- Today I am looking at how you capture in your business plan what your strategies are for acquiring and retaining customers. This is an important part of your story and essential if you want to get people interested in your business.
The same rules apply if your selling to consumers or to businesses.
- Identify who your customers are
- In terms of demographics and behaviour
- How much do they spend on average?
- How do you acquire new customers?
- Articulate your strategies and what sales channels you use
- Define who is a new client – first ever purchase?
- How much do you budget for customer acquisition?
- How do you get them to come back for more?
- What strategies do you use – how do you reward loyalty?
- Do you measure CLV – if so share data?
- What protects you from the competition?
- If some of your strategies are untested be clear and communicate that. Your credibility will be affected if you can’t prove your proposition.
Tip: Use data to validate your story. Try and measure behaviour of
customers by time cohort; ie: customers who first bought in the last month,
previous month etc..