SlideShare a Scribd company logo
Agenda

   Business Model Innovation
       CAC and LTV

   Reducing CAC (Cost to Acquire a Customer)
       Building a Sales & Marketing Machine
       The new rules of Customer Acquisition

   Increasing LTV (Lifetime Value of a Customer)
   Conclusion: Lessons Learned
Anatomy of a Startup




   Unmet Need                   New Technology




                The Old Model
The New Model




  Unmet Need                      New Technology




                                   New Business
  Entertainment
                                     Models



 Consumer Technology leads the Enterprise
Business Model Innovation:
The Major Change Agents

 The Internet


                   Google
                  SEO/SEM
                Enables
                low-cost
                customer
                              Web 2.0
                acquisition

                                         Social
                                        Networks


                                                   Mobile Web
Next Generation Web Innovation

   Traditional Magazines go on-line  Polyvore
   E-Commerce  Gilt, BuyWithMe, Swoopo
   Traditional Software  Open Source, SaaS
   Job Ads  Monster.com  theLadders.com
   Paper Ads  Banner Ads  Search, Lead Gen
   Yellow pages  on-line Yellow Pages  Google
    Maps with GPS assisted search
A Common Theme

   Business model disruption behind the innovation
   Use the Web to acquire traffic, then monetize
   Monetization strategies
       Transactions
       Subscriptions
       Ads
       Virtual Goods
       Etc.

   But – there’s a problem:    Startup Killer
An out of balance Business Model

                  Entrepreneurs are over-optimistic




      Cost to
     Acquire a
     Customer
      (CAC)

                                           Monetization
                                              (LTV)
CAC for a Web driven business
       Input Variables
       Total Web Visitors                  10,000
       SEM cost per click              $     0.50
       Conversion to Trial %                   5%
       Trial conversion %                     10%
       No of Sales & Marketing Staff             3
       Cost per employee per month     $   16,500



       Flow                                   Qty.   Conversion %
       Total Paid Web Vistors              10,000
       Trials                                 500             5%
       Customers                               50            10%

       SEM Marketing Spend             $    5,000
       Total Headcount Costs           $   49,500


       Cost of Customer Acquisition
       Without headcount costs         $ 100.00
       With headcount costs            $ 1,090.00
CAC for a Direct Salesforce

                                     Sales Sales Eng Inside Sales   Annual
                                                                    numbers
  Team composition                       1         1          0.5
  On target earnings            $ 230,000 $ 140,000 $ 90,000
  Salary Cost                   $ 230,000 $ 140,000 $ 45,000
  Salary + Overhead             $ 310,500 $ 189,000 $ 60,750

  Total Team Cost               $ 560,250
  Avg. team Failure Rate              25%
  Adjusted Team Cost            $ 747,000



  No. of Marketing people             0.5
  Average cost per person       $ 200,000
  Marketing Programs Spend      $ 150,000
  Total Marketing Costs         $ 350,000

  Total Sales & Marketing spend $ 1,097,000
  No of deals per team per year           10
  Cost of Customer Acquisition $ 109,700
What we are looking for


  A well balanced business model




                                   Monetization
                                      (LTV)



   Cost to
  Acquire a
  Customer
   (CAC)
The Balancing Act

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




  Cost to Acquire                                                  Monetization
   a Customer                                                        (LTV)
      CAC)



                    • Field Sales             •   Recurring Revenue
                    • Outbound Marketing      •   Scalable Pricing
                                              •   Cross Sell/Upsell
                                              •   Product line expansion
                                              •   Lead Gen for 3rd
                                                  parties
My rules for CAC/LTV balance in a SaaS model

    LTV > 3 x CAC
    Recover CAC in < 12 Months
        Required for Capital Efficiency
Typical Customer Acquisition Funnel




                                      Repeat
Suspects                 First Sale
                                      Business
Funnel Blockage Points

    Every company has a problem point in the funnel
        Even Microsoft, Cisco, Oracle, etc.
        Even eBay, Amazon, Google, etc.

    To identify this, ask the question:
        “What would you have to do to increase sales by 10x?”
Why?

   There’s a clear pattern:




                 Failure to align your
                   process with the
               customer’s motivations
In other words…




        You are hoping your
         customers will do
      something that they are
        not motivated to do
Get inside your Customer’s Head?

                        -   I don’t have the time
      Concerns          -   I have higher priority things to focus on
                        -   I already have software that does this
                        -   I don’t want to get spam email
                        -   It will be painful to switch
                        -   Yet another data integration headache
Understand what Motivates them

      Concerns    Motivation
The Psychological barrier is bigger than you think


             People tend to
                                                                            Software makers
             overvalue the
                                                                         tend to overvalue the
             software they
                                                                           software they offer
            currently use by
                                                                         by about a factor of 3
           about a factor of 3


                                                    3x              3x


                                                               9x
Harvard Business Review, June 2006
Eager Sellers, Stony Buyers
by John T Gourville
(Thanks also to Josh Porter - Designing for Social Traction)
Example: Driving traffic to your web site

 Concerns                Getting Found
                         -   Not going to find your site unless:
                                -   You are on top page of Google search
                                    that I am doing
                                -   You were recommended to me by a
                                    trusted source
                                -   I see something interesting written
                                    about you in social media or
                                    blogosphere
   Using Engineering for Marketing
Getting Customers to sign up for a Trial

                          -   I don’t have the time
       Concerns           -   I already have software that does this
                          -   I don’t want to get spam email
                          -   I don’t want yet another password to remember
Re-think the process



     Conventional Approach           Sign up           Use      Customer




     Immediate Engagement              Use            Sign up   Customer




Source: Josh Porter – Designing for Social Traction
Getting to Executive Decision Makers


                                TechCrunch for
                               Insurance Claims
Sales Funnel Design: The Usual Way

   Build the sales process from the inside out
   Why these usually don’t work:
       Customer motivation is not aligned with proposed steps
Building a Sales & Marketing Machine

    Scientific process for designing and evaluating sales
     and marketing programs
    Defining “Machine”:
      A scalable process that can be cranked up when needed
      Requiring minimal manual intervention
      Clear understanding of costs and returns
      Dashboard providing Key Performance Indicators
Customer Driven Approach

   Start with a detailed understanding of your customer
       Segment your market into named Personas:
          Call Center Connie, IT Ian, Reseller Robert


       Define the Personas
          Age: 35; Married, 2 Kids; Car: Toyota Prius
          Likes, Dislikes
          Product sophistication, technical abilities
          Where they hang out on the web
          What their boss expects of them
          Their buying goals
          Their buying concerns
          Etc.
Diagram their buying process
Add the steps to address the buying process
Define the Actions to move them through funnel
Customer Concerns and Motivations
(JBoss Case Study)


                           • Is JBoss a
                             market leader?
                                                                                 • Operations
                           • Technical                                             people: Safe
                             features?                                             Choice?                                         • Cost?
                           • Price?                                              • Good support?                                   • Quality of
                           • Easy of                                             • Scalability &                                     support?
                             download/use?     • Safe Choice?                                       • Cost?
                                                                                   reliability?                                    • How much
                           • Good support?     • Quality?        • Cost?                            • Quality of                     did we use
                                                                                 • Fit with other                   • Successful
                           • Open Source       • Scalability?    • Quality of      datacenter         support?        implemen-      it?
                             fears             • Good support?     support?        tools?           • Value?          tation       • Value?

