nsf online lecture 5 customer relationships
TRANSCRIPT
![Page 1: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/1.jpg)
NSF I-CorpsThe Lean LaunchPad
Lecture 5 Customer Relationships
Version 6/13/12
How Do You Get/Keep/Grow Customers?
![Page 2: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/2.jpg)
Customer Relationships
How do you Get, Keep and Grow Customers?
![Page 3: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/3.jpg)
© 2012 Steve Blank
![Page 4: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/4.jpg)
Customer Relationships Physical & Web Mobile Are Different
© 2012 Steve Blank
![Page 5: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/5.jpg)
Customer Relationships Physical Products – Get Customers
© 2012 Steve Blank
![Page 6: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/6.jpg)
Customer Archetypes Drive Get/Keep/Grow
• What’s their role?– How this person is evaluated / promoted /
compensated?
• Who are they?– Buyer’s name– Position / title / age / sex
• How do they buy?– Discretionary budget (name of budget and
amount)
• What matters to them?– What motivates them?
• Who influences them?– What do they read/who do they listen to?
Lab Manager: Brian
![Page 7: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/7.jpg)
Paid Demand Creation Activities“Paid” Media
• Public Relations• Advertising• Trade Shows• Webinars• Email marketing• On-line SEM • Biz Dev
Demand Creatio
n
![Page 8: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/8.jpg)
Free Demand Creation Activities“Earned” Media
• Publications in journals• Conference speeches/papers• Educational seminars• Public relations• Blogging / Sharable content• Social Media• Communities
Demand Creation
![Page 9: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/9.jpg)
Customer Relationships Physical Products – Get Customers
© 2012 Steve Blank
![Page 10: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/10.jpg)
Customer Relationships Physical Products – Get Customers
© 2012 Steve Blank
CAC = Customer Acquisition Cost
![Page 11: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/11.jpg)
Customer Acquisition Cost versus Sales Complexity
Rough Estimates of Cost of Customer Acquisition (CAC)
Source: David Skok Matrix Partners
![Page 12: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/12.jpg)
Customer Relationships Physical Products – Keep Customers
© 2012 Steve Blank
![Page 13: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/13.jpg)
Customer Relationships Physical Products – Keep Customers
© 2012 Steve Blank
Attrition/Churn
![Page 14: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/14.jpg)
Customer Relationships Physical Products – Grow Customers
© 2012 Steve Blank
![Page 15: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/15.jpg)
Customer Relationships Physical Products – Get/Keep/Grow
© 2012 Steve Blank
LTV = Customer Lifetime Value
![Page 16: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/16.jpg)
Customer Relationships Web/Mobile Products– Get Customers
© 2012 Steve Blank
![Page 17: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/17.jpg)
Web/Mobile Products– Get Customers
© 2012 Steve Blank
CPM = cost per thousand hits
![Page 18: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/18.jpg)
Web/Mobile Products– Get Customers
© 2012 Steve Blank
CPA = Cost per Action
![Page 19: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/19.jpg)
SaaS Products– Get Customers
© 2012 Steve Blank
Organic Traffic, SEM, Other Paid
Sources
Raw Leads
Registered Visitors
Qualified Leads
Inside SalesClosed Deal
![Page 20: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/20.jpg)
Web/Mobile Products– Keep Customers
![Page 21: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/21.jpg)
Our Example Marketing Funnel
Quick Marketing Calculation 50% amount of traffic that is organic versus paid
$1.50 cost per paid visitor (Google AdWords, etc.) $ 0.75 Cost per visitor (both paid and unpaid)
3% visitors convert to raw leads 20% number of raw leads that turn into qualified leads
1 qualified lead 5 raw leads required
167 visitors required $125 Cost of visitors (also = Cost per qualified lead)
Source: David Skok Matrix Partners
![Page 22: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/22.jpg)
Our Example Marketing Funnel
Quick Marketing Calculation 50% amount of traffic that is organic versus paid
$1.50 cost per paid visitor (Google AdWords, etc.) $ 0.75 Cost per visitor (both paid and unpaid)
3% visitors convert to raw leads 20% number of raw leads that turn into qualified leads
1 qualified lead 5 raw leads required
167 Visitors required $125 Cost per qualified lead
Source: David Skok Matrix Partners
![Page 23: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/23.jpg)
Our Example Marketing Funnel
