llp@tecnico - class 5 - channels

LLP@Tecnico���Class 5

Luis Caldas de Oliveira

Agenda for Class 5

• Q&A about Channel

•  Team Presentations: Channel Findings

•  Summary about Customer Relationships

• Work for Next Week

Q&A CHANNEL

LLP Roller Coaster

Common Errors on Channel Findings

•  Ignore the impact of a channel on its revenue stream

•  The more complex the channel, the smaller the margins will be

•  Ignore costs to acquire, service and support a channel

•  Assume that all startups use direct channels on day one.

Physical Distribution Channels

Web/Mobile Distribution Channels

TEAM PRESENTATIONS: CHANNEL

CUSTOMER RELATIONSHIPS

Customer Relationships Strategy

•  “Get Customers”: Awareness, Interest, Consideration, Purchase

•  “Keep Customers”: Interact, Retain

•  “Grow Customers”: New Revenue, Referrals

Customer Relationships

Get Customers (Physical)

Customer Relationships Tactics

•  “Get Customers”: Earned Media (pr, blogs, etc), Paid Media (ads, promotion), Online Tools

•  “Keep Customers”: Loyalty programs, customer surveys, check-in calls

•  “Grow Customers”: Up-sell, cross-sell, next-sell, unbundling

Key Concepts

•  CAC: Costumer Acquisition Cost

•  Churn: costume attrition

•  LTV: costumer Life Time Value

Objective Pass/Fail Metrics

•  Get 5 product reviews in blog (€1000): 50 inquiries

•  1000 flyers (€100): 10 inquiries

•  Ad in magazine (€500): 10 sales

•  Google AsWords (€500): 5 sales

Sales = 15 + 10% of 60 = 21 CAC=€100

NEXT WEEK

Presentation for Next Week •  Slide 1: Cover slide

•  Slide 2: Business Model Canvas (changes marked in red, different colors for multi-sided markets)

•  Slide 3: Objective pass/fail metrics for each “Get” tactic

•  Slide 4; What is your customer acquisition cost?

•  Slide 5: What is your customer lifetime value?

•  Slide 6: Build demand creation budget and forecast

•  Slide 7: Get/Keep/Grow diagram and annotate it with key metrics

Before Next Class •  Talk to 10 customers and channel partners

•  Update LPC Narrative and Canvas

• Work on your MVP: site or wireframe (web/mobile), prototype, model, crowdfunding (physical product)

•  Prepare Class Presentation

• Watch Lecture 6: Revenue Models

Obrigado