                             Download &                           Purchase         Put JBoss          Purchase                        Renew
    J2EE      Hear about                        Decision to                                                          Std-ize and
                              evaluate                            Training /         into            Production                      support
  Developer     JBoss                            use JBoss                                                             Expand
                               JBoss                              Dev Suppt       Production          Support                        contract


                            • Price            • Price           • References    • Price            • Need for      • Price        • Good support
                            • Easy to          • Architecture,   • Developer’s   • Production         insurance                    • Perceived
                              download and       Features,         providing       References       • References                     value
                              get started        Performance,      support       • Partners         • Value
                            • Recommen-          etc.                                                 proposition
                                                                                 • Leadership
                              dation           • J2EE                              quadrant of        (needs
                            • Positive           certification                     analysts?          improving)
                              Review           • References
                            • Press articles   • Partners
Remaining steps

   Test Linkages between steps
   Software to automate (particularly linkages)
   Define organizational resources for each step
   Add Instrumentation (Metrics)




          Refer to my Blog for more details
Key Funnel Metrics

                                Campaigns
                                 to drive
                                  traffic

                                  Visitors


         Overall Conversion %                  Conversion %


                                   Trials

           (by lead source)
                                               Conversion %


                                Closed Deals
Brainstorming Topics

    Bottlenecks
        Where are we failing to move people successfully?
        Why? & What can be done about it?

    Conversion rates
        Creative ways to increase these for each stage

    Throughput
        Why can’t we quadruple the throughput?

    Cost of Customer Acquisition
        Look at the cost of each step and ask if it can be done in a cheaper
         way

    Duration
        Can we shorten the overall duration of the sales cycle
Buying Behavior has Changed

“Please understand that I get dozens of these types of messages a week. I
simply do not have time to read them, dig into them, follow-up on them, or
reply to them. The most effective solution to this problem is for me to
ignore the messages, which is what I usually do. …

… Finally, a small comment. As a customer, I find this
type of approach to sales to be largely annoying to
me and unproductive for you. We learn far more
about what we want to purchase by searching the
web, looking for customer references in blogs and
forums, word of mouth, and by finding white papers
on your site that concretely describe solutions to
problems we are having.”
                                            CIO of Large Pharma Co.
Buying Behavior has Changed

   Outbound Marketing:
       Annoying to your customers
       Expensive
       Increasingly less effective

   What is the new process?
       Google Search
       Web Site
       Reviews
       Blogs & Social Media
           Influencers
       Trials or Free software / services
       Avoid sales people

   Requires Inbound Marketing thought processes
HubSpot: Inbound Marketing
Remarkable Content

   Write a Blog
   Create content that is REMARKable
     Educational
     Humorous
     Controversial

   Use social media (Twitter, Facebook, etc) to build a
    following
       If the content is good it will spread virally
The Power of Free

   Wired Magazine: Free! Why $0.00 Is the Future of Business
     Free is dramatically different to even $1
     If done right can lead to viral spread

   Examples:
       Open Source software (JBoss, Asterisk)
       HubSpot’s WebSiteGrader


   Monetize some portion of your free customer base
       Use of a free product/service develops a level of trusted
        relationship
       Makes it easier to sell something to them
Virality

    Often hoped for, rarely achieved
    The best businesses:
        Virality plus Monetization
           Examples:
              – Google
              – Gilt.com
              – Zynga



    Entire Blog post devoted to this topic:
        www.forentrepreneurs.com/lessons-learnt-viral-marketing/
The Low Cost Sales Model

   Web & Inbound Marketing
       Free product, or Free Trial

   Insides Sales
   Examples
       SolarWinds
       Constant Contact
       LogMeIn
       JBoss
       HubSpot
The Touchless Conversion


ZenDesk           Web based Help ticket system for
                  customer service


   Extraodinarily scalable
   Extremely low cost
Free Trials require different Product Thinking

    The product is your salesperson
    Extreme focus on:
      Ease of installation
      Ease of use
      Clear instructions on how to test (short videos, etc.)
      Fast proof that it works
Enables you to reach the SMB market

   Not economically feasible in the past
   Now opens up a vast new market
   In many ways a better business than Enterprise
    Software
Old World evolving to a New World




Charge for
everything
(including        Free Trials
on-site trials)




                                       Free Product
                                Monetize a Fraction of Custs
Old World evolving to a New World

   New World
       Give things away to optimize spread
       Large Footprint of customers = Great brand value
       Price low to get fast decisions

   Old world
       Optimize pricing to extract the most
       “But the customer is quite happy to pay that much”

   Key realization
       CAC is one of the highest P&L expense items
       Optimal Pricing limits spread
       Optimal Pricing damages CAC
Sales process:
 Touch and Complexity versus Value

Value




                                                Product Complexity

    No Touch       Light Touch   Heavy Touch         Field Sales
   Self-Service   Inside Sales   Inside Sales         with SE’s
Where I want to invest

Value                                           Complexity




    No Touch       Light Touch   Heavy Touch    Field Sales
   Self-Service   Inside Sales   Inside Sales    with SE’s
SaaS versus Enterprise Software

Value                                           Complexity




    No Touch       Light Touch   Heavy Touch    Field Sales
   Self-Service   Inside Sales   Inside Sales    with SE’s
Levers you can use to move from Red to Green

   Make it easy for customers to sell themselves
   Make the first decision to work with your product easy
       Simple product
       Free versions, Free Trials, Open Source

   Remove Complexity from closing the Sale
       Remove IT (SaaS)
       Eliminate committee decision making

   Make the first financial commitment easy
       $10,000 or below for enterprise sales
       $250 per month for very small business SaaS
What can happen when you get this right

   SolarWinds
       2009 Revenues: $116 million
       EBITDA: $60 million



              52% operating margins



   Others: JBoss, LogMeIn, Constant Contact,
    Salesforce.com, etc.
The Balancing Act

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




  Cost to Acquire                                                  Monetization
   a Customer                                                        (LTV)
      CAC)



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




   Benefits
       Predictability – highly valued by Wall St
       Future revenue and cash flow for an acquirer
The Highlights

