Competition
Team Aurora - 2021 Technology, Innovation & Great Power CompetitionTeam Aurora - 2021 Technology, Innovation & Great Power Competition
Team Aurora - 2021 Technology, Innovation & Great Power CompetitionStanford University
 
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...Stanford University
 
Lecture 8 - Technology, Innovation and Great Power Competition - Cyber
Lecture 8 - Technology, Innovation and Great Power Competition - CyberLecture 8 - Technology, Innovation and Great Power Competition - Cyber
Lecture 8 - Technology, Innovation and Great Power Competition - CyberStanford University
 

More from Stanford University (20)

Team Networks - 2022 Technology, Innovation & Great Power Competition
Team Networks  - 2022 Technology, Innovation & Great Power CompetitionTeam Networks  - 2022 Technology, Innovation & Great Power Competition
Team Networks - 2022 Technology, Innovation & Great Power Competition
 
Team LiOn Batteries - 2022 Technology, Innovation & Great Power Competition
Team LiOn Batteries  - 2022 Technology, Innovation & Great Power CompetitionTeam LiOn Batteries  - 2022 Technology, Innovation & Great Power Competition
Team LiOn Batteries - 2022 Technology, Innovation & Great Power Competition
 
Team Quantum - 2022 Technology, Innovation & Great Power Competition
Team Quantum  - 2022 Technology, Innovation & Great Power CompetitionTeam Quantum  - 2022 Technology, Innovation & Great Power Competition
Team Quantum - 2022 Technology, Innovation & Great Power Competition
 
Team Disinformation - 2022 Technology, Innovation & Great Power Competition
Team Disinformation  - 2022 Technology, Innovation & Great Power CompetitionTeam Disinformation  - 2022 Technology, Innovation & Great Power Competition
Team Disinformation - 2022 Technology, Innovation & Great Power Competition
 
Team Wargames - 2022 Technology, Innovation & Great Power Competition
Team Wargames  - 2022 Technology, Innovation & Great Power CompetitionTeam Wargames  - 2022 Technology, Innovation & Great Power Competition
Team Wargames - 2022 Technology, Innovation & Great Power Competition
 
Team Acquistion - 2022 Technology, Innovation & Great Power Competition
Team Acquistion  - 2022 Technology, Innovation & Great Power Competition Team Acquistion  - 2022 Technology, Innovation & Great Power Competition
Team Acquistion - 2022 Technology, Innovation & Great Power Competition
 
Team Climate Change - 2022 Technology, Innovation & Great Power Competition
Team Climate Change - 2022 Technology, Innovation & Great Power Competition Team Climate Change - 2022 Technology, Innovation & Great Power Competition
Team Climate Change - 2022 Technology, Innovation & Great Power Competition
 
Altuna Engr245 2022 Lessons Learned
Altuna Engr245 2022 Lessons LearnedAltuna Engr245 2022 Lessons Learned
Altuna Engr245 2022 Lessons Learned
 
Invisa Engr245 2022 Lessons Learned
Invisa Engr245 2022 Lessons LearnedInvisa Engr245 2022 Lessons Learned
Invisa Engr245 2022 Lessons Learned
 
ānanda Engr245 2022 Lessons Learned
ānanda Engr245 2022 Lessons Learnedānanda Engr245 2022 Lessons Learned
ānanda Engr245 2022 Lessons Learned
 
Gordian Knot Center Roundtable w/Depty SecDef
Gordian Knot Center Roundtable w/Depty SecDef Gordian Knot Center Roundtable w/Depty SecDef
Gordian Knot Center Roundtable w/Depty SecDef
 
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
 
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...
 