Cost per Qualified Lead $125 Leads to closed deal 10Marketing Costs per closed deal $1,250
Source: David Skok Matrix Partners
![Page 24: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/24.jpg)
We Can Compute CAC and LTV
Lead Gen costs per deal $ 1,250 Excludes people costs (Cost per qualified lead x no of leads required per closed deal)
Selling costs per deal $ 1,620 Excludes cost of sales management
Total CAC $ 2,870 Excludes people costs in marketing, and sales management. (CAC= Cost to Acquire a Customer)
Total LTV $ 16,000 Calculated by dividing average monthly gross profit per customer (ARPU x Gross Margin ) by the churn rate
This excludes people costs in marketing, and sales management costs
Source: David Skok Matrix Partners
![Page 25: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/25.jpg)
Balancing CAC/LTV in a SaaS model
LTV CAC> 3x
Months to recover CAC < 12 months
Required for Capital Efficiency
Source: David Skok Matrix Partners
![Page 26: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/26.jpg)
What Investors are Looking For
Monetization(LTV)
Cost toAcquire aCustomer
(CAC)
A well balanced business model
Source: David Skok Matrix Partners
![Page 27: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/27.jpg)
The Balancing Act
Monetization(LifeTime Value LTV)
Cost to Acquire a Customer (CAC)
• Viral effects• Inbound Marketing• Free or Freemium• Open Source• Free Trials• Touchless conversion• Inside Sales• Channels• Strategic partnerships
• Scalable Pricing• Cross Sell/Upsell• Product line expansion• Lead Gen for 3rd
parties
Source: David Skok Matrix Partners
![Page 28: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/28.jpg)
The Balancing Act
Monetization(LifeTime Value LTV)
Cost to Acquire a Customer (CAC)
• Viral effects• Inbound Marketing• Free or Freemium• Open Source• Free Trials• Touchless conversion• Inside Sales• Channels• Strategic partnerships
• Field Sales• Outbound
Marketing
• Scalable Pricing• Cross Sell/Upsell• Product line expansion• Lead Gen for 3rd parties
• High Churn Rates• Low customer
satisfaction
Source: David Skok Matrix Partners
![Page 29: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/29.jpg)
Customer Relationships Web/Mobile Products– Keep Customers
© 2012 Steve Blank
![Page 30: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/30.jpg)
How Churn affects LTV
• Average customer lifetime in months =
1 / Monthly Churn
Source: David Skok Matrix Partners
![Page 31: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/31.jpg)
How Churn affects Lifetime
1% 2% 5%0
20
40
60
80
100
120
100
50
20
Lifetime vs Churn RateMonths
Monthly Churn
Source: David Skok Matrix Partners
![Page 32: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/32.jpg)
How Churn affects LTV
Lifetime Value
Monthly Churn
Source: David Skok Matrix Partners
![Page 33: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/33.jpg)
Impact of lowering Churn
Month 1
Month 3
Month 5
Month 7
Month 9
Month 11
Month 13
Month 15
Month 17
Month 19
Month 21
Month 23
Month 25
Month 27
Month 29
Month 31
Month 33
Month 35
$(400,000)
$(200,000)
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
Net Profit
Churn 1.25% Churn 2.5%
Month 1
Month 3
Month 5
Month 7
Month 9
Month 11
Month 13
Month 15
Month 17
Month 19
Month 21
Month 23
Month 25
Month 27
Month 29
Month 31
Month 33
Month 35
$(4,000,000)
$(2,000,000)
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
Cumulative Net Profit
Churn 1.25% Churn 2.5%
• Impact of lowering the churn rate is felt more heavily in the later years, as expected• It has a significant impact on the long term profitability of the business
Source: David Skok Matrix Partners
![Page 34: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/34.jpg)
Churn
• 1% to 2.5% churn per month is acceptable • Higher than that, you are filling a leaky bucket
– Need to understand why you have low customer satisfaction and address the problem
Source: David Skok Matrix Partners
![Page 35: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/35.jpg)
Customer Relationships Web/Mobile Products– Grow Customers
© 2012 Steve Blank
![Page 36: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/36.jpg)
Customer Relationships Web/Mobile Products Get/Keep/Grow
© 2012 Steve Blank
![Page 37: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/37.jpg)
Ag Robot Customer Relationships Example
![Page 38: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/38.jpg)
Demand generation plan and budget
• Word of mouth generation – 2 systems for “Demo day events”– 2 systems for customer demos– 4 x 30K each = $120,000
• World Ag Expo Booth – 1 x 40x40 corner booth with demo – Hold press event breakfast – $ 15 K (booth, banners, hotels)
