ConversionXL

FEBRUARY 3, 2022

The goal of market penetration is to leverage new tactics to increase product sales , including existing customers and new customers within existing markets. For example, in 2021 accounting software platform Bill.com acquired spend management tool Divvy in order to increase its market share. Acquisitions. Market penetration.

Marketing 115

Marketing Framework Metrics Channel 115

Startup Professionals Musings

MARCH 5, 2023

Bill was relentless in his focus on getting the software PC DOS project delivered, while continually challenging us with new business models. Managing marketing metrics and the sales pipeline. Follow-up is required for every sales lead, a pipeline built, and a sales process documented, with training for new reps.

Cofounder 389

Cofounder Startup Term Sheet Acquisition 389

YoungUpstarts

JANUARY 7, 2018

In light of this, software developers are beginning to cater to the digital transformation needs of SMBs. Owners no longer have to buy management software meant for big business. SMBs no longer have to choose between hiring an in-house data science team or off the shelf enterprise analytics software.

Artificial Inteligence 164

Artificial Inteligence Analytics SCRUM Cofounder 164

ConversionXL

OCTOBER 7, 2022

Customer acquisition cost (CAC) is an important metric for any ecommerce business. Put simply, you need a healthy customer acquisition cost for your business to succeed. It’s up to every ecommerce business to find the middle ground between investing too little in customer acquisition and spending beyond your means.

Acquisition 22

Acquisition eCommerce Cost Customer 22

YoungUpstarts

JUNE 10, 2015

But as the company grows, it’s important to make the transition from acquisition to retention. A continued focus on acquisition isn’t an optimal strategy from a financial standpoint due to the costs involved, and it can also negatively affect brand management since dissatisfied former customers can dampen sales.

Customer 100

Customer Startup Software Review Acquisition 100

Women Entrepreneurs Can

SEPTEMBER 18, 2020

You need to due your homework when chasing prospects through your sales funnel and focus your efforts on those most likely to convert and most likely to stay. Which brings us to… You’re Not Doing Enough to Boost Retention. Customer acquisition is certainly a priority. The post Is Your Business Like a Rusty Bucket?

Technical Review 52

Technical Review Software Review Retention Acquisition 52

Up and Running

NOVEMBER 6, 2020

There are common components in every business plan, but a SaaS (or subscription) business plan should have a special focus on customer acquisition (ie. Customer acquisition plan. Retention plan. If you’re Salesforce, you solve the problem of disorganized sales pipelines and poor customer communication. Yes, of course.

Business Plan 87

Business Plan Forecast Churn Rate Acquisition 87

SoCal CTO

MARCH 11, 2010

Instead, give me the details on how you’re going to make your sales, and to whom, on the first day, the first quarter, and the first year. I’ve talked before about initial conversations with founders and the questions I’m likely going to ask Startup Software Development – Do Your Homework Before You Develop Anything.

Metrics 159

Metrics Startup Retention Software Developers 159

ReadWriteStart

OCTOBER 2, 2023

I’ll start by taking you to the world of Startup X, a passionate team of entrepreneurs who believed they had the next big thing in the world of software as a service (SaaS). User experience The success of a SaaS software product largely depends on how well it meets the needs of its users.

Design 105

Design Product Churn Rate Architecture 105

Both Sides of the Table

DECEMBER 27, 2011

The most obvious way to explain this is with sales people. If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. “COGS” represents the amount that each sale costs you.

Startup 418

Startup Revenue Technical Review Flash 418

Startup Professionals Musings

JUNE 5, 2020

Bill was relentless in his focus on getting the software PC DOS project delivered, while continually challenging us with new business models. Managing marketing metrics and the sales pipeline. Follow-up is required for every sales lead, a pipeline built, and a sales process documented, with training for new reps.

Entrepreneur 307

Entrepreneur Cofounder Term Sheet Acquisition 307

Steve Blank

APRIL 1, 2020

Sales pipeline/forecast. I listened in on a board call with an enterprise software company this week, and when the CEO said, “Our VP of sales assured me our pipeline won’t be affected.” How can you shift focus to customer retention versus acquisition? Internal Assessment. Operating Numbers.

South Korea 333

South Korea Salary Business Model China 333

ConversionXL

SEPTEMBER 20, 2018

Three out of every four B2B buyers would rather self-educate than learn about a product from a sales representative, according to Forrester. Let me ask you two questions: Would you like to see and use a software product before buying it? Or would you prefer to go through a lengthy sales process to see if it’s a good fit?