Team Catena - 2021 Technology, Innovation & Great Power Competition
Team Catena - 2021 Technology, Innovation & Great Power CompetitionTeam Catena - 2021 Technology, Innovation & Great Power Competition
Team Catena - 2021 Technology, Innovation & Great Power Competition
 
Team Apollo - 2021 Technology, Innovation & Great Power Competition
Team Apollo - 2021 Technology, Innovation & Great Power CompetitionTeam Apollo - 2021 Technology, Innovation & Great Power Competition
Team Apollo - 2021 Technology, Innovation & Great Power Competition
 
Team Drone - 2021 Technology, Innovation & Great Power Competition
Team Drone - 2021 Technology, Innovation & Great Power CompetitionTeam Drone - 2021 Technology, Innovation & Great Power Competition
Team Drone - 2021 Technology, Innovation & Great Power Competition
 
Team Short Circuit - 2021 Technology, Innovation & Great Power Competition
Team Short Circuit - 2021 Technology, Innovation & Great Power CompetitionTeam Short Circuit - 2021 Technology, Innovation & Great Power Competition
Team Short Circuit - 2021 Technology, Innovation & Great Power Competition
 
Team Aurora - 2021 Technology, Innovation & Great Power Competition
Team Aurora - 2021 Technology, Innovation & Great Power CompetitionTeam Aurora - 2021 Technology, Innovation & Great Power Competition
Team Aurora - 2021 Technology, Innovation & Great Power Competition
 
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...
 
Lecture 8 - Technology, Innovation and Great Power Competition - Cyber
Lecture 8 - Technology, Innovation and Great Power Competition - CyberLecture 8 - Technology, Innovation and Great Power Competition - Cyber
Lecture 8 - Technology, Innovation and Great Power Competition - Cyber
 

Recently uploaded

Work Experience for psp3 portfolio sasha
Work Experience for psp3 portfolio sashaWork Experience for psp3 portfolio sasha
Work Experience for psp3 portfolio sashasashalaycock03
 
AUDIENCE THEORY -- FANDOM -- JENKINS.pptx
AUDIENCE THEORY -- FANDOM -- JENKINS.pptxAUDIENCE THEORY -- FANDOM -- JENKINS.pptx
AUDIENCE THEORY -- FANDOM -- JENKINS.pptxiammrhaywood
 
Easter in the USA presentation by Chloe.
Easter in the USA presentation by Chloe.Easter in the USA presentation by Chloe.
Easter in the USA presentation by Chloe.EnglishCEIPdeSigeiro
 
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptxClinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptxraviapr7
 
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRADUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRATanmoy Mishra
 
3.21.24 The Origins of Black Power.pptx
3.21.24  The Origins of Black Power.pptx3.21.24  The Origins of Black Power.pptx
3.21.24 The Origins of Black Power.pptxmary850239
 
Department of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfDepartment of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfMohonDas
 
Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.raviapr7
 
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya
 
Education and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxEducation and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxraviapr7
 
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...Nguyen Thanh Tu Collection
 
A gentle introduction to Artificial Intelligence
A gentle introduction to Artificial IntelligenceA gentle introduction to Artificial Intelligence
A gentle introduction to Artificial IntelligenceApostolos Syropoulos
 
10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdfJayanti Pande
 
5 charts on South Africa as a source country for international student recrui...
5 charts on South Africa as a source country for international student recrui...5 charts on South Africa as a source country for international student recrui...
5 charts on South Africa as a source country for international student recrui...CaraSkikne1
 
The Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsThe Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsEugene Lysak
 
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptx
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptxSOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptx
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptxSyedNadeemGillANi
 
CapTechU Doctoral Presentation -March 2024 slides.pptx
CapTechU Doctoral Presentation -March 2024 slides.pptxCapTechU Doctoral Presentation -March 2024 slides.pptx
CapTechU Doctoral Presentation -March 2024 slides.pptxCapitolTechU
 
Diploma in Nursing Admission Test Question Solution 2023.pdf
Diploma in Nursing Admission Test Question Solution 2023.pdfDiploma in Nursing Admission Test Question Solution 2023.pdf
Diploma in Nursing Admission Test Question Solution 2023.pdfMohonDas
 
Vani Magazine - Quarterly Magazine of Seshadripuram Educational Trust
Vani Magazine - Quarterly Magazine of Seshadripuram Educational TrustVani Magazine - Quarterly Magazine of Seshadripuram Educational Trust
Vani Magazine - Quarterly Magazine of Seshadripuram Educational TrustSavipriya Raghavendra
 

Recently uploaded (20)

