How To Web Valentin Radu - Lessons Learned in Getting Our Ideal Customers & Keeping Them
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The document describes the journey of a founder in improving their business. It begins with the founder hiring more salespeople in an attempt to grow the business. This proves to be unsuccessful, as they were not targeting the right customers. The founder then undertakes an analysis of customer segmentation and identifies an ideal customer profile. With a focus on this ideal profile, the business is able to improve customer retention and year-over-year growth. The founder learns that persistence can be counterproductive if heading in the wrong direction, and that understanding customers is key to success.
![Persistence can be a trap
[if you insist in the wrong
direction]
Know your ICP inside out
Photo by Miguel Á. Padriñán from Pexels](https://image.slidesharecdn.com/htw2019valentinraduomniconvert-191105053249/85/How-To-Web-Valentin-Radu-Lessons-Learned-in-Getting-Our-Ideal-Customers-Keeping-Them-20-320.jpg)
![Photo by Miguel Á. Padriñán from Pexels
Persistence can be a trap
[if you insist in the wrong
direction]
Know your ICP inside out](https://image.slidesharecdn.com/htw2019valentinraduomniconvert-191105053249/85/How-To-Web-Valentin-Radu-Lessons-Learned-in-Getting-Our-Ideal-Customers-Keeping-Them-40-320.jpg)
How To Web Valentin Radu - Lessons Learned in Getting Our Ideal Customers & Keeping Them
- 1. Photo by rawpixel on Unsplash Lessons Learned in Getting our Ideal Customers & Keeping Them
- 3. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 The mortality rate among women in the section of the maternity ward where Semmelweis practiced was 1 in 10.
- 4. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 A second section of the maternity ward had a mortality rate of 1 in 50, much better than the rate in Semmelweis’ section.
- 5. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 During a four-month leave to another hospital, something intriguing happened. The mortality rate in his section had fallen significantly
- 6. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 Semmelweis started to investigate the research done by the doctors on cadavers.
- 7. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 This was the origin of germ theory. “Particles’ from cadavers and other diseased patients were being transmitted to healthy patients on the hands of the physicians.”
- 8. “I think there is a world market for maybe 5 computers.” Thomas Watson, chairman of IBM, 1943 As a result, a policy was instituted that required doctors to wash their hands thoroughly. The death rate immediately plummeted to 1 in 100
- 9. Photo by Miguel Á. Padriñán from Pexels As a founder... You’re ALWAYS the problem
- 10. I am Valentin. AND I’VE MADE A LOT OF TERRIBLE MISTAKES.
- 11. I am Valentin. MY ONLY MERIT? I HAVEN’T STOPPED
- 12. Honoured to help companies all over the planet convert more
- 13. For lesson 2, let’s do a quick test. Together.
- 14. Photo by Elijah O'Donnell on Unsplash HOW MANY RED SQUARES? COUNT THE NUMBER OF RED SQUARES
- 15. Photo by Elijah O'Donnell on Unsplash HOW MANY WERE ORANGE?
- 16. Not converting enough trials into customers? > Develop new features. You don’t know why you’re not growing? > Develop new features. Customer acquisition cost is too high? > Develop new features. Customers are churning too fast? > Develop new features.
- 17. Not converting enough trials into customers? > Identify your ideal customer profile You don’t know why you’re not growing? > Do a deep dive into your funnel from top to bottom Time to close a customer is too high? > Test, find out new channels, do pricing tweaks Customers are churning too fast? > Find out what kind of needs yout cover with your product, what would make them successful and what they perceive as value.
- 18. If all you have is a hammer
- 19. Everything looks like a nail
- 20. Persistence can be a trap [if you insist in the wrong direction] Know your ICP inside out Photo by Miguel Á. Padriñán from Pexels
- 21. 2016, Feb 1M euro in funding. Let’s hire more sales. Let’s make this happen!
- 22. 2016, July Ping pong championship 6 AEs: 8 calls per day. This is wrong
- 23. 2016, Nov We’re bleeding money. We have to stop.
- 24. Photo by Miguel Á. Padriñán from Pexels More sales people doesn’t necessarily mean more sales. Scale only AFTER you nail Channel Market Fit.
- 25. Chur was our Real proble 18.9% 2016
- 26. Customer segmentation by location
- 27. Customer Segmentation by Company Type
- 28. Customer Segmentation by Company Size
- 29. Customer Segmentation by Subscription Period
- 30. Customer Segmentation by Level of assistance
- 31. Customer Segmentation by Acquisition channel
- 32. Customer Segmentation by Features they are using
- 33. Ta-Da!
- 34. 1 ICP generates margin as much as 76 average customers. It’s not smart fair to treat everyone the same. It’s not fair
- 35. Our ICP From US & Europe Should be assisted by our data-driven team Acquisition channels: inbound & Linkedin Outreach It’s a “phygital” player With >200 employees That has a budget for optimization And pays annual. Photo by Simon Connellan on Unsplash
- 36. Knowledge Hel s Retentio 3 years after, our revenue churn is at 2.7% (-89%) 2019
- 37. What do we do? Software as a Service Success meant: - Platform adoption - Number of users - Revenue 2013
- 38. 2016 What do we do? Software as a Service Success meant: - Ideal Customer Profile - Customer Retention - YoY Growth
- 39. 2019 What do we do? Service as a Software Success means Employee happiness Attracting talent ICP Satisfaction Enjoying the ride. Together. 2019 ● Web Optimization Strategy ● UI/UX Design & Research ● Data Analytics ● Front-end Development & QA ● Advanced Segmentation ● A/B Testing ● Web Personalization ● On-site surveys ● Customer Intelligence Platform ● Customer Segmentation ● Customer Experience Monitoring ● Data-driven insights ● Machine Learning Optimization ● Overlays based on Cognitive Biases ● ML Automated Segmentation ● Automated Revenue Optimization Software Managed services
- 40. Photo by Miguel Á. Padriñán from Pexels Persistence can be a trap [if you insist in the wrong direction] Know your ICP inside out
- 42. If you don’t genuinely care about your team, you’re missing the whole game.