• Magazine campaign – 3 ads in 2 magazines – Goal – get 2 articles on us– 2 x $ 10K + Ad agency = 30K
• Total $165 K“You prove that it works and everything else is easy. Distribution is not that complicated in farming.” – Wyatt Duncan, Integrated Crop Pest Control
![Page 39: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/39.jpg)
Medical Device Customer Relationships Example
![Page 40: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/40.jpg)
MammOpticsMarketing
![Page 41: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/41.jpg)
Access to ACOG by former member
Strong influence on doctors via ACOG Standard of Care
Strongly influenced by
KOLs
MammOpticsMarketing
![Page 42: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/42.jpg)
Researchers conducting
important clinical trials
Researchers with numerous
publications
Outsourced survey research
Researchers with strong peer
recommendations
MammOpticsMarketing
![Page 43: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/43.jpg)
Focus on prominent journals Need two big
publications
Choose KOL as Principal Investigators
(PI)
MammOpticsMarketing
![Page 44: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/44.jpg)
Effective method for educating
doctors
Doctors required to attend
workshops
Workshop must be approved by ACOG
Taught by objective medical
experts
MammOpticsMarketing
![Page 45: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/45.jpg)
ACOG Annual Clinical
Meeting
Miami Breast Cancer Conference
Opportunity for feedback from
doctors
MammOpticsMarketing
![Page 46: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/46.jpg)
Trusted information source for patients
Critical opinion leader for
technology adoption
Access to media outlets
MammOpticsMarketing
![Page 47: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/47.jpg)
MammOpticsCustomer Acquisition Cost
Direct sales
Marketing
Device
Head sales5 reps
BonusesExpenses
MarketeerCoordinator
2 conferences
Processing unitRF Circuitry
LasersPackaging
$120,000
$60,000/e
$30,000$20,000$100,000$60,000
$25,000/e
$200$500
$1,500$2,000
Assume 200 sales per year at a $25,000 giving a profit of $3.2M
CAC $4,500
COGS $4,200
![Page 48: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/48.jpg)
Housing AppCustomer Relationship Example
![Page 49: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/49.jpg)
49
• We ran a Facebook ad to test actual willingness to pay for this service
2
![Page 50: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/50.jpg)
50
• To test willingness to pay we used threeidentical ads with three different landing pages
2
![Page 51: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/51.jpg)
51
• To test willingness to pay we used threeidentical ads with three different landing pages
2
Ad Sign-ups Clicks Ad spend
Free 0 23 $25
$1/household 0 25 $25
$1/user 0 24 $25
• Unfortunately, test results only proved users did not trust our site for payments
• Facebook traffic on this campaign was on our page for 4 seconds on average
• Roommate campaign had a 1:37 site time average• Outstanding question: can we win trust in other ways and then
engage users to pay rent through us?
![Page 52: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/52.jpg)
52
• Customer archetype: Sara
How she searches Wants to be efficient (will use a broker if doing a
search on her own is too painful) Asks friends for recommendations
What Matters to Sara Wants to live in a fun place that is safe Doesn’t want to overpay Doesn’t have much time to hunt for a place Live with someone she trusts (moving to DC)
Influences Where friends go out/live Work location
![Page 53: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/53.jpg)
Online DatingCustomer Relationships Example
![Page 54: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/54.jpg)
What We Did: Landing Page + Web App
![Page 55: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/55.jpg)
4 day progress report
What We Found: High referral traffic
Overall Signup progress
31 filled 5-min survey
1258
136
10.8%
![Page 56: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/56.jpg)
Hypothesis: Women-in-relationships are likelier to click through, irrespective of distance status
Tested for $30 Facebook click through & conversion from FB impressions
Demand generation testWhat we did: Targeted women, all couples
Ad-1
Ad-4
Ad-3
Ad-2
![Page 57: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/57.jpg)
What we found: women click more ...................................but not clear who will pay!
IIWomen likelier to click through irrespective of distance status
Couples will pay subscription if they find more sharing during free trial valuable
Subscription model test
LDRs
SLRs 4
6
Good if free
1
Paid
1
Takeaway: “More sharing” without convenience will have to be free.