Work Experience for psp3 portfolio sasha
Work Experience for psp3 portfolio sashaWork Experience for psp3 portfolio sasha
Work Experience for psp3 portfolio sasha
 
AUDIENCE THEORY -- FANDOM -- JENKINS.pptx
AUDIENCE THEORY -- FANDOM -- JENKINS.pptxAUDIENCE THEORY -- FANDOM -- JENKINS.pptx
AUDIENCE THEORY -- FANDOM -- JENKINS.pptx
 
Easter in the USA presentation by Chloe.
Easter in the USA presentation by Chloe.Easter in the USA presentation by Chloe.
Easter in the USA presentation by Chloe.
 
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptxClinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
 
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRADUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
 
3.21.24 The Origins of Black Power.pptx
3.21.24  The Origins of Black Power.pptx3.21.24  The Origins of Black Power.pptx
3.21.24 The Origins of Black Power.pptx
 
Department of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfDepartment of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdf
 
Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.
 
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
 
Education and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxEducation and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptx
 
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...
CHUYÊN ĐỀ DẠY THÊM TIẾNG ANH LỚP 11 - GLOBAL SUCCESS - NĂM HỌC 2023-2024 - HK...
 
A gentle introduction to Artificial Intelligence
A gentle introduction to Artificial IntelligenceA gentle introduction to Artificial Intelligence
A gentle introduction to Artificial Intelligence
 
10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf
 
March 2024 Directors Meeting, Division of Student Affairs and Academic Support
March 2024 Directors Meeting, Division of Student Affairs and Academic SupportMarch 2024 Directors Meeting, Division of Student Affairs and Academic Support
March 2024 Directors Meeting, Division of Student Affairs and Academic Support
 
5 charts on South Africa as a source country for international student recrui...
5 charts on South Africa as a source country for international student recrui...5 charts on South Africa as a source country for international student recrui...
5 charts on South Africa as a source country for international student recrui...
 
The Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsThe Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George Wells
 
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptx
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptxSOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptx
SOLIDE WASTE in Cameroon,,,,,,,,,,,,,,,,,,,,,,,,,,,.pptx
 
CapTechU Doctoral Presentation -March 2024 slides.pptx
CapTechU Doctoral Presentation -March 2024 slides.pptxCapTechU Doctoral Presentation -March 2024 slides.pptx
CapTechU Doctoral Presentation -March 2024 slides.pptx
 
Diploma in Nursing Admission Test Question Solution 2023.pdf
Diploma in Nursing Admission Test Question Solution 2023.pdfDiploma in Nursing Admission Test Question Solution 2023.pdf
Diploma in Nursing Admission Test Question Solution 2023.pdf
 
Vani Magazine - Quarterly Magazine of Seshadripuram Educational Trust
Vani Magazine - Quarterly Magazine of Seshadripuram Educational TrustVani Magazine - Quarterly Magazine of Seshadripuram Educational Trust
Vani Magazine - Quarterly Magazine of Seshadripuram Educational Trust
 

