If you haven't received your copy of a sample Online Marketing Simulation worksheet and wish to follow along on these examples, go ahead and send me an e-mail message and I'll forward you a copy.
In our example, we estimated that this business needs a 17% increase in customer retention, in order for the business to improve.
What about customer acquisition?
In the spreadsheet, change cells C6 - G6 from a value of 1.00 to a value of 1.70.
Notice that the business stabilizes when customer acquisition activities drive a 70% increase in new customers.
This doesn't even seem feasible, does it? I mean, how the heck would you improve customer acquisition activities by 70%?
In upcoming posts, we'll explore how to investigate which customer acquisition segments can contribute high-value customers. We'll introduce the concept of the "MVP", the "Most Valuable Path" that a customer follows from new customer to great customer. We'll better understand what drives this business, and what holds back this business. You'll be able to take the concepts and apply them to your business.
NaviStone was birthed by Cohere One (Cohere One is now owned by Midland Paper and integrates solutions with NaviStone ). A new privacy-base...
Look at the first four rows of our life table (values of 0/1/2/3). These are the first 12-15 weeks after a customer buys for the firs...
We spent the past two weeks talking about the events and influences that shaped what I call "The Great Eight". My Influence...
If you don't like geeky math, please skip this post, because I am about to show you how the sausage is made! I have eight variables in...