Marketing 289

Marketing Sales Cycle Acquisition Sales 289

Steve Blank

FEBRUARY 26, 2020

For a Series A round you want to prove you have built a repeatable and scalable sales/revenue model and understand all parts of the business model. You need to begin to “instrument” your customer acquisition process with analytics. Retention and low attrition are good signs of customer validation. 2M in 18 months.

Cofounder 429

Cofounder Seed Stage Valuation Metrics 429

Austin Startup

MARCH 26, 2019

25 questions that DTC entrepreneurs should ask themselves before scaling customer acquisition So you run a direct-to-consumer (DTC) brand. You just spent a few thousand dollars on advertising and your paid customer acquisition cost (CAC) numbers tested well relative to your best guess for customer lifetime value (LTV).

Technical Review 49

Technical Review Software Review China Acquisition 49

Steve Blank

APRIL 20, 2021

In other words, you prove retention. With both growth and retention, you earn the right to build more. In the Roku case study we’ve chosen three execution branches: (1) delivery platforms, (2) sales channels, and (3) chip platforms. You can think of these hardware form factors as software delivery vehicles.

Product 436

Product Viral Channel San Francisco 436

Version One Ventures

MAY 17, 2022

In years past, the B2B customer experience and buying process were owned by sales. If you wanted to buy new software, you talked with a salesperson. And thus we’ve seen the rise of product-led companies…companies that rely on the product itself to drive user acquisition, activation and retention. .

B2B 107

B2B Product Stealth Marketing 107

Hearpreneur

JANUARY 19, 2022

After having to reduce and rethink our strategy during COVID, we observed that our community and sales have skyrocketed. Especially during challenging times, retention is significantly more crucial than acquisition. To prepare for this we invested in Virtual Tour cameras and software and packaged it with our other services.

Entrepreneur 119

Entrepreneur Metrics Technical Review North America 119

YoungUpstarts

DECEMBER 5, 2013

What was still missing was a simple way to identify a customer at the point of sale. Local businesses in Singapore report up to 5x increase in repeat business , up to 7x increase in fan acquisition rates and 10x increase in word of mouth. I expect that sales would be dramatically lower if not for our Fan Club.”.

Programming 150

Programming Turkey Social Media Redemption 150

ConversionXL

APRIL 4, 2017

Paid Acquisition. You’re undoubtedly familiar with paid acquisition, as it’s the digital equivalent of traditional advertising. Here are some resources to learn more about paid acquisition: Customer Acquisition Master Course (includes SEO). When Does Paid Acquisition Work for SaaS Startups?

Channel 118

Channel Marketing Viral SEO 118

Up and Running

SEPTEMBER 22, 2021

If not, now is the perfect time to get in on this effective and easy-to-implement user acquisition channel. Referral marketing is a user acquisition channel that allows you to leverage your existing user base for growth by incentivizing them with rewards. Like any other user acquisition channel, your efforts need to be cost-efficient.

Programming 141

Programming Churn Rate Design Campaign 141

Hearpreneur

DECEMBER 15, 2017

#7- To prioritizes employee and client retention. The company that employed us began putting profits above people and new sales above client retention. The three of us had the exact opposite mentality and created a company that prioritizes employee and client retention. Photo Credit: Steven Randall. 10-Passion.

Entrepreneur 115

Entrepreneur Czech Republic Retention B2C 115

The Next Web

MAY 26, 2013

When it comes to pitching investors on something like software, the presentation is often more pivotal than the product itself. I recently asked a panel of nine successful young entrepreneurs the following question: What’s one CRITICAL, must-include item or data point for a software startup pitching an investor for the first time?

Software 151

Software Forecast Startup Exit Strategy 151

A Smart Bear: Startups and Marketing for Geeks

JULY 23, 2013

of revenue, force-feeding sales pipelines with an unprofitable product. I know the argument: The pay-back period on sales, marketing, and up-start costs is long, but there’s a profitable result at the end of the tunnel. Marketing, sales, legal, account management, on-boarding, technical guidance, training.

Business Model 335

Business Model .Net Revenue IPO 335

David Teten

DECEMBER 16, 2015

For early stage companies, the metrics that matter might typically center around activation, engagement and retention. Customer Acquisition Cost (CAC). Sales Pipeline. Conversion to Sales %. From there, if there are issues, the team digs into the root cause: is the sales team just not booking enough sales?