Nsf online lecture 5 customer relationships

  • 1. NSF I-Corps The Lean LaunchPad Lecture 5 Customer Relationships How Do You Get/Keep/Grow Customers? Version 6/13/12
  • 2. Customer Relationships How do you Get, Keep and Grow Customers?
  • 4. Customer Relationships Physical & Web Mobile Are Different © 2012 Steve Blank
  • 5. Customer Relationships Physical Products – Get Customers © 2012 Steve Blank
  • 6. Customer Archetypes Drive Get/Keep/Grow Lab Manager: Brian • What’s their role? – How this person is evaluated / promoted / compensated? • Who are they? – Buyer’s name – Position / title / age / sex • How do they buy? – Discretionary budget (name of budget and amount) • What matters to them? – What motivates them? • Who influences them? – What do they read/who do they listen to?
  • 7. Paid Demand Creation Activities “Paid” Media Demand Creation • Public Relations • Advertising • Trade Shows • Webinars • Email marketing • On-line SEM • Biz Dev
  • 8. Free Demand Creation Activities “Earned” Media Demand Creation • Publications in journals • Conference speeches/papers • Educational seminars • Public relations • Blogging / Sharable content • Social Media • Communities
  • 9. Customer Relationships Physical Products – Get Customers © 2012 Steve Blank
  • 10. Customer Relationships Physical Products – Get Customers CAC = Customer Acquisition Cost © 2012 Steve Blank
  • 11. Customer Acquisition Cost versus Sales Complexity No Touch Light Touch High Touch Field Sales Freemium Field Sales Self-Service Inside Sales Inside Sales with SE’s Rough Estimates of Cost of Customer Acquisition (CAC) $0- $50 – $1,000 - $3,000 - $25,000 – $75,000 – $10 $200 $2,000 $8,000 $75,000 $200,000 Source: David Skok Matrix Partners
  • 12. Customer Relationships Physical Products – Keep Customers © 2012 Steve Blank
  • 13. Customer Relationships Physical Products – Keep Customers Attrition/Churn © 2012 Steve Blank
  • 14. Customer Relationships Physical Products – Grow Customers © 2012 Steve Blank
  • 15. Customer Relationships Physical Products – Get/Keep/Grow LTV = Customer Lifetime Value © 2012 Steve Blank
  • 16. Customer Relationships Web/Mobile Products– Get Customers © 2012 Steve Blank
  • 17. Web/Mobile Products– Get Customers CPM = cost per thousand hits © 2012 Steve Blank
  • 18. Web/Mobile Products– Get Customers CPA = Cost per Action © 2012 Steve Blank
  • 19. SaaSProducts– Get Customers Organic Traffic, SEM, Other Paid Sources Registered Visitors Raw Leads Qualified Leads Inside Sales Closed Deal © 2012 Steve Blank
  • 21. Our Example Marketing Funnel Quick Marketing Calculation 50% amount of traffic that is organic versus paid $1.50 cost per paid visitor (Google AdWords, etc.) $ 0.75 Cost per visitor (both paid and unpaid) 3% visitors convert to raw leads 20% number of raw leads that turn into qualified leads 1 qualified lead 5 raw leads required 167 visitors required $125 Cost of visitors (also = Cost per qualified lead) Source: David Skok Matrix Partners
  • 22. Our Example Marketing Funnel Quick Marketing Calculation 50% amount of traffic that is organic versus paid $1.50 cost per paid visitor (Google AdWords, etc.) $ 0.75 Cost per visitor (both paid and unpaid) 3% visitors convert to raw leads 20% number of raw leads that turn into qualified leads 1 qualified lead 5 raw leads required 167 Visitors required $125Cost per qualified lead Source: David Skok Matrix Partners
  • 23. Our Example Marketing Funnel Cost per Qualified Lead $125 Leads to closed deal 10 Marketing Costs per closed deal $1,250 Source: David Skok Matrix Partners
  • 24. We Can Compute CAC and LTV Excludes people costs Lead Gen costs per deal $ 1,250 (Cost per qualified lead x no of leads required per closed deal) Selling costs per deal $ 1,620 Excludes cost of sales management Excludes people costs in marketing, and Total CAC $ 2,870 sales management. (CAC= Cost to Acquire a Customer) Calculated by dividing average monthly Total LTV $ 16,000 gross profit per customer (ARPU x Gross Margin ) by the churn rate This excludes people costs in marketing, and sales management costs Source: David Skok Matrix Partners