    Breakthrough Business Model
        Open Source
        A great example of the power of Free
        5 million downloads

    The first challenge: How to monetize
    The second challenge: Conversion
        While keeping CAC low
        Solution: Build a Sales & Marketing Machine
The Original Brainstorming Session
The First Blockage Point

    5 million users had downloaded JBoss
        But none had given their names

    The problem:
        email registration in front of download reduces
         conversion rates significantly

    The Solution
        Look for something that those developers really wanted

    JBoss had been earning $27k per month for
     documentation
        Solution: give this away, in exchange for email address
JBoss - Sales & Marketing Machine




                                                        Enterprise
 Suspects                                Closed Deals
                                                        Rollouts




 Web         Web        Phone   Inside
Leads       Scoring      Call   Sales



             Lead
            Nurturing
Metrics: The End Goal




              Web
                          Tele-     Tele-
             activity
                        marketing   sales
             scoring
Using the model to work backwards



                      Web
                                       Tele-           Inside-
                     activity
                                     marketing          sales
                     scoring



    To do $4m in the month:
         If Average Deal Size is $10k
         Need $4m divided by $10k deals to reach target = 400 deals
         Means 1,200 deals being worked in Inside sales (400x4)
              Know that each rep can work 60 deals at a time, means 20 reps
         Means 3,600 telemarketing contacts (1,200x3)
         Means 14,400 Raw Leads (3,600x4)
The next challenge: Increase LTV

    Multi-pronged approach
        Add services to the subscription (beyond just support)
           Key service was JBoss Operations Network
        Broaden the product line and upsell
           JBoss Enteprise Middleware Suite (JEMS)
        Scalable Pricing
           4 axes to drive pricing higher

    Result
      Drove average deal size from $10k to $50k
      While maintaining the same pipeline flow and
       conversion rates
The Results

    Before venture financing
        2003   $2m

    Early 2004 – venture round closes
    Revenue Growth:
        2004   $11m
        2005   $26m
        2006   on plan to do $65m
JBoss Summary

   Business Model disruption
       Gave the product away entirely free
       Monetized support & management

   Low CAC
       Leveraged free and virality to acquire non-paying customers

   Sales & Marketing Machine
       Careful study of customer motivations
       Low cost Sales model
       Excellent Metrics

   Scalable pricing model
Lessons Learned

   Business Model Innovation
   CAC / LTV balance
   Build a Sales & Marketing Machine
       Customer Centric behavior with Personas
       Buying cycle diagram comes first
       Customer Motivations and issues analysis at each stage
       Metrics
       Remove Blockage Points
       Quarterly Brainstorming
Lessons Learned - (continued)

   Understand the new buying behaviors
       Think Inbound versus Outbound

   Look for the breakthrough techniques
       Free products / services
          Use R&D as a marketing tool
       Free Trials

   Look for the next evolution in the business model
       Don’t just think web-enabling of current ways
       What does the web let me do that I can’t do today?
This is all obvious

    Vision is easy
    Execution is the hard part
    All comes down to hiring great teams
For More information

   Visit my blog at www.forEntrepreneurs.com

More Related Content

What's hot

The SaaS Founder’s Journey: What Matters at Each Stage
The SaaS Founder’s Journey: What Matters at Each StageThe SaaS Founder’s Journey: What Matters at Each Stage
The SaaS Founder’s Journey: What Matters at Each Stage
David Skok
 
WebSummit 2018 - The SaaS Business Model & Metrics
WebSummit 2018 - The SaaS Business Model & MetricsWebSummit 2018 - The SaaS Business Model & Metrics
WebSummit 2018 - The SaaS Business Model & Metrics
David Skok
 
KPI analytics for saas startups
KPI analytics for saas startupsKPI analytics for saas startups
KPI analytics for saas startups
Artyom Efremov
 
Outbound prospecting for highly targeted lead flow
Outbound prospecting for highly targeted lead flowOutbound prospecting for highly targeted lead flow
Outbound prospecting for highly targeted lead flow
David Skok
 
Zero to 100 - Part 5: SaaS Business Model & Metrics
Zero to 100 - Part 5: SaaS Business Model & MetricsZero to 100 - Part 5: SaaS Business Model & Metrics
Zero to 100 - Part 5: SaaS Business Model & Metrics
David Skok
 
Time to Wow! and Buyer-centric Funnel Design
Time to Wow! and Buyer-centric Funnel DesignTime to Wow! and Buyer-centric Funnel Design
Time to Wow! and Buyer-centric Funnel Design
David Skok
 
The SaaS business model and metrics
The SaaS business model and metricsThe SaaS business model and metrics
The SaaS business model and metrics
David Skok
 
Buyer Centric Funnel Design
Buyer Centric Funnel DesignBuyer Centric Funnel Design
Buyer Centric Funnel Design
David Skok
 
Building a B2B Marketing Flywheel
Building a B2B Marketing FlywheelBuilding a B2B Marketing Flywheel
Building a B2B Marketing Flywheel
Todd Ebert
 
9 Steps to Repeatable, Scalable, & Profitable Growth
9 Steps to Repeatable, Scalable, & Profitable Growth9 Steps to Repeatable, Scalable, & Profitable Growth
9 Steps to Repeatable, Scalable, & Profitable Growth
David Skok
 
A High Growth SaaS Playbook - 12 Metrics to Drive Success
A High Growth SaaS Playbook - 12 Metrics to Drive SuccessA High Growth SaaS Playbook - 12 Metrics to Drive Success
A High Growth SaaS Playbook - 12 Metrics to Drive Success
SaaStock
 
The Art & Science of Growth Hacking
The Art & Science of Growth HackingThe Art & Science of Growth Hacking
The Art & Science of Growth Hacking
David Skok
 
9 Worst Practices in SaaS Metrics
9 Worst Practices in SaaS Metrics9 Worst Practices in SaaS Metrics
9 Worst Practices in SaaS Metrics
Christoph Janz
 
How Startups Can Build a Recruiting Machine
How Startups Can Build a Recruiting MachineHow Startups Can Build a Recruiting Machine
How Startups Can Build a Recruiting Machine
David Skok
 
29 Growth Hacking Quick Wins
29 Growth Hacking Quick Wins29 Growth Hacking Quick Wins
29 Growth Hacking Quick Wins
Mattan Griffel
 
Lean Analytics Cycle
Lean Analytics CycleLean Analytics Cycle
Lean Analytics Cycle
Hiten Shah
 
Zero to 100 - Part 6: Experiences putting Theory into Practice
Zero to 100 - Part 6: Experiences putting Theory into PracticeZero to 100 - Part 6: Experiences putting Theory into Practice
Zero to 100 - Part 6: Experiences putting Theory into Practice
David Skok
 
