S blog • How I increased conversion on my checkout form by 60% User Onboarding | A frequently-updated compendium of web app first-run experiences. Social Media isn’t the point. Storytelling is. — Content Strategy. How do I build an audience, or engage with customers online? As a strategic storyteller and digital consultant, I get asked this question in some form on nearly a weekly basis.
Usually, the brand or product already exists in some form (anywhere on the spectrum between an established brand that needs to be reenergized, to a product on the verge of launch) and the business owner or entrepreneur wants answers. Urgently. Just as often, and just as urgently, they tack “using social media” onto their query. For example, I just received this email from a new business owner: “I’m interested in how social media marketing can be leveraged with other types of online and more traditional marketing.
No need to tell me just to use LinkedIn, Facebook and Twitter. I’ve worked with many types of clients from solopreneurs to marketing leaders for multi-national corporations who are just as adamantly convinced they need to “do social media” without ever stopping to question why. I get it. Take Buffer. 1. 2. (2) What is the average customer acquisition cost for a SaaS company. Startup Killer: the Cost of Customer Acquisition. Customer Lifetime Value Detailed AnalysisCloud Strategies - Making SaaS Businesses Work. Customer Lifetime Value or CLV (aka CLTV or LTV) is an essential SaaS metric for quantifying the present predicted value of a revenue stream from a customer.
Understanding the Customer Lifetime Value is crucial for understanding how much is prudent to spending on customer acquisition. It is a method of determining the value of the business based on the unit economics of increasing the customer base. It also dramatically shows the cost of churn and can justify additional resources spent to decrease churn by showing the impact on customer value. The sum of the Customer Lifetime Value of all the company’s customers is the “Customer Equity” – an important measure of the company’s value.
The Customer Lifetime Value metric also provides a method of comparing the economics of the traditional licensed software model (with high initial revenue) against the SaaS subscription revenue stream. The Customer Lifetime (the average theoretic life of a customer) is: The WACC rates used vary substantially.