Module Six topics associated with the new venture realization roadmap.
Customer acquisition metrics are the second category of startup performance measures closely associated with product engagement. As your venture moves from your early product testing to product launch, you shift your focus from customer engagement to customer acquisition. In the early MVP iterations, you are not interested in the acquisition, only engagement. In fact, in … Continue reading Startup Metrics | Customer Acquisition
In an earlier post, I have discussed the sales funnel's role in selecting promotional strategies to reach, acquire, and retain your target customer. Each stage of the sales cycle - Awareness, Consideration, Decision, and Post Purchase - was mapped to crucial marketing decisions. Focusing on a specific customer segment, you would take each stage of the … Continue reading Startups: Know Your Early Customer Metrics
The last post highlighted how startups could apply the traditional marketing mix framework - Product, Price, Place, & Promotion (the four "Ps" - to develop an integrated market entry strategy. Now let's take a deeper look at the selection and testing of promotional strategy to reach and convert early target customers. As a starting point, … Continue reading Determining Sales Cycle Promotional Strategies
One of the most challenging goals for a startup is attracting and acquiring the proper number of customers to sustain and grow your venture. To gain adequate traction with your target customers, several aspects of your business model must align correctly, especially the customer relations and channel strategies. In an earlier post, I highlighted some … Continue reading Market Entry Strategies for Startups
As entrepreneurs, product developers, and innovators, we tend to get caught up in the technical functionality of our solutions. As I have stated before in this blog, founders tend to be enamored with their conception of the customer's solution rather than the problem itself. Many innovators begin by thinking about the functionality of their proposed … Continue reading Starting with Customer Outcomes
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