SaaStock NYC 2018
SaaStock NYC 2018SaaStock NYC 2018
SaaStock NYC 2018
David Skok
 
12 Key Levers of SaaS Success
12 Key Levers of SaaS Success12 Key Levers of SaaS Success
12 Key Levers of SaaS Success
saastr
 
The SaaS Founder's Journey - What matters at each stage
The SaaS Founder's Journey - What matters at each stageThe SaaS Founder's Journey - What matters at each stage
The SaaS Founder's Journey - What matters at each stage
SaaStock
 

What's hot (20)

The SaaS Founder’s Journey: What Matters at Each Stage
The SaaS Founder’s Journey: What Matters at Each StageThe SaaS Founder’s Journey: What Matters at Each Stage
The SaaS Founder’s Journey: What Matters at Each Stage
 
WebSummit 2018 - The SaaS Business Model & Metrics
WebSummit 2018 - The SaaS Business Model & MetricsWebSummit 2018 - The SaaS Business Model & Metrics
WebSummit 2018 - The SaaS Business Model & Metrics
 
KPI analytics for saas startups
KPI analytics for saas startupsKPI analytics for saas startups
KPI analytics for saas startups
 
Outbound prospecting for highly targeted lead flow
Outbound prospecting for highly targeted lead flowOutbound prospecting for highly targeted lead flow
Outbound prospecting for highly targeted lead flow
 
Zero to 100 - Part 5: SaaS Business Model & Metrics
Zero to 100 - Part 5: SaaS Business Model & MetricsZero to 100 - Part 5: SaaS Business Model & Metrics
Zero to 100 - Part 5: SaaS Business Model & Metrics
 
Time to Wow! and Buyer-centric Funnel Design
Time to Wow! and Buyer-centric Funnel DesignTime to Wow! and Buyer-centric Funnel Design
Time to Wow! and Buyer-centric Funnel Design
 
The SaaS business model and metrics
The SaaS business model and metricsThe SaaS business model and metrics
The SaaS business model and metrics
 
Buyer Centric Funnel Design
Buyer Centric Funnel DesignBuyer Centric Funnel Design
Buyer Centric Funnel Design
 
Building a B2B Marketing Flywheel
Building a B2B Marketing FlywheelBuilding a B2B Marketing Flywheel
Building a B2B Marketing Flywheel
 
9 Steps to Repeatable, Scalable, & Profitable Growth
9 Steps to Repeatable, Scalable, & Profitable Growth9 Steps to Repeatable, Scalable, & Profitable Growth
9 Steps to Repeatable, Scalable, & Profitable Growth
 
A High Growth SaaS Playbook - 12 Metrics to Drive Success
A High Growth SaaS Playbook - 12 Metrics to Drive SuccessA High Growth SaaS Playbook - 12 Metrics to Drive Success
A High Growth SaaS Playbook - 12 Metrics to Drive Success
 
The Art & Science of Growth Hacking
The Art & Science of Growth HackingThe Art & Science of Growth Hacking
The Art & Science of Growth Hacking
 
9 Worst Practices in SaaS Metrics
9 Worst Practices in SaaS Metrics9 Worst Practices in SaaS Metrics
9 Worst Practices in SaaS Metrics
 
How Startups Can Build a Recruiting Machine
How Startups Can Build a Recruiting MachineHow Startups Can Build a Recruiting Machine
How Startups Can Build a Recruiting Machine
 
29 Growth Hacking Quick Wins
29 Growth Hacking Quick Wins29 Growth Hacking Quick Wins
29 Growth Hacking Quick Wins
 
Lean Analytics Cycle
Lean Analytics CycleLean Analytics Cycle
Lean Analytics Cycle
 
Zero to 100 - Part 6: Experiences putting Theory into Practice
Zero to 100 - Part 6: Experiences putting Theory into PracticeZero to 100 - Part 6: Experiences putting Theory into Practice
Zero to 100 - Part 6: Experiences putting Theory into Practice
 
SaaStock NYC 2018
SaaStock NYC 2018SaaStock NYC 2018
SaaStock NYC 2018
 
12 Key Levers of SaaS Success
12 Key Levers of SaaS Success12 Key Levers of SaaS Success
12 Key Levers of SaaS Success
 
The SaaS Founder's Journey - What matters at each stage
The SaaS Founder's Journey - What matters at each stageThe SaaS Founder's Journey - What matters at each stage
The SaaS Founder's Journey - What matters at each stage
 

Similar to Customer Acquisition & Monetization - Keys to your Business Model

Online Marketing
Online MarketingOnline Marketing
Online Marketing
Francisco Hernandez-Marcos
 
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
iCumulus
 
Market/Product Fit The Geek Way
Market/Product Fit The Geek WayMarket/Product Fit The Geek Way
Market/Product Fit The Geek Way
Provado Marketing Solutions, Inc.
 
Lean Startup Metrics & Analytics
Lean Startup Metrics & AnalyticsLean Startup Metrics & Analytics
Lean Startup Metrics & Analytics
Nicola Junior Vitto
 
General Assembly Online Retail
General Assembly Online RetailGeneral Assembly Online Retail
General Assembly Online Retail
Justus Wilde
 
Engagement Marketing Technologies Uk
Engagement Marketing Technologies UkEngagement Marketing Technologies Uk
Engagement Marketing Technologies Uk
Silverpop
 
Lean Launchpad Tucson - Customer Relationships
Lean Launchpad Tucson - Customer RelationshipsLean Launchpad Tucson - Customer Relationships
Lean Launchpad Tucson - Customer Relationships
Aaron Eden
 
DohertyWhite - Selling Technology Products Online
DohertyWhite - Selling Technology Products OnlineDohertyWhite - Selling Technology Products Online
DohertyWhite - Selling Technology Products Online
Motarme Limited
 
7 steps to marketing success sugar con 2010
7 steps to marketing success   sugar con 20107 steps to marketing success   sugar con 2010
7 steps to marketing success sugar con 2010
Leading Results, Inc
 
Htp Prospect Webinar
Htp Prospect Webinar Htp Prospect Webinar
Htp Prospect Webinar
Inbound Marketing Zone
 
Valuing Partner Traffic through the evolution of Ecommerce
Valuing Partner Traffic through the evolution of EcommerceValuing Partner Traffic through the evolution of Ecommerce
Valuing Partner Traffic through the evolution of Ecommerce
auexpo Conference
 
Analysis with no web analyst on board 2012
Analysis with no  web analyst on board 2012Analysis with no  web analyst on board 2012
Analysis with no web analyst on board 2012
Ionmoon
 
Developing a cult of analytics
Developing a cult of analyticsDeveloping a cult of analytics
Developing a cult of analytics
Steve Jackson
 