LOCATION Impressions Men Women Women-in-rel
87140
Click Through rates
Demand generation test
![Page 58: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/58.jpg)
Funnel: “Couples” campaign
Demand generation testWhat we found: Clicks, no web app usage
$ 29.7 this week
304,286 impressions
122 uniques85 new
30 sign-up clicks
0.01 c
0.35 c/new
0.99 c24.6% conversion
but one used web app
![Page 59: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/59.jpg)
Online SalesCustomer Relationships Example
![Page 60: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/60.jpg)
Referenced to our web site
Fill out savings calculator
Send request to sales
Reconnection with viable customer
Visit to site
Close sale
50%
20%
30%
80%
10%
Year 1 Year 5
70%
30%
30%
80%
20%
Total Revenue
Total Revenue1.44 million 18.14 million
100 000 hits 300 000 hits
Web funnel
![Page 61: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/61.jpg)
Mobile App Customer Relationships Example
![Page 62: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/62.jpg)
Success Depends on Virality > Churn
Ratio of early stage virality rate to churn rate = 2.00x
![Page 63: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/63.jpg)
Success Depends on Virality > Churn
Ratio of early stage virality rate to churn rate = 1.50x
![Page 64: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/64.jpg)
Success Depends on Virality > Churn
Ratio of early stage virality rate to churn rate = 1.0x
![Page 65: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/65.jpg)
Demand creation via website
“Not a landing page”No Indonesian version
1 32
Doesn’t show the product
![Page 66: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/66.jpg)
Demand creation via website - results
1 2 30
20406080
22
68 74Clicks
1 2 30.00%0.50%1.00%1.50%2.00%
0.59%
1.25%1.56%
CTR
1 2 30
0.5
1
1.5 1.34
0.54 0.62
CPC
1 2 30.00%1.00%2.00%3.00%4.00%5.00%
0.00%
2.94%4.05%
Conversions per click
People need to use the product for us to maximize learning
![Page 67: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/67.jpg)
Software Reference Tool Customer Relationships Example
![Page 68: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/68.jpg)
AdWords Testing
![Page 69: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/69.jpg)
AB Testing Results
0% conversion 42% conversion 75% conversion 32% conversion
• Original Peaya website has 66% conversion rate• Conversion defined as people clicking the download button on the landing page• Experiment still underway; too few data points for drawing conclusions
![Page 70: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/70.jpg)
Google & Facebook campaigns
• Keywords: free endnote, reference manager, pdf manager, Itunes for digital content, I tunes, manage pdf, organize paper, paper manager, citation manager, paper citation, cite pdfs
• 24 impressions, 2 clicks on google adwords• Clicks on free endnote and organize paper• No Facebook response• 1 Post on ResearchGate drew 7 visitors
![Page 71: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/71.jpg)
We’re “a little” viral
12% of sign-ups from referrals14 of 117 new registrations came from referrals by 3 people from Jan 1 to Feb 1.
Referral bonus promoted in tutorial
![Page 72: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/72.jpg)
Collaboration doesn’t “pop”…. yet
“Rate & Discuss” is least interesting tutorial screen so far
However:1) we can test different messages
(ie “collaborate”) 2) experiment is slightly biased in
ordering, we need further testing
![Page 73: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/73.jpg)
Customer Relationships Example
![Page 74: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/74.jpg)
Search Keywords
Lesson Learned:Very little search traffic -> a “missionary” sales effort
![Page 75: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/75.jpg)
Highly Competitive Keywords
Lesson Learned:AdWords (paid SEM) is not going to be an efficient channel with these keywords
![Page 76: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/76.jpg)
Medical Device Customer Relationships Example
![Page 77: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/77.jpg)
Channel Incentives
Hospitals
Pain Clinics
Per Diem Revenue Model
Per Service Revenue Model
In-patient care/ hospitalization
Out-patient care/ home setting
Private Hospitals, specialty clinics
HMO, ACO, Non-profit, University Hospitals
All Institutions
VP
High Value Therapies
Pharmacoeconomics
Dosing flexibility
Efficient patientmanagement
![Page 78: Nsf online lecture 5 customer relationships](https://reader033.vdocuments.site/reader033/viewer/2022042615/55d4f769bb61eb691f8b4609/html5/thumbnails/78.jpg)
Demand Creation
Budget ~ $300 k/year