Descripción: Tech entrepreneur Ryan Allis shares how to acquire users and customers including information on customer acquisition cost (CAC), lifetime...
Tech entrepreneur Ryan Allis shares how to acquire users and customers including information on customer acquisition cost (CAC), lifetime value (LTV), growth hacking, offline and online mark…Full description
Entrepreneur Ryan Allis presents the Networks section of The Startup Guide: Building a Better World Through Entrepreneurship. This section covers how to surround yourself with high quality p…Full description
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manga studio start up guideFull description
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Tech entrepreneur Ryan Allis shares how to create a basic lightweight business plan that can help clarify what problem you're solving and what you're creating before you build it. This prese…Description complète
Tech entrepreneur Ryan Allis shares how to create a basic lightweight business plan that can help clarify what problem you're solving and what you're creating before you build it. This prese…Descripción completa
Descripción: Tech entrepreneur Ryan Allis shares how to raise venture capital for your startup and how to keep costs low and bootstrap in the beginning. This presentation is part of The Startup Guide: Building ...
Tech entrepreneur Ryan Allis shares how to create a basic lightweight business plan that can help clarify what problem you're solving and what you're creating before you build it. This prese…Deskripsi lengkap
Entrepreneur Ryan Allis presents section one of The Startup Guide: Building a Better World Through Entrepreneurship. This section covers goals, vision boards, and bucket lists. Find more onl…Full description
Entrepreneur Ryan Allis presents section two of The Startup Guide: Building a Better World Through Entrepreneurship. This section covers a list of values to live life with as you go about bu…Full description
Tech entrepreneur Ryan Allis shares how to create a basic lightweight business plan that can help clarify what problem you're solving and what you're creating before you build it. This prese…Full description
Entrepreneur Ryan Allis presents section four of The Startup Guide: Building a Better World Through Entrepreneurship. This section covers finding great mentors who can guide you throughout l…Full description
Tech entrepreneur Ryan Allis shares how to raise venture capital for your startup and how to keep costs low and bootstrap in the beginning. This presentation is part of The Startup Guide: Building ...Full description
Tech entrepreneur Ryan Allis shares how to raise venture capital for your startup and how to keep costs low and bootstrap in the beginning. This presentation is part of The Startup Guide: Bu…Descrição completa
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This discussion paper looks at the rise of startup accelerator programmes in supporting new technology ventures
The
2013 Edition
Building a Better World Through Entrepreneurship
With Ellen Daly
Entrepreneurship
CUSTOMER ACQUISITION
CUSTOMER ACQUISITION BUILD A CONVERSION FUNNEL
BUILD A REAL-TIME CONVERSION FUNNEL TO TRACK RESULTS MONTHLY UNIQUE VISITORS MONTHLY FREE USER SIGNUPS MONTHLY NEW PAYING CUSTOMERS
1,124,194
100%
20,241 3,400
1.8% 16.8%
CUSTOMER ACQUISITION BUILD A CONVERSION FUNNEL
TRACK USER ACQUISITION COST AND CUSTOMER ACQUISITION COST NEW USERS ACQUIRED
20,241
NEW CUSTOMERS ACQUIRED
3,400
SPENT ON ADVERTISING
$1,000,000
COST PER NEW USER
$49.40
COST PER NEW CUSTOMER
$294.11
CUSTOMER ACQUISITION CALCULATE CAC
