This video was taken during CLVboost’s recent presentation at the Microsoft New England Research and Development center in Cambridge, MA. [video_player type=”youtube” width=”640″ height=”360″ align=”center” margin_top=”10″ margin_bottom=”20″ border_size=”4″ border_color=”#DDDDDD”]aHR0cHM6Ly93d3cueW91dHViZS5jb20vd2F0Y2g/dj01QWZaYkxsQXdmTQ==[/video_player] Any startup can successfully use the marketing automation, email and database marketing ideas I shared earlier this week when I had the pleasure of being a featured speaker at the Boston Growth Hackers – Spring Showcase Event at the Microsoft NERD Center in Cambridge. To this audience of entrepreneurs and students, I posed the same three questions I pose to every new business I work with:
- What are the CORE lead sources for your business?
- What is your customer lifetime value (CLV) by lead source?
- What is the ideal track of customer activity to maximize CLV?
- Not all leads are created equal. Startups should parse them into in to one of two major categories:
- Contextual Parsing – “I know what you want because you’re there in the first place.”
- Selected Parsing – “I know what you want because you tell me.”
- What are the handful of categories your prospects fit into? In this case, less is more, so four to six prospect categories is about the max you should work with, and
- Since each category of prospect is unique, a cookie cutter approach won’t workt. Each category will respond to a different buy button, so tailor the content, landing pages and emails if you really want to crank up your open rates, responses and sales.