How to automagically identify high-intent leads (Webinar Slides)
How to automagically identify high-intent leads (Webinar Slides)How to automagically identify high-intent leads (Webinar Slides)
How to automagically identify high-intent leads (Webinar Slides)
Segment
 
Creating a social media strategy for a tourism business | Block 1: Basics of ...
Creating a social media strategy for a tourism business | Block 1: Basics of ...Creating a social media strategy for a tourism business | Block 1: Basics of ...
Creating a social media strategy for a tourism business | Block 1: Basics of ...
Francisco Hernandez-Marcos
 
Design for conversion, nuture for customers
Design for conversion, nuture for customersDesign for conversion, nuture for customers
Design for conversion, nuture for customers
Clique Studios
 
Building a Sales and Marketing Machine
Building a Sales and Marketing MachineBuilding a Sales and Marketing Machine
Building a Sales and Marketing Machine
David Im
 
Building a sales & marketing machine
Building a sales & marketing machineBuilding a sales & marketing machine
Building a sales & marketing machine
David Skok
 
Online Advertising
Online AdvertisingOnline Advertising
Online Advertising
FP iMarketing
 
Great Marketing When You Dont Work For A F5000 Company Ppt
Great Marketing When You Dont Work For A F5000 Company PptGreat Marketing When You Dont Work For A F5000 Company Ppt
Great Marketing When You Dont Work For A F5000 Company Ppt
Leading Results, Inc
 

Similar to Customer Acquisition & Monetization - Keys to your Business Model (20)

Online Marketing
Online MarketingOnline Marketing
Online Marketing
 
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
 
Market/Product Fit The Geek Way
Market/Product Fit The Geek WayMarket/Product Fit The Geek Way
Market/Product Fit The Geek Way
 
Lean Startup Metrics & Analytics
Lean Startup Metrics & AnalyticsLean Startup Metrics & Analytics
Lean Startup Metrics & Analytics
 
General Assembly Online Retail
General Assembly Online RetailGeneral Assembly Online Retail
General Assembly Online Retail
 
Engagement Marketing Technologies Uk
Engagement Marketing Technologies UkEngagement Marketing Technologies Uk
Engagement Marketing Technologies Uk
 
Lean Launchpad Tucson - Customer Relationships
Lean Launchpad Tucson - Customer RelationshipsLean Launchpad Tucson - Customer Relationships
Lean Launchpad Tucson - Customer Relationships
 
DohertyWhite - Selling Technology Products Online
DohertyWhite - Selling Technology Products OnlineDohertyWhite - Selling Technology Products Online
DohertyWhite - Selling Technology Products Online
 
7 steps to marketing success sugar con 2010
7 steps to marketing success   sugar con 20107 steps to marketing success   sugar con 2010
7 steps to marketing success sugar con 2010
 
Htp Prospect Webinar
Htp Prospect Webinar Htp Prospect Webinar
Htp Prospect Webinar
 
Valuing Partner Traffic through the evolution of Ecommerce
Valuing Partner Traffic through the evolution of EcommerceValuing Partner Traffic through the evolution of Ecommerce
Valuing Partner Traffic through the evolution of Ecommerce
 
Analysis with no web analyst on board 2012
Analysis with no  web analyst on board 2012Analysis with no  web analyst on board 2012
Analysis with no web analyst on board 2012
 
Developing a cult of analytics
Developing a cult of analyticsDeveloping a cult of analytics
Developing a cult of analytics
 
How to automagically identify high-intent leads (Webinar Slides)
How to automagically identify high-intent leads (Webinar Slides)How to automagically identify high-intent leads (Webinar Slides)
How to automagically identify high-intent leads (Webinar Slides)
 
Creating a social media strategy for a tourism business | Block 1: Basics of ...
Creating a social media strategy for a tourism business | Block 1: Basics of ...Creating a social media strategy for a tourism business | Block 1: Basics of ...
Creating a social media strategy for a tourism business | Block 1: Basics of ...
 
Design for conversion, nuture for customers
Design for conversion, nuture for customersDesign for conversion, nuture for customers
Design for conversion, nuture for customers
 
Building a Sales and Marketing Machine
Building a Sales and Marketing MachineBuilding a Sales and Marketing Machine
Building a Sales and Marketing Machine
 
Building a sales & marketing machine
Building a sales & marketing machineBuilding a sales & marketing machine
Building a sales & marketing machine
 
Online Advertising
Online AdvertisingOnline Advertising
Online Advertising
 
Great Marketing When You Dont Work For A F5000 Company Ppt
Great Marketing When You Dont Work For A F5000 Company PptGreat Marketing When You Dont Work For A F5000 Company Ppt
Great Marketing When You Dont Work For A F5000 Company Ppt
 

More from David Skok

How to Survive and Thrive in the post-Covid Era
How to Survive and Thrive in the post-Covid EraHow to Survive and Thrive in the post-Covid Era
How to Survive and Thrive in the post-Covid Era
David Skok
 
9 Steps to Repeatable, Scalable, & Profitable Growth - older version
9 Steps to Repeatable, Scalable, & Profitable Growth - older version9 Steps to Repeatable, Scalable, & Profitable Growth - older version
9 Steps to Repeatable, Scalable, & Profitable Growth - older version
David Skok
 
Zero to 100 - Part 7: The Role of the CEO
Zero to 100 - Part 7: The Role of the CEOZero to 100 - Part 7: The Role of the CEO
Zero to 100 - Part 7: The Role of the CEO
David Skok
 
Zero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
Zero to 100 - Part 4: Building a Sales Team - Stephanie SchatzZero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
Zero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
David Skok
 
Zero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
Zero to 100 - Part 3: Founder-led Selling - Pete KazanjyZero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
Zero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
David Skok
 
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth ProcessZero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
David Skok
 
Zero to 100 - Part 1: Intro + First Section
Zero to 100 - Part 1: Intro + First SectionZero to 100 - Part 1: Intro + First Section
Zero to 100 - Part 1: Intro + First Section
David Skok
 
The Application Development Landscape - 2011
The Application Development Landscape -  2011The Application Development Landscape -  2011
The Application Development Landscape - 2011
David Skok
 
The Science behind Viral marketing
The Science behind Viral marketingThe Science behind Viral marketing
The Science behind Viral marketing
David Skok
 
Build a Sales & Marketing Machine
Build a Sales & Marketing MachineBuild a Sales & Marketing Machine
Build a Sales & Marketing Machine
David Skok
 

More from David Skok (10)

How to Survive and Thrive in the post-Covid Era
How to Survive and Thrive in the post-Covid EraHow to Survive and Thrive in the post-Covid Era
How to Survive and Thrive in the post-Covid Era
 
