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Blog About Log in Register Startup Killer: the Cost of Customer Acquisition In the many thousands of articles advising entrepreneurs on what they have to focus on to build successful startups, much has been written about three key factors: team, product and market, with particular focus on the importance of product/market fit.
The ten answers that I can guarantee you’re not going to get are of the businesses that those entrepreneurs are currently in. With the advent of the web and the multifaceted programming features of WordPress , many younger entrepreneurs have the ability to go into business for themselves very easily and very cheaply, but very haphazardly.
Join nearly 6,000 startup entrepreneurs by subscribing to my RSS feed. Im a serial web entrepreneur here to share what Ive learned in my 11 years as a self-funded startup founder. But I didn’t limit that comment to B2C software. Check out my book Subscribe via RSS Thousands of entrepreneurs cant be wrong.
Last week, in part one of the B2B versus B2C series, I explained there are several reasons as to why entrepreneurs should venture into “B2B” (“Business to Business”) service based companies as opposed to any form of “B2C” (“Business to Consumer”) company, “B2B” product-oriented company or strictly a web-based B2B firm.
This isn’t limited to the B2C space. Three out of every four B2B buyers would rather self-educate than learn about a product from a sales representative, according to Forrester. A big downside of the high-touch sales model is that the CAC is out of control, and the salescycles are extremely long. Image source ).
In my case (LucidEra -- a SaaS analytics provider focusing on sales, marketing, and financial analytics), weve found that success requires not only building some best practices for analytics into our solution, but also coming up with a repeatable and scalable way to show the customer how to use the analytics and how to interpret the results.
It’s not a surprise, given that entrepreneurs are obsessed with data and metrics, but in the conservative VC market of 2024, it feels even more important for founders to know what ‘good’ looks like and what investors expect. Metric Unremarkable Good Excellent Outlier ARR <$500k $500k-$1.5m $1.5m-$2.5m >$2.5m
I’ve seen online B2C startups use Dave McClure’s Startup Metrics for Pirates as a starting point for measuring what marketing is doing. of Opportunities – An opportunity is a lead that is now being actively managed by a sales person and is moving along the pipeline toward either a closed sale or a loss.
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