Metrics 60

Metrics Analytics Balance Sheet .Net 60

ConversionXL

AUGUST 23, 2017

Their customer journey maps the following path from Discovery to Sales, and Retention. If this is met, then the customer proceeds to the Retention phase, where they want to see return on investment. Social is the main acquisition channel for the site, so the inflection points of the customer journey often start here.

Customer 130

Customer Channel Design Retention 130

ConversionXL

SEPTEMBER 20, 2021

Given that most users abandon apps within 30 days post-installation, high downloads don’t lead to high audience retention, satisfaction, or revenue. Of course, a video with low ROI can still generate awareness, expand impact, and lead to sales. You don’t need additional software or expensive tools to conduct a competitor analysis.

Analytics 134

Analytics Metrics Channel Video 134

ConversionXL

FEBRUARY 3, 2022

When WordStream began receiving complaints that the seven-day free trial of their PPC management software wasn’t long enough, the brand decided to A/B test 14-day and 30-day trials. They work to improve top-of-funnel metrics like brand awareness and identify opportunities to improve customer activation, retention, and referral efforts.

Framework 102

Framework Marketing Acquisition Retention 102

YoungUpstarts

NOVEMBER 8, 2017

For instance, businesses can start by trimming overheads and boost sales to existing customers through cross sell and upsell opportunities. Cloud-based software, with its scalability, agility and low total cost of ownership, empowers businesses to manage growth on their own terms. Forge strong partnerships.

Cloud 165

Cloud Small Business Singapore Malaysia 165

YoungUpstarts

OCTOBER 25, 2017

The word ‘techpreneur’ hadn’t made its way into the course of everyday conversation then, but that was exactly what I was – with solid technical experience in the software industry, but with little idea of how to even begin starting and growing my very own business. Acknowledge Failure.

Illinois 124

Illinois Startup Software Retention 124

Duct Tape Marketing

OCTOBER 17, 2018

I actually did a study on this a few years ago, and I looked at 351 B2B companies with 50 to 1000 employees, and there was a huge difference between the software companies and the non software companies. They have a website, they probably have a sales team, is that kind of where it ends? John Jantsch: Yeah.

Marketing 56

Marketing Social Media Analytics Software 56

Mucker Lab

APRIL 6, 2023

Today, a lot of the PLG SaaS tools require sales motion upfront because nobody understands those tools. Those types of tools actually require work in the initial days of the sales motion. The success of the foundation is can you get to the first PLG conversion and actually have a user or prospective customer without talking to sales?

Product 78

Product CTO Hire Startup Fractional CTO 78

ReadWriteStart

AUGUST 26, 2022

He focuses on investments in fintech, the internet, and software. The startup didn’t work out, but I found ways to be around it, whether it was on the sales side in Goldman for a few years. The beauty of software, in general, is that you have this concept of MVP. The theme of this episode is how to scale unicorns.

Partner 132

Partner Cofounder Retention Acquisition 132

ConversionXL

NOVEMBER 22, 2022

Click-Through Rate Definition The Conversion Rate Formula: How to Calculate Conversion Rate Bounce Rate: Everything You Want to Know and More How To Calculate and Increase Customer Lifetime Value PPC Click-Through-Rate: What it Means and How to Use It (and Improve It) How to Track and Improve Ecommerce Customer Acquisition Effectiveness.

Metrics 105

Metrics Analytics Marketing Acquisition 105

Startup Professionals Musings

MAY 15, 2016

Bill was relentless in his focus on getting the software PC DOS project delivered, while continually challenging us with new business models. Managing marketing metrics and the sales pipeline. Follow-up is required for every sales lead, a pipeline built, and a sales process documented, with training for new reps.

Cofounder 120

Cofounder Term Sheet Acquisition Metrics 120

Both Sides of the Table

JUNE 17, 2017

The most obvious way to explain this is with sales people. If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months. COGS” represents the amount that each sale costs you. Not necessarily.

Stock Options 227

Stock Options Startup Dilution Venture Capital 227

Duct Tape Marketing

AUGUST 23, 2023

Lloyed explores the intricate art of harnessing the community’s strength as your ultimate acquisition channe l, brand differentiator, feedback source, retention lever, and catalyst for transformative change. They said sales and marketing. My first job, I wanted to go into entrepreneurship. 19:23): And guess what?

Community 54

Community Kuwait Cofounder Bootstrapping 54