The Startup Guide - Customer Acquisition & Marketing

Startup
Guide
2013 Edition
The
SHARE FREELY
Building a Better World Through Entrepreneurship
RYAN ALLIS With Ellen Daly

CEO of Connect.com
More slides at www.startupguide.com
STARTUPGUIDE.COM
CUSTOMER ACQUISITION
Entrepreneurship
519
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 20,241 3,400

16.8%
100% 1.8%
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520
CUSTOMER ACQUISITION BUILD A CONVERSION FUNNEL
TRACK USER ACQUISITION COST AND CUSTOMER ACQUISITION COST

EXAMPLE: NEW USERS ACQUIRED NEW CUSTOMERS ACQUIRED SPENT ON ADVERTISING COST PER NEW USER COST PER NEW CUSTOMER
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MARCH 2017 20,241 3,400 $1,000,000 $49.40 $294.11

521
CUSTOMER ACQUISITION CALCULATE CAC
IF You dont KNOW YOUR CUSTOMER ACQUISITION COST its really DIFFICULT TO
ACQUIRE CUSTOMERS
STARTUPGUIDE.COM 522
CUSTOMER ACQUISITION CALCULATE CUSTOMER LTV
IF You dont KNOW YOUR CUSTOMER LIFE TIME VALUE (LTV) Its hard to scale
Customer acquisition
523
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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
Monthly Revenue Recurring Customer
$50
Average Customer Life

48 Months
Lifetime VALUE (LTV)

$2400
(50 x 48)
What You Can Spend to Acquire a New Customer

Up to $800
(1/3rd of LTV)
STARTUPGUIDE.COM
525
CUSTOMER ACQUISITION EXAMPLE 2: CALCULATE LTV
An EXAMPLE OF WHAT YOU CAN SPEND TO ACQUIRE A Non-recurring CUSTOMER

Average Number Average of Purchases Purchase Price Within 3 Years NonRECURRING Customer
$50 6
3 Year Revenue Estimate

$300
(50 x 6)
What You Can Spend to Acquire a New Customer

Up to $100
(1/3rd of 300)
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526
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. 2. 3. 4. 5. 6. AMAZING WORD OF MOUTH FROM A GREAT PRODUCT KNOWING THE LIFETIME VALUE OF A CUSTOMER A TRACKING SYSTEM THAT CAN TELL YOU COST PER LEAD PER CHANNEL A TRACKING SYSTEM THAT CAN TELL YOU CONVERSION RATE PER CHANNEL CONSTANT TESTING OF NEW CHANNELS, CREATIVE, AND FUNNEL PROCESSES GREAT STORYTELLING
533
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CUSTOMER ACQUISITION INCREASING Customer ACQUISITION
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
534
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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 BEINGS 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
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A LIFETIME EVANGELIZER.
539
CUSTOMER ACQUISITION BUILD A GREAT PRODUCT
IN TODAYs WORLD MARKETING STARTS WITH
PRODUCT DEVELOPMENT
540
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CUSTOMER ACQUISITION MARKET A GREAT PRODUCT
YOU CanT SUCCEED FOR LONG MARKETING
A BAD PRODUCT
CUSTOMER ACQUISITION STOP MARKETING A BAD PRODUCT
SO IF Youre marketing A BAD PRODUCT
STOP
CUSTOMER ACQUISITION ONLY BUILD GREAT PRODUCTS
AND PUT YOUR FUNDS INTO BUILDING A
GREAT PRODUCT
CUSTOMER ACQUISITION STORYTELLING AS MARKETING
THEN WHEN YOU HAVE A GREAT PRODUCT
START STORYTELLING
Startup Guide
2013 Edition
The
SHARE FREELY
Building a Better World Through Entrepreneurship
RYAN ALLIS With Ellen Daly

CEO of Connect.com
More slides at www.startupguide.com

The Startup Guide - Customer Acquisition & Marketing

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Startup

Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly

CUSTOMER ACQUISITION BUILD A CONVERSION FUNNEL

BUILD A REAL-TIME CONVERSION FUNNEL TO TRACK RESULTS

1,124,194 20,241 3,400

CUSTOMER ACQUISITION BUILD A CONVERSION FUNNEL

TRACK USER ACQUISITION COST AND CUSTOMER ACQUISITION COST

MARCH 2017 20,241 3,400 $1,000,000 $49.40 $294.11

CUSTOMER ACQUISITION CALCULATE CAC

CUSTOMER ACQUISITION CALCULATE CUSTOMER LTV

CUSTOMER ACQUISITION CALCULATE CUSTOMER LTV

At icontact we acquired 1.1 million TRIAL users

CUSTOMER ACQUISITION EXAMPLE: CALCULATE LTV

Average Customer Life

Lifetime VALUE (LTV)

What You Can Spend to Acquire a New Customer

CUSTOMER ACQUISITION EXAMPLE 2: CALCULATE LTV

An EXAMPLE OF WHAT YOU CAN SPEND TO ACQUIRE A Non-recurring CUSTOMER

3 Year Revenue Estimate

What You Can Spend to Acquire a New Customer

CUSTOMER ACQUISITION SCALE YOUR AD BUDGET SCIENTIFICALLY

CUSTOMER ACQUISITION TEST NEW CHANNELS

CUSTOMER ACQUISITION ONLINE MARKETING CHANNELS

ONLINE MARKETING CHANNELS

CUSTOMER ACQUISITION GROWTH HACKING

CUSTOMER ACQUISITION OFFLINE MARKETING CHANNELS

OFFLINE MARKETING CHANNELS

CUSTOMER ACQUISITION TEST ALL CHANNELS

CUSTOMER ACQUISITION KEYS TO SUCCESS WITH MARKETING

THE 6 KEYs TO SUCEESS WITH MARKETING ARE

CUSTOMER ACQUISITION INCREASING Customer ACQUISITION

TO INCREASE CUSTOMER ACQUISITION

CUSTOMER ACQUISITION ACQUIRING CUSTOMERS

A business is not a business UNTIL IS HAS

CUSTOMER ACQUISITION WHAT IS A BRAND?

CUSTOMER ACQUISITION WHAT IS MARKETING?

CUSTOMER ACQUISITION WHAT IS GOOD MARKETING?

CUSTOMER ACQUISITION MARKETING vs. SALES

CUSTOMER ACQUISITION BUILD A GREAT PRODUCT

IN TODAYs WORLD MARKETING STARTS WITH

CUSTOMER ACQUISITION MARKET A GREAT PRODUCT

YOU CanT SUCCEED FOR LONG MARKETING

CUSTOMER ACQUISITION STOP MARKETING A BAD PRODUCT

SO IF Youre marketing A BAD PRODUCT

CUSTOMER ACQUISITION ONLY BUILD GREAT PRODUCTS

AND PUT YOUR FUNDS INTO BUILDING A

CUSTOMER ACQUISITION STORYTELLING AS MARKETING

THEN WHEN YOU HAVE A GREAT PRODUCT

Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly

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