illp 3-customer-segments
Post on 18-Jul-2015
71 Views
Preview:
TRANSCRIPT
Agenda for Session 3
• Q&A about Channels
• Team Presentations: Customer Segments Findings
• Summary about Customer Relationships
• Work for Next Week
Rules for Interviewing• Adopt a beginner’s mind
• Listen more than you talk
• Get facts, not opinions
• Ask “why” to get real motivations
• Do not sell
• Don’t mention solutions too early
• Follow up
• Always open doors at the end
Common Errors on Channel Findings
• Ignore the impact of a channel on its revenue stream
• The more complex the channel, the smaller the margins will be
• Ignore costs to acquire, service and support a channel
• Assume that all startups use direct channels on day one.
Customer Relationship Strategy
• “Get Customers”: Awareness, Interest, Consideration, Purchase
• “Keep Customers”: Interact, Retain
• “Grow Customers”: New Revenue, Referrals
Customer Relationships Tactics
• “Get Customers”: Earned Media (pr, blogs, etc), Paid Media (ads, promotion), Online Tools
• “Keep Customers”: Loyalty programs, customer surveys, check-in calls
• “Grow Customers”: Up-sell, cross-sell, next-sell, unbundling
Key Concepts
• CAC: Costumer Acquisition Cost
• Churn: costume attrition
• LTV: costumer Life Time Value
Objective Pass/Fail Metrics
• Get 5 product reviews in blog (€1000): 50 inquiries
• 1000 flyers (€100): 10 inquiries
• Ad in magazine (€500): 10 sales
• Google AsWords (€500): 5 sales
Sales = 15 + 10% of 60 = 21 CAC=€100
Presentation for Next Week
• Slide 1: Cover slide
• Slide 2: Business Model Canvas (changes marked in red, different colors for multi-sided markets)
• Slide 3-n: What is the distribution channel: hypothesis, experiments, results, action
• Slide n+1: Channel diagram with annotated channel economics
• Slide n+2: Images of your prototype
Before Next Class• Talk to 10 customers and channel partners
• Update LPC Narrative and Canvas
• Work on your MVP: site or wireframe (web/mobile), prototype, model, crowdfunding (physical product)
• Prepare Class Presentation
• Watch Lecture 5: Customer Relationships
top related