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Stage 3: Preparing to GrowLesson 2: Acquiring Customers; Keeping Customers Happy

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By the end of this lesson you should be able to:

• (Review of Assignment) Define the elements of a successful brand, which are (based on CREATING A BRAND template):– Brand pyramid: vision, values, attributes (work on

in class), – Communications framework: tagline, stories and

key messages (post-lesson assignment).• Apply key principals of Word of Mouth strategy and

Growth Hacking metrics to your business

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By the end of this lesson you should be able to:

• Understand the Get, Keep and Grow Funnel• Create a Marketing Plan and Sales Strategy to

Get Customers• Begin to Managing Customer Relationships to

Keep and Grow Customer• Calculating the Cost of Getting a New

Customer (LTV and CAC)

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Review of Assignment• Marketing “bowtie” template• Founding Story

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Word of Mouth Marketing Strategies

1. Target Influencers2. Building a close knit community3. Be a thought leader4. Be honest5. Growth Hacking …

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Growth Hacking• What might work for you?• “Pirate” metrics

• Acquisition• Activation• Retention• Referral• Revenue

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Acquiring Customers; Keeping Them Happy

• Get: Growth hacking awareness and acquisition tactics while reducing customer acquisition costs.

• Keep: Reduce attrition and retain customers via loyalty programs, product updates and quality service.

• Grow: Increase customer lifetime value by upselling, next-selling and cross-selling.

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Is Your Business Model Viable / Sustainable?

• GKG hypotheses • Metrics• Cost to Acquire Customers (CAC)• Lifetime Value of a Customer: Ability to monetize

those customers

What has worked for you as a customer? What would work for your business?

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Get, keep, and grow customers on the web.

https://suggest-keywords.comBlank, Steve: THE STARTUP OWNER’S MANUAL, 2012

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Blank, Steve: THE STARTUP OWNER’S MANUAL, 2012

Get, keep, and grow customers – physical channels

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Summary• The importance of product – market

fit.• GKG• CAC• LTV

• Feature set for MVP• Validated learning• Pivots

Problem worth solving? Built something people want? How accelerate growth?

Ideal time to raise funding Concept Source: Blank Four Stages

to the Epiphany; Maurya, Running LeanImage Source: Startitup

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Summary• GKG• CAC• LTV

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For next class• Read & review lesson 2 content• Fine tune any class work – bring in

questions• Read article on Elevator Pitches

(BCLS webguide)

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