IF You don’t KNOW YOUR CUSTOMER ACQUISITION COST it’s really DIFFICULT TO
ACQUIRE CUSTOMERS
CUSTOMER ACQUISITION CALCULATE CUSTOMER LTV
IF You don’t KNOW YOUR CUSTOMER LIFE TIME VALUE (LTV) It’s hard to scale
Customer acquisition
CUSTOMER ACQUISITION CALCULATE CUSTOMER LTV
At icontact we acquired 1.1 million TRIAL users And 70,000 paying customers For our email & social marketing SERVICE From 2006-2012
CUSTOMER ACQUISITION EXAMPLE: CALCULATE LTV
ROUGH EXAMPLE OF WHAT YOU CAN SPEND TO ACQUIRE A NEW RECURRING CUSTOMER
Recurring Customer
$50
48 Months
$2400
Up to $800
(50 x 48)
(1/3rd of LTV)
CUSTOMER ACQUISITION EXAMPLE 2: CALCULATE LTV
An EXAMPLE OF WHAT YOU CAN SPEND TO ACQUIRE A Non-recurring CUSTOMER
NonRECURRING Customer
$50
6
$300
Up to $100
(50 x 6)
(1/3rd of 300)
CUSTOMER ACQUISITION SCALE YOUR AD BUDGET SCIENTIFICALLY
SCALE YOUR AD BUDGET SCIENTIFICALLY BY TRACKING LEAD ACQUSITION COST & CONVERSION RATE BY ADVERTISING CHANNEL
CUSTOMER ACQUISITION TEST NEW CHANNELS
10%-15% of your MONTHLY Advertising budget Should be spent on TESTING NEW CHANNELS
CUSTOMER ACQUISITION ONLINE MARKETING CHANNELS
ONLINE MARKETING CHANNELS SEO – GOOGLE, YAHOO, BING PPC - GOOGLE Adwords / BING ADCENTER SOCIAL PRESENCE – FACEBOoK, TWITTER, youTUBE SOCIAL ADS – FACEBOOK, TWITTER, Youtube ADS SOCIAL NETWORK INVITE SYSTEMs – AKA ‘GROWTH HACKING’ DISPLAY – BANNER ADVERTISING AFFILIATES – CJ & LINKSHARE Review SITES – YELP, CITYSEARCH, GOOGLE LOCAL DAILY DEALS – GROUPon & LIVING SOCIAL EMAIL FOLLOWUP – iCOntact & MAILCHIMP
CUSTOMER ACQUISITION GROWTH HACKING
GROWTH HACKING IS USING VIRAL NETWORK EFFECTS TO INCREASE USER ACQUISITION AND ALLOWING YOUR USERS To EASILY INVITE THEIR FRIENDS ON SOCIAL NETWORKS
CUSTOMER ACQUISITION OFFLINE MARKETING CHANNELS
OFFLINE MARKETING CHANNELS TELEVISION PRINT ADVERTISING RADIO YELLOW PAGES DIRECT MAIL TRADESHOWS EVENT SPONSORSHIPS BILLBOARDS CAMPUS REPS
CUSTOMER ACQUISITION TEST ALL CHANNELS
THE KEY IS TO TEST ALL OF THE CHANNELS AND TRACK THE ACTUAL RESULTS FROM EACH ONE
CUSTOMER ACQUISITION KEYS TO SUCCESS WITH MARKETING
THE 6 KEYs TO SUCEESS WITH MARKETING ARE 1. AMAZING WORD OF MOUTH FROM A GREAT PRODUCT 2. KNOWING THE LIFETIME VALUE OF A CUSTOMER 3. A TRACKING SYSTEM THAT CAN TELL YOU COST PER LEAD PER CHANNEL 4. A TRACKING SYSTEM THAT CAN TELL YOU CONVERSION RATE PER CHANNEL 5. CONSTANT TESTING OF NEW CHANNELS, CREATIVE, AND FUNNEL PROCESSES 6. GREAT STORYTELLING
TO INCREASE CUSTOMER ACQUISITION 1. CALCULATE COST PER LEAD & COnVERSION RATE BY CHANNEL 2. DETERMINE WHAT YOU CAN PAY PER NEW CUSTOMER 3. TEST NEW ADVERTISING CHANNELS SCIENTIFICALLY 4. CREATE A PREMIUM VERSION OF YOUR PRODUCt 5. TEST DOUBLING YOUR PRICE AND SEE WHAT HAPPENS 6. GET MORE AFFILIATES/DISTRIBUTORS 7. OPEN UP MORE SALES OFFICES 8. OPEN UP MORE RETAIL LOCATIONS 9. BUILD ADDITIONAL PRODUCTS 10. HIRE MORE SALES PEOPLE 11. HIRE SOMEONE TO SELL MORE TO EXISTING CUSTOMERS 12. RAISe CAPITAL AND EXPAND YOUR ADVERTISING
CUSTOMER ACQUISITION ACQUIRING CUSTOMERS
A business is not a business UNTIL IS HAS
PAYING CUSTOMERS
CUSTOMER ACQUISITION WHAT IS A BRAND?
A BRAND IS SIMPLY THE AGGREGATEd SUM TOTAL OF EVERY Human BEING’S EXPERIENCE WITH YOUR COMPANY & PRODUCTs
CUSTOMER ACQUISITION WHAT IS MARKETING?
MARKETING IS ENSURING THAT THE RIGHT PEOPLE HAVE HEARD THE RIGHT THINGS ABOUT YOUR PRODUCT AND ORGANIZATION
CUSTOMER ACQUISITION WHAT IS GOOD MARKETING?
GOOD MARKETING IS JUST GOOD STORYTELLING ACROSS MULTIPLE MEDIA IN A TRACKABLE AND FINANCIALLY
SCALABLE MANNER
CUSTOMER ACQUISITION MARKETING vs. SALES
MARKETING IS GENERATING AN INTERESTED LEAD. SALES IS TURNING THE LEAD INTO A CUSTOMER. ACCOUNT MANAGEMENT IS TURNING A CUSTOMER INTO