9 Steps to Repeatable, Scalable, & Profitable Growth - older version
9 Steps to Repeatable, Scalable, & Profitable Growth - older version9 Steps to Repeatable, Scalable, & Profitable Growth - older version
9 Steps to Repeatable, Scalable, & Profitable Growth - older version
 
Zero to 100 - Part 7: The Role of the CEO
Zero to 100 - Part 7: The Role of the CEOZero to 100 - Part 7: The Role of the CEO
Zero to 100 - Part 7: The Role of the CEO
 
Zero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
Zero to 100 - Part 4: Building a Sales Team - Stephanie SchatzZero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
Zero to 100 - Part 4: Building a Sales Team - Stephanie Schatz
 
Zero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
Zero to 100 - Part 3: Founder-led Selling - Pete KazanjyZero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
Zero to 100 - Part 3: Founder-led Selling - Pete Kazanjy
 
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth ProcessZero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth Process
 
Zero to 100 - Part 1: Intro + First Section
Zero to 100 - Part 1: Intro + First SectionZero to 100 - Part 1: Intro + First Section
Zero to 100 - Part 1: Intro + First Section
 
The Application Development Landscape - 2011
The Application Development Landscape -  2011The Application Development Landscape -  2011
The Application Development Landscape - 2011
 
The Science behind Viral marketing
The Science behind Viral marketingThe Science behind Viral marketing
The Science behind Viral marketing
 
Build a Sales & Marketing Machine
Build a Sales & Marketing MachineBuild a Sales & Marketing Machine
Build a Sales & Marketing Machine
 

Recently uploaded

Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
dpbossdpboss69
 
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
Cambridge Product Management Network
 
GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
GraceKohler1
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
Virtual Leadership and the managing work
Virtual Leadership and the managing workVirtual Leadership and the managing work
Virtual Leadership and the managing work
IruniUshara1
 
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium PresentationKirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip
 
list of states and organizations .pdf
list of  states  and  organizations .pdflist of  states  and  organizations .pdf
list of states and organizations .pdf
Rbc Rbcua
 
Call8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessingCall8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessing
➑➌➋➑➒➎➑➑➊➍
 
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
concepsionchomo153
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
BBPMedia1
 
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Niswey
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
APCO
 
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Kalyan Satta Matka Guessing Matka Result Main Bazar chart
 
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Herman Kienhuis
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results
 
The Steadfast and Reliable Bull: Taurus Zodiac Sign
The Steadfast and Reliable Bull: Taurus Zodiac SignThe Steadfast and Reliable Bull: Taurus Zodiac Sign
The Steadfast and Reliable Bull: Taurus Zodiac Sign
my Pandit
 
8328958814KALYAN MATKA | MATKA RESULT | KALYAN
8328958814KALYAN MATKA | MATKA RESULT | KALYAN8328958814KALYAN MATKA | MATKA RESULT | KALYAN
8328958814KALYAN MATKA | MATKA RESULT | KALYAN
➑➌➋➑➒➎➑➑➊➍
 
Discover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling ServiceDiscover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling Service
obriengroupinc04
 

Recently uploaded (20)

Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
 
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
2024.06 CPMN Cambridge - Beyond Now-Next-Later.pdf
 
GKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt PresentationGKohler - Retail Scavenger Hunt Presentation
GKohler - Retail Scavenger Hunt Presentation
 
IMG_20240615_091110.pdf dpboss guessing
IMG_20240615_091110.pdf dpboss  guessingIMG_20240615_091110.pdf dpboss  guessing
IMG_20240615_091110.pdf dpboss guessing
 
Virtual Leadership and the managing work
Virtual Leadership and the managing workVirtual Leadership and the managing work
Virtual Leadership and the managing work
 
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium PresentationKirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
 
list of states and organizations .pdf
list of  states  and  organizations .pdflist of  states  and  organizations .pdf
list of states and organizations .pdf
 
Call8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessingCall8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessing
 
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注外围盘口-欧洲杯投注盘口app|【​网址​🎉ac22.net🎉​】
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
 
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
 
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
 
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
 
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
 
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan ChartSatta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
 
The Steadfast and Reliable Bull: Taurus Zodiac Sign
The Steadfast and Reliable Bull: Taurus Zodiac SignThe Steadfast and Reliable Bull: Taurus Zodiac Sign
The Steadfast and Reliable Bull: Taurus Zodiac Sign
 
8328958814KALYAN MATKA | MATKA RESULT | KALYAN
8328958814KALYAN MATKA | MATKA RESULT | KALYAN8328958814KALYAN MATKA | MATKA RESULT | KALYAN
8328958814KALYAN MATKA | MATKA RESULT | KALYAN
 
Discover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling ServiceDiscover the Beauty and Functionality of The Expert Remodeling Service
Discover the Beauty and Functionality of The Expert Remodeling Service
 

