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In this post I’ll focus on benchmarking resources for seed and series A in the following three categories: SaaS B2C / Consumer apps Deep tech. The main B2C benchmarks have to do with traction: growth in user acquisition, user retention/churn, monetisation, as well as the effectiveness of consumer marketing + virality.
As Neal Schaffer points out: “…Companies still look at social media as a promotional and advertising channel rather than as a grand arena to collaborate with social media users, primarily customers and influencers, and work them through a relationship funnel to incite word of mouth marketing for your brand in social media.”
However, with every new technology, channel, and distraction served up by the internet, that journey becomes less linear, and the traditional funnel becomes less relevant. Social media, on the other hand, are browsing channels. Conversion rate per channel. Measure the success of the channel (e.g., Image source.
Traffic by channel: Find out where your visitors come from Where to track traffic by channel 3. Customer Lifetime Value: Learn how to increase retention Where to track customer lifetime value Conclusion. Traffic by channel: Find out where your visitors come from. Here are different channels to track and what they mean: 1.
If you don’t know this stuff, you’re missing a whole world of sales insight that could direct your customer acquisition and retention strategies. 4) Your Multi-Channel Sales Approach. A multi-channel approach has always been used in sales. Except that 20 years ago, we just had a whole lot less channels. 5) Outbound Sales.
By meeting buyers’ post-purchase needs , you’ll improve customer retention. There are several ways to calculate it, but here’s a basic formula: Average order value x Number of repeat transactions x Average retention time. To get a realistic picture of how your business is doing, you need to also account for customer retention.
These companies are all over the map: B2B, B2C, SaaS, ecommerce, healthcare, SMB-focused, enterprise-focused, etc. Referrals (generating direct customer referrals and new revenue channels with fellow local business owners). What customer retention strategies are working best for other florists?
Questions such as: What marketing channels are driving the best users (i.e. If a user is able to do all of this through digital channels, then product analytics can really help you. Actively experimenting with different marketing channels. This means looking at marketing channels and what users did before signing up.
Questions such as: What marketing channels are driving the best users (i.e. If a user is able to do all of this through digital channels, then product analytics can really help you. Actively experimenting with different marketing channels. This means looking at marketing channels and what users did before signing up.
Email generates as much as $42 for every dollar spent , and is a top-three marketing channel for 87% of B2B and 76% of B2C marketers. Children’s education company Talu Tales uses its social channels to do just that—in this case, promoting free activity sheets: . Customer journeys are rarely linear.
Questions such as: What marketing channels are driving the best users (i.e. Perhaps your onboarding funnel has a poor conversion rate or your user retention is too low. This means looking at marketing channels and what users did before signing up. Cohort Analysis lets us see the retention for any group of users (i.e.
.” Rahul Vohra, founder of Superhuman Getting your first 1,000 users is an important early milestone for any B2C startup. What are the most effective strategies for early B2C growth? This post is about how to get to your first 1,000 users, and how to get to know your users better, in particular for B2C startups.
That this is actually how it starts as opposed to it being a bolt-on channel – could you talk more about this idea? [14:26] That that actually being the way that it starts as opposed to a bolt on channel. 14:26] Why do you call this book the last great marketing strategy? [16:32] Mark Schaefer (12:18): Yeah. So let's start community.
In their own words, it’s: “B2C and B2B marketing that optimizes value to the buyer at any stage of the customer life cycle, dramatically increasing the propensity of that customer to purchase. This concept, according to Extraprise , is seen as real time revenue optimization.
As a VC that invests in B2C, I often try to put myself in shoes of a founder looking to grow the audience for their new app to consumers. What are the main channels for app marketing and distribution today? App discovery today: Word of mouth – family and friends remain the #1 channel for new app discovery.
In their own words, it’s: “B2C and B2B marketing that optimizes value to the buyer at any stage of the customer life cycle, dramatically increasing the propensity of that customer to purchase. This concept, according to Extraprise , is seen as real time revenue optimization.
Net Revenue Retention (NRR) Definition: NRR measures the percentage of recurring revenue retained from existing customers over a given period, considering upgrades, downgrades, and churn. Multiple User Acquisition Channels : PLG companies use a wider mix of social channels, with 41% leveraging Instagram.
The list of industries where the marketshare leader still haven’t learned how to use software to accelerate their customer acquisition, improve their customer retention, increase their customer satisfaction, lower their manufacturing cost, shorten their supply chain etc, etc is long and impressive. E-commerce is the canary in the coal mine.
This isn’t limited to the B2C space. Just take a look at these three channels: Facebook : 171% Increase in Cost per Thousand Impressions, or CPM ( 2017 ). There are other channels, of course, but these numbers give us a hint that, well, marketing isn’t getting any cheaper. customer acquisition process and channels).
When consultants, designers, and developers do this, they may be thinking that it’s in the best interest of the relationship, but it often does more harm than good and results in lower retention rates and fewer referrals. The only real way to deal with this problem is to be upfront about it.
To begin with, let’s illustrate the sales process with a simple graphic of the funnel that comes from an excellent post on Stratechery about marketing channels. In a B2C context, you definitely want to give the chat option to customers who got something in their cart but have yet to complete the purchase. Online chat.
I’ve seen online B2C startups use Dave McClure’s Startup Metrics for Pirates as a starting point for measuring what marketing is doing. One other basic metric I’d add is “Cost per channel&# (web, print, tradeshow, etc…) and tie in how many each channel is generating, so you get a ROI by channel as well.
#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.
The second relies on retention. Overall acquisition costs for both B2C and B2B have gone up by 50% in the past five years. We had a client selling personalized jewelry who discovered through a retention analysis that 40% of his products didn’t drive any repeat purchases. The second type is winning. By first product bought.
It does not matter if you are a B2B or B2C or A2K, you will always see this. Here's an example of their tracking in-app purchases… Their User Retention report is well worth taking a look at. controlled experiments) in the reality check section of my detailed post on multi-channel attribution modeling.
It also has massively delicious implications in your data, acquisition and retention strategies (ignoring the sweet, heavenly, implications on your customers). In my definition, this is also online to offline, offline to online or whatever the heck to whatever the heck. It is very hard to do, you have to solve so many tough problems.
Yet, according to another study , only 11% of B2B companies have ongoing influencer marketing programs, compared to 48% of B2C brands. Pick your brand channel that has the most engaged community (i.e. Support influencers on your social media channels. B2B brands shouldn’t feel left out, even if they lag behind. Closed groups.
Customer loyalty is sometimes confused with customer satisfaction, as well as retention. Retention is the behavioral indicator of loyalty, whereas loyalty is usually attitudinal (though technically retention could be considered behavioral loyalty). We can say the same thing for B2C products, for example, HeadSpace.
Customer loyalty is sometimes confused with customer satisfaction, as well as retention. Retention is the behavioral indicator of loyalty, whereas loyalty is usually attitudinal (though technically retention could be considered behavioral loyalty). We can say the same thing for B2C products, for example, HeadSpace.
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