  • 25. Balancing CAC/LTV in a SaaS model LTV >3x CAC Months to recover CAC <12 months Required for Capital Efficiency Source: David Skok Matrix Partners
  • 26. What Investors are Looking For A well balanced business model Monetization (LTV) Cost to Acquire a Customer (CAC) Source: David Skok Matrix Partners
  • 27. The Balancing Act • Viral effects • Inbound Marketing • Free or Freemium • Open Source • Free Trials • Touchless conversion • Inside Sales • Channels • Strategic partnerships Cost to Acquire a Customer Monetization (CAC) (LifeTime Value LTV) • Scalable Pricing • Cross Sell/Upsell • Product line expansion • Lead Gen for 3rd parties Source: David Skok Matrix Partners
  • 28. The Balancing Act • Viral effects • Inbound Marketing • High Churn Rates • Free or Freemium • Open Source • Low customer • Free Trials satisfaction • Touchless conversion • Inside Sales • Channels • Strategic partnerships Cost to Acquire a Customer Monetization (CAC) (LifeTime Value LTV) • Field Sales • Scalable Pricing • Cross Sell/Upsell • Outbound • Product line expansion Marketing • Lead Gen for 3rd parties Source: David Skok Matrix Partners
  • 29. Customer Relationships Web/Mobile Products– Keep Customers © 2012 Steve Blank
  • 30. How Churn affects LTV • Average customer lifetime in months = 1 / Monthly Churn Source: David Skok Matrix Partners
  • 31. How Churn affects Lifetime Months Lifetime vs Churn Rate 120 100 100 80 60 50 40 20 20 0 Monthly Churn 1% 2% 5% Source: David Skok Matrix Partners
  • 32. How Churn affects LTV Lifetime Value Monthly Churn Source: David Skok Matrix Partners
  • 33. Impact of lowering Churn Cumulative Net Profit Net Profit $7,000,000 $1,200,000 $6,000,000 $1,000,000 $5,000,000 $4,000,000 $800,000 $3,000,000 $600,000 $2,000,000 $400,000 $1,000,000 $200,000 $- Month 1 Month 3 Month 5 Month 7 Month 9 Month 11 Month 13 Month 15 Month 17 Month 19 Month 21 Month 23 Month 25 Month 27 Month 29 Month 31 Month 33 Month 35 $(1,000,000) $- $(2,000,000) $(200,000) $(3,000,000) $(400,000) $(4,000,000) Churn 1.25% Churn 2.5% Churn 1.25% Churn 2.5% • Impact of lowering the churn rate is felt more heavily in the later years, as expected • It has a significant impact on the long term profitability of the business Source: David Skok Matrix Partners
  • 34. Churn • 1% to 2.5% churn per month is acceptable • Higher than that, you are filling a leaky bucket – Need to understand why you have low customer satisfaction and address the problem Source: David Skok Matrix Partners
  • 35. Customer Relationships Web/Mobile Products– Grow Customers © 2012 Steve Blank
  • 36. Customer Relationships Web/Mobile Products Get/Keep/Grow © 2012 Steve Blank
  • 38. Demand generation plan and budget • Word of mouth generation – 2 systems for “Demo day events” – 2 systems for customer demos – 4 x 30K each = $120,000 • World Ag Expo Booth – 1 x 40x40 corner booth with demo – Hold press event breakfast – $ 15 K (booth, banners, hotels) • Magazine campaign – 3 ads in 2 magazines – Goal – get 2 articles on us – 2 x $ 10K + Ad agency = 30K • Total $165 K “You prove that it works and everything else is easy. Distribution is not that complicated in farming.” – Wyatt Duncan, Integrated Crop Pest Control
  • 49. • We ran a Facebook ad to test actual willingness2 to pay for this service 49
  • 50. • To test willingness to pay we used three 2 identical ads with three different landing pages 50
  • 51. • To test willingness to pay we used three 2 identical ads with three different landing pages Ad Sign-ups Clicks Ad spend Free 0 23 $25 $1/household 0 25 $25 $1/user 0 24 $25 • Unfortunately, test results only proved users did not trust our site for payments • Facebook traffic on this campaign was on our page for 4 seconds on average • Roommate campaign had a 1:37 site time average • Outstanding question: can we win trust in other ways and then engage users to pay rent through us? 51
  • 52. • Customer archetype: Sara How she searches  Wants to be efficient (will use a broker if doing a search on her own is too painful)  Asks friends for recommendations What Matters to Sara  Wants to live in a fun place that is safe  Doesn’t want to overpay  Doesn’t have much time to hunt for a place  Live with someone she trusts (moving to DC) Influences  Where friends go out/live  Work location 52