Customer Acquisition & Monetization - Keys to your Business Model

  • 1.
  • 2. Agenda  Business Model Innovation  CAC and LTV  Reducing CAC (Cost to Acquire a Customer)  Building a Sales & Marketing Machine  The new rules of Customer Acquisition  Increasing LTV (Lifetime Value of a Customer)  Conclusion: Lessons Learned
  • 3. Anatomy of a Startup Unmet Need New Technology The Old Model
  • 4. The New Model Unmet Need New Technology New Business Entertainment Models Consumer Technology leads the Enterprise
  • 5. Business Model Innovation: The Major Change Agents The Internet Google SEO/SEM Enables low-cost customer Web 2.0 acquisition Social Networks Mobile Web
  • 6. Next Generation Web Innovation  Traditional Magazines go on-line  Polyvore  E-Commerce  Gilt, BuyWithMe, Swoopo  Traditional Software  Open Source, SaaS  Job Ads  Monster.com  theLadders.com  Paper Ads  Banner Ads  Search, Lead Gen  Yellow pages  on-line Yellow Pages  Google Maps with GPS assisted search
  • 7. A Common Theme  Business model disruption behind the innovation  Use the Web to acquire traffic, then monetize  Monetization strategies  Transactions  Subscriptions  Ads  Virtual Goods  Etc.  But – there’s a problem: Startup Killer
  • 8. An out of balance Business Model Entrepreneurs are over-optimistic Cost to Acquire a Customer (CAC) Monetization (LTV)
  • 9. CAC for a Web driven business Input Variables Total Web Visitors 10,000 SEM cost per click $ 0.50 Conversion to Trial % 5% Trial conversion % 10% No of Sales & Marketing Staff 3 Cost per employee per month $ 16,500 Flow Qty. Conversion % Total Paid Web Vistors 10,000 Trials 500 5% Customers 50 10% SEM Marketing Spend $ 5,000 Total Headcount Costs $ 49,500 Cost of Customer Acquisition Without headcount costs $ 100.00 With headcount costs $ 1,090.00
  • 10. CAC for a Direct Salesforce Sales Sales Eng Inside Sales Annual numbers Team composition 1 1 0.5 On target earnings $ 230,000 $ 140,000 $ 90,000 Salary Cost $ 230,000 $ 140,000 $ 45,000 Salary + Overhead $ 310,500 $ 189,000 $ 60,750 Total Team Cost $ 560,250 Avg. team Failure Rate 25% Adjusted Team Cost $ 747,000 No. of Marketing people 0.5 Average cost per person $ 200,000 Marketing Programs Spend $ 150,000 Total Marketing Costs $ 350,000 Total Sales & Marketing spend $ 1,097,000 No of deals per team per year 10 Cost of Customer Acquisition $ 109,700
  • 11. What we are looking for A well balanced business model Monetization (LTV) Cost to Acquire a Customer (CAC)
  • 12. The Balancing Act • Viral effects • Inbound Marketing • Free or Freemium • Open Source • Free Trials • High Churn Rates • Touchless conversion • Low customer • Inside Sales satisfaction • Channels • Strategic partnerships Cost to Acquire Monetization a Customer (LTV) CAC) • Field Sales • Recurring Revenue • Outbound Marketing • Scalable Pricing • Cross Sell/Upsell • Product line expansion • Lead Gen for 3rd parties
  • 13. My rules for CAC/LTV balance in a SaaS model  LTV > 3 x CAC  Recover CAC in < 12 Months  Required for Capital Efficiency
  • 14.
  • 15. Typical Customer Acquisition Funnel Repeat Suspects First Sale Business
  • 16. Funnel Blockage Points  Every company has a problem point in the funnel  Even Microsoft, Cisco, Oracle, etc.  Even eBay, Amazon, Google, etc.  To identify this, ask the question:  “What would you have to do to increase sales by 10x?”
  • 17. Why?  There’s a clear pattern: Failure to align your process with the customer’s motivations
  • 18. In other words… You are hoping your customers will do something that they are not motivated to do
  • 19. Get inside your Customer’s Head? - I don’t have the time Concerns - I have higher priority things to focus on - I already have software that does this - I don’t want to get spam email - It will be painful to switch - Yet another data integration headache
  • 20. Understand what Motivates them Concerns Motivation
  • 21. The Psychological barrier is bigger than you think People tend to Software makers overvalue the tend to overvalue the software they software they offer currently use by by about a factor of 3 about a factor of 3 3x 3x 9x Harvard Business Review, June 2006 Eager Sellers, Stony Buyers by John T Gourville (Thanks also to Josh Porter - Designing for Social Traction)
  • 22. Example: Driving traffic to your web site Concerns Getting Found - Not going to find your site unless: - You are on top page of Google search that I am doing - You were recommended to me by a trusted source - I see something interesting written about you in social media or blogosphere
  • 23.
  • 24.
  • 25. Using Engineering for Marketing
  • 26. Getting Customers to sign up for a Trial - I don’t have the time Concerns - I already have software that does this - I don’t want to get spam email - I don’t want yet another password to remember
  • 27. Re-think the process Conventional Approach Sign up Use Customer Immediate Engagement Use Sign up Customer Source: Josh Porter – Designing for Social Traction
  • 28.
  • 29. Getting to Executive Decision Makers TechCrunch for Insurance Claims
  • 30. Sales Funnel Design: The Usual Way  Build the sales process from the inside out  Why these usually don’t work:  Customer motivation is not aligned with proposed steps
  • 31. Building a Sales & Marketing Machine  Scientific process for designing and evaluating sales and marketing programs  Defining “Machine”:  A scalable process that can be cranked up when needed  Requiring minimal manual intervention  Clear understanding of costs and returns  Dashboard providing Key Performance Indicators
  • 32. Customer Driven Approach  Start with a detailed understanding of your customer  Segment your market into named Personas:  Call Center Connie, IT Ian, Reseller Robert  Define the Personas  Age: 35; Married, 2 Kids; Car: Toyota Prius  Likes, Dislikes  Product sophistication, technical abilities  Where they hang out on the web  What their boss expects of them  Their buying goals  Their buying concerns  Etc.
  • 34. Add the steps to address the buying process
  • 35. Define the Actions to move them through funnel
  • 36. Customer Concerns and Motivations (JBoss Case Study) • Is JBoss a market leader? • Operations • Technical people: Safe features? Choice? • Cost? • Price? • Good support? • Quality of • Easy of • Scalability & support? download/use? • Safe Choice? • Cost? reliability? • How much • Good support? • Quality? • Cost? • Quality of did we use • Fit with other • Successful • Open Source • Scalability? • Quality of datacenter support? implemen- it? fears • Good support? support? tools? • Value? tation • Value? Download & Purchase Put JBoss Purchase Renew J2EE Hear about Decision to Std-ize and evaluate Training / into Production support Developer JBoss use JBoss Expand JBoss Dev Suppt Production Support contract • Price • Price • References • Price • Need for • Price • Good support • Easy to • Architecture, • Developer’s • Production insurance • Perceived download and Features, providing References • References value get started Performance, support • Partners • Value • Recommen- etc. proposition • Leadership dation • J2EE quadrant of (needs • Positive certification analysts? improving) Review • References • Press articles • Partners
  • 37. Remaining steps  Test Linkages between steps  Software to automate (particularly linkages)  Define organizational resources for each step  Add Instrumentation (Metrics) Refer to my Blog for more details
  • 38. Key Funnel Metrics Campaigns to drive traffic Visitors Overall Conversion % Conversion % Trials (by lead source) Conversion % Closed Deals
  • 39. Brainstorming Topics  Bottlenecks  Where are we failing to move people successfully?  Why? & What can be done about it?  Conversion rates  Creative ways to increase these for each stage  Throughput  Why can’t we quadruple the throughput?  Cost of Customer Acquisition  Look at the cost of each step and ask if it can be done in a cheaper way  Duration  Can we shorten the overall duration of the sales cycle
