article thumbnail

Customer Trust Is An Opportunity With A Huge Payback

Startup Professionals Musings

With the ITRC 2021 End-of-Year Data Breach Report revealing a 68 percent increase in stolen sensitive personal information, there is a growing population out there worried about all the people intent on hurting them. A few years earlier, Marriott account information was hacked, and some feel it hasn’t fully recovered since.

article thumbnail

Best practices for customer verification

The Startup Magazine

The internet is a great tool for business, transforming how companies interact with their customers and providing new channels to sell products, provide services, and make money. With that in mind, if you’re running an online business, you need to consider implementing customer verification best practices.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

7 Key Factors Obscure Your Customer Acquisition Costs

Startup Professionals Musings

As a business consultant and angel investor, I often ask for your own assessment of marketing ROI , or customer acquisition cost (CAC). I paraphrase here the key challenges he identifies, adding my own insights: Marketing ROI requires cross-enterprise information. Are you making the proper investment, and is it paying off?

article thumbnail

Metrics to Monitor in Customer Journey Analysis

The Startup Magazine

In the modern business landscape, understanding the customer’s journey through various touchpoints of your business is crucial for enhancing their experience and, consequently, your success. Metrics play a significant role in customer journey analysis, providing quantifiable data that can be analyzed to glean valuable insights.

Metrics 134
article thumbnail

How To Survive The Loss Of A Main Customer

YoungUpstarts

In the early stages, it isn’t uncommon for businesses to bank their earnings on a handful of customers (or sometimes, just one). This is especially true for startups, which operate on the basis of customer traction to solidify expectations with investors or lending institutions. Losing a major customer will inevitably impact cash flow.

Customer 347
article thumbnail

The evolution of Information Technology towards hyper-convergence

The Startup Magazine

Modern businesses rely heavily on this positive cyclical and iterative disruption to be competitive in the marketplace and innovate, delivering new services and products to their customers faster than ever. It combines control, flexibility, security, scalability, and profitability, satisfying both companies’ and customers’ needs.

article thumbnail

5 Keys to Ensuring Credibility, Trust, and Customers

Startup Professionals Musings

As a long-time business executive and adviser to entrepreneurs, I see a definitive shift away from customer trust in traditional business messages, and the executives who deliver them. I summarize the key elements of the transformation as follows: Customers are seeking control in a run-away world.

Customer 433