Customer acquisition and retention

Customer acquisition and retention

• 1.
  CUSTOMER CENTRIC SALESPROCESS FOR STARTUPS CUSTOMER CENTRIC SALES PROCESS FOR STARTUPS
• 2.
  TOTAL REVENUE USER BASE REVENUE PER USER (Based on conversion rate) Month 1 XX YS XX$ Month 2 XXX YS XXXX$ …….. ……... Month 6 XXXXXXX YS XXXXX$ Gross Revenue XXXXXXXXXX$
• 3.
  TOTAL REVENUE USER BASE REVENUE PER USER (Based on conversion rate) Month 1 XX YS XX$ Month 2 XXX YS XXXX$ …….. ……... Month 6 ?????? YS XXXXX$ Gross Revenue XXXXXXXXXXX$
• 6.
  How do youattract your customers to you site ? How they are going to use it for first time ? There are three main channels through which some one can find your site  They find it themselves  They find out through the media  They find it from friends
• 7.
  Ask your self Which channels are most appropriate for my business?  How do I minimize the acquisition cost for my channels?
• 8.
  Ensuring there areno holes in your fishing net How effective are you in converting Users to Customers Each type of web startup has its own metrics It need not be sales always For instance for Twitter we can define few metrics which monitors conversion rate as  % of users who follow someone  % of users who have followers  % of users who tweet 5 times a day
• 10.
  Basic principles Removal ofRequirements Take a hard look at every question you are asking people and decide what has to be kept, what can be removed, and what can be deferred until later. Clarity of Requirements A lack of clarity in form labels, input fields, or actions can cause people to misinterpret requirements, thereby leading to errors or failed submissions. Indication of Requirements Indication of what is or isn’t a required in a form can have a meaningful impact on conversion
• 11.
  Love your customer Areyou ready for a long standing relation with customer Needs a conscious effort and work if you ever hope to 'keep the romance alive'.
• 12.
  Common symptoms thathelps you in identifying you have Retention issues When a user says “I have nothing to do here “ “ I don’t see my friends here “ “They haven't build what they have said “ “ Oh! I keep forgetting coming here” “Iam waiting for this feature for a long time” Few tips Always keep customer engaged (eg Review system in Amazon) Focus on community Hear the feedback
• 15.
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