  • 40.
  • 41. Buying Behavior has Changed “Please understand that I get dozens of these types of messages a week. I simply do not have time to read them, dig into them, follow-up on them, or reply to them. The most effective solution to this problem is for me to ignore the messages, which is what I usually do. … … Finally, a small comment. As a customer, I find this type of approach to sales to be largely annoying to me and unproductive for you. We learn far more about what we want to purchase by searching the web, looking for customer references in blogs and forums, word of mouth, and by finding white papers on your site that concretely describe solutions to problems we are having.” CIO of Large Pharma Co.
  • 42. Buying Behavior has Changed  Outbound Marketing:  Annoying to your customers  Expensive  Increasingly less effective  What is the new process?  Google Search  Web Site  Reviews  Blogs & Social Media  Influencers  Trials or Free software / services  Avoid sales people  Requires Inbound Marketing thought processes
  • 44. Remarkable Content  Write a Blog  Create content that is REMARKable  Educational  Humorous  Controversial  Use social media (Twitter, Facebook, etc) to build a following  If the content is good it will spread virally
  • 45. The Power of Free  Wired Magazine: Free! Why $0.00 Is the Future of Business  Free is dramatically different to even $1  If done right can lead to viral spread  Examples:  Open Source software (JBoss, Asterisk)  HubSpot’s WebSiteGrader  Monetize some portion of your free customer base  Use of a free product/service develops a level of trusted relationship  Makes it easier to sell something to them
  • 46. Virality  Often hoped for, rarely achieved  The best businesses:  Virality plus Monetization  Examples: – Google – Gilt.com – Zynga  Entire Blog post devoted to this topic:  www.forentrepreneurs.com/lessons-learnt-viral-marketing/
  • 47. The Low Cost Sales Model  Web & Inbound Marketing  Free product, or Free Trial  Insides Sales  Examples  SolarWinds  Constant Contact  LogMeIn  JBoss  HubSpot
  • 48. The Touchless Conversion ZenDesk Web based Help ticket system for customer service  Extraodinarily scalable  Extremely low cost
  • 49. Free Trials require different Product Thinking  The product is your salesperson  Extreme focus on:  Ease of installation  Ease of use  Clear instructions on how to test (short videos, etc.)  Fast proof that it works
  • 50. Enables you to reach the SMB market  Not economically feasible in the past  Now opens up a vast new market  In many ways a better business than Enterprise Software
  • 51. Old World evolving to a New World Charge for everything (including Free Trials on-site trials) Free Product Monetize a Fraction of Custs
  • 52. Old World evolving to a New World  New World  Give things away to optimize spread  Large Footprint of customers = Great brand value  Price low to get fast decisions  Old world  Optimize pricing to extract the most  “But the customer is quite happy to pay that much”  Key realization  CAC is one of the highest P&L expense items  Optimal Pricing limits spread  Optimal Pricing damages CAC
  • 53. Sales process: Touch and Complexity versus Value Value Product Complexity No Touch Light Touch Heavy Touch Field Sales Self-Service Inside Sales Inside Sales with SE’s
  • 54. Where I want to invest Value Complexity No Touch Light Touch Heavy Touch Field Sales Self-Service Inside Sales Inside Sales with SE’s
  • 55. SaaS versus Enterprise Software Value Complexity No Touch Light Touch Heavy Touch Field Sales Self-Service Inside Sales Inside Sales with SE’s
  • 56. Levers you can use to move from Red to Green  Make it easy for customers to sell themselves  Make the first decision to work with your product easy  Simple product  Free versions, Free Trials, Open Source  Remove Complexity from closing the Sale  Remove IT (SaaS)  Eliminate committee decision making  Make the first financial commitment easy  $10,000 or below for enterprise sales  $250 per month for very small business SaaS
  • 57. What can happen when you get this right  SolarWinds  2009 Revenues: $116 million  EBITDA: $60 million 52% operating margins  Others: JBoss, LogMeIn, Constant Contact, Salesforce.com, etc.
  • 58.
  • 59. The Balancing Act • Viral effects • Inbound Marketing • Free or Freemium • Open Source • Free Trials • High Churn Rates • Touchless conversion • Low customer • Inside Sales satisfaction • Channels • Strategic partnerships Cost to Acquire Monetization a Customer (LTV) CAC) • Field Sales • Recurring Revenue • Outbound Marketing • Scalable Pricing • Cross Sell/Upsell • Product line expansion • Lead Gen for 3rd parties
  • 60. Recurring Revenue  Benefits  Predictability – highly valued by Wall St  Future revenue and cash flow for an acquirer
  • 61.
  • 62. The Highlights  Breakthrough Business Model  Open Source  A great example of the power of Free  5 million downloads  The first challenge: How to monetize  The second challenge: Conversion  While keeping CAC low  Solution: Build a Sales & Marketing Machine
  • 64. The First Blockage Point  5 million users had downloaded JBoss  But none had given their names  The problem:  email registration in front of download reduces conversion rates significantly  The Solution  Look for something that those developers really wanted  JBoss had been earning $27k per month for documentation  Solution: give this away, in exchange for email address
  • 65. JBoss - Sales & Marketing Machine Enterprise Suspects Closed Deals Rollouts Web Web Phone Inside Leads Scoring Call Sales Lead Nurturing
  • 66. Metrics: The End Goal Web Tele- Tele- activity marketing sales scoring
  • 67. Using the model to work backwards Web Tele- Inside- activity marketing sales scoring  To do $4m in the month:  If Average Deal Size is $10k  Need $4m divided by $10k deals to reach target = 400 deals  Means 1,200 deals being worked in Inside sales (400x4)  Know that each rep can work 60 deals at a time, means 20 reps  Means 3,600 telemarketing contacts (1,200x3)  Means 14,400 Raw Leads (3,600x4)
  • 68. The next challenge: Increase LTV  Multi-pronged approach  Add services to the subscription (beyond just support)  Key service was JBoss Operations Network  Broaden the product line and upsell  JBoss Enteprise Middleware Suite (JEMS)  Scalable Pricing  4 axes to drive pricing higher  Result  Drove average deal size from $10k to $50k  While maintaining the same pipeline flow and conversion rates
  • 69. The Results  Before venture financing  2003 $2m  Early 2004 – venture round closes  Revenue Growth:  2004 $11m  2005 $26m  2006 on plan to do $65m
  • 70. JBoss Summary  Business Model disruption  Gave the product away entirely free  Monetized support & management  Low CAC  Leveraged free and virality to acquire non-paying customers  Sales & Marketing Machine  Careful study of customer motivations  Low cost Sales model  Excellent Metrics  Scalable pricing model
  • 71.
  • 72. Lessons Learned  Business Model Innovation  CAC / LTV balance  Build a Sales & Marketing Machine  Customer Centric behavior with Personas  Buying cycle diagram comes first  Customer Motivations and issues analysis at each stage  Metrics  Remove Blockage Points  Quarterly Brainstorming
  • 73. Lessons Learned - (continued)  Understand the new buying behaviors  Think Inbound versus Outbound  Look for the breakthrough techniques  Free products / services  Use R&D as a marketing tool  Free Trials  Look for the next evolution in the business model  Don’t just think web-enabling of current ways  What does the web let me do that I can’t do today?
  • 74. This is all obvious  Vision is easy  Execution is the hard part  All comes down to hiring great teams
  • 75. For More information  Visit my blog at www.forEntrepreneurs.com