Managing metrics in your customer acquisition funnel
For a startup CEO that’s hacked through the bushes of idea validation, MVP-building and product-market-fit, one of the next big challenges is naturally how to measure success in customer acquisition. At a first glance, this is pretty straightforward. Count the number of customers or revenue every week, put them in a deck to show your board, crack open a beer and you're done! However, the traction chart doesn’t go upwards to the right on its own. Therefore, the key to building a reliable customer acquisition machine is understanding all of the steps that come before the deal is closed - from the first time that the customer interacts with you all the way through to the point at which they become a customer -- the journey. This is what allows a growing company to identify where user acquisition bottlenecks exist, refine their go-to-market model, and understand what factors lead to strong performance. At this stage, you should be quite familiar with the concept of a customer acquisit...