  • 54. What We Did: Landing Page + Web App
  • 55. What We Found: High referral traffic 4 day progress report Overall Signup progress 1258 31 filled 5- 136 min survey 10.8%
  • 56. What we did: Targeted women, all couples Demand generation test Hypothesis: Women-in-relationships are likelier to click through, irrespective of distance status Tested for $30 Facebook click through & conversion from FB impressions Ad-1 Ad-3 Ad-2 Ad-4
  • 57. What we found: women click more ...................................but not clear who will pay! Couples will pay subscription if they find more Subscription model test 1 sharing during free trial valuable LDRs 1 Takeaway: “More 6 sharing” without Paid convenience will have to be free. SLRs 4 Good if free Women likelier to click through irrespective of Demand generation test II distance status Click LOCATION Impressions Through Men Women Women-in-rel rates 87140
  • 58. What we found: Clicks, no web app usage Demand generation test Funnel: “Couples” campaign $ 29.7 this week 304,286 0.01 c impressions 122 uniques 0.35 c/new 85 new 24.6% conversion 30 sign-up 0.99 c clicks but one used web app
  • 60. Year 1 Web funnel Year 5 100 000 hits Referenced to our web site 300 000 hits 50% 70% Fill out savings calculator 20% 30% Send request to sales 30% 30% Reconnection with viable customer 80% 80% Visit to site 10% 20% Close sale Total Total Revenue 1.44 million Revenue 18.14 million
  • 62. Success Depends on Virality> Churn Ratio of early stage viralityrate to churn rate = 2.00x
  • 63. Success Depends on Virality>Churn Ratio of early stage viralityrate to churn rate = 1.50x
  • 64. Success Depends on Virality>Churn Ratio of early stage viralityrate to churn rate = 1.0x
  • 65. Demand creation via website 1 2 3 “Not a landing page” Doesn’t show the No Indonesian version product
  • 66. Demand creation via website - results Clicks CTR 100 74 2.00% 1.56% 68 1.25% 50 22 1.00% 0.59% 0 0.00% 1 2 3 1 2 3 People need to use the product CPC for us to maximize Conversions per click learning 1.5 1.34 6.00% 4.05% 1 0.62 4.00% 2.94% 0.54 0.5 2.00% 0.00% 0 0.00% 1 2 3 1 2 3
  • 67. Software Reference Tool Customer Relationships Example
  • 69. AB Testing Results 0% conversion 42% conversion 75% conversion 32% conversion • Original Peaya website has 66% conversion rate • Conversion defined as people clicking the download button on the landing page • Experiment still underway; too few data points for drawing conclusions
  • 70. Google &Facebook campaigns • Keywords: free endnote, reference manager, pdf manager, Itunes for digital content, I tunes, manage pdf, organize paper, paper manager, citation manager, paper citation, cite pdfs • 24 impressions, 2 clicks on googleadwords • Clicks on free endnote and organize paper • No Facebook response • 1 Post on ResearchGate drew 7 visitors
  • 71. We’re “a little” viral 12% of sign-ups from referrals 14 of 117 new registrations came from referrals by 3 people from Jan 1 to Feb 1. Referral bonus promoted in tutorial
  • 72. Collaboration doesn’t “pop”…. yet “Rate & Discuss” is least interesting tutorial screen so far However: 1) we can test different messages (ie “collaborate”) 2) experiment is slightly biased in ordering, we need further testing
  • 74. Search Keywords Lesson Learned: Very little search traffic -> a “missionary” sales effort
  • 75. Highly Competitive Keywords Lesson Learned: AdWords (paid SEM) is not going to be an efficient channel with these keywords
  • 77. ChannelIncentives VP All Institutions Out-patient care/ Per Service High Value home setting Revenue Model Therapies Hospitals Private Dosing flexibility Hospitals, specialty clinics Efficient patient Pain Clinics management In-patient care/ Per Diem hospitalization Pharmacoeconomics Revenue Model HMO, ACO, Non- profit, University Hospitals
  • 78. Demand Creation Patients/Advocacy Groups Conferences / Trade magazines / PR Societies conferences $20k/event * 6 events $20k/event * 4 events Research Journal One on one Meetings $150k/year travel Adoption Publications (Free) Budget ~ $300 k/year