Week11 steps1819
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The document discusses the Cost of Customer Acquisition (CoCA) metric which measures the expenses associated with acquiring new customers such as salaries, marketing costs, online advertising, social media, and SEO. It recommends defining a marketing plan, budgeting for marketing and sales, calculating the CoCA, revising CoCA and customer lifetime value calculations, reviewing whether changes should be made to the business model, and revising the business model and creating a cash flow statement within the next week.
Week11 steps1819
- 1. Cost of Customer Acquisition (CoCA) The most important metric together with LTV
- 2. Photo by Procsilas Moscas (CC BY 2.0)
- 3. Photo by Procsilas Moscas (CC BY 2.0)
- 4. • Salaries of salespeople (even if it’s you!). • Above-the-line marketing. • Online marketing costs (SEM). • Social Media. • SEO.
- 5. Startup Metrics for Pirates Acquisition Activation Retention Referral Revenue Photo by Joriel Jimenez (CC BY-NC-ND 2,0)
- 7. Focus here!
- 8. Remember
- 9. Your work • Define your marketing plan. • Make a marketing and sales budget. • Calculate CoCA. • Revise CoCA calculations. • Revise customer LTV calculations. • Should you do any changes in your BM? • Anyway, revise your BM by next week. • Start working on a Cash-Flow statement (3 years, 1st year monthly)