customer acquisition - startup extreme norway

Angela LeeFounder (37 Angels)Assistant Dean (Columbia Business School)

Customer Acquisition

Startup Extreme Norway

37 Angels LLC – All Rights Reserved 2

What we’ll cover today

How to acquire customers?

What does it mean to know your customer?


Who is their customer?


Who is your customer?

Demographic

Gender Age Income Location

Psychographic

Personality Interests Values Lifestyle

Use case

Pain point Problem solved Value added Way to approach



All hotels in [city] are booked

I want a cheaper option than hotels

I want to experience home away from home

I want a more personal, unique travel experience


What we’ll cover today

How to acquire customers?

What does it mean to know your customer?


How are you acquiring customers?

We’ve done no

marketing!

We only need to

capture 1% of the

market….


How are you acquiring customers?

Channel ChannelChannel

ChannelChannel

Unaware target market

Prospects

Leads

Customers


Example 1: B2C


Example 1: B2C

100 parents walk by in 1 hour

20 give email address

10 open email

3

Customers

Response rate highest with x

message at this time of day / yr

Campus ambassador = $60/hr

Cost to acquire customer = $20

Customer value = $100

Campus

Tabling

Direct

MailSEO

Influencer

MarketingEmail


Example 2: B2B

50 cold calls a month

10 meetings with leads

4 meetings with

purchaser

1 Client

Identified decision maker and

path to them / purchase

Salesperson salary = $10K/mo

Cost to acquire client = $10K

Client value = $30K

Retention rate in year 2 = ?

Team knows timing to close a

customer (SMB / enterprise)

Cold

Calling

Direct

MailSEO

Trade

shows

Referral

Partners


TractionBook.com

1) Viral Marketing

2) Public Relations (PR)

3) Unconventional PR

4) Search Engine Marketing

5) Social and Display Ads

6) Offline Ads

7) Search Engine Opt.

8) Content Marketing

9) Email Marketing

10) Engineering as Marketing

11) Target Market Blogs

12) Business Development

13) Sales

14) Affiliate Programs

15) Existing Platforms

16) Trade Shows

17) Offline Events

18) Speaking Engagements

19) Community Building


37angels.com/resources


Additional resources

• 10 Slides Investors Want (Slideshare AngelaWLee)• 16 Startup Metrics (Andressen Horowitz)

• Lean Startup by Eric Reis• Traction by Gabriel Weinberg

http://www.slideshare.net/angelawlee/37-angels-10-slide-pitch-deck

http://a16z.com/2015/08/21/16-metrics/


Thank You

@37AngelsNY@angelawlee