The Challenge of Scaling Up
As a scaleup, you’ve already validated your business model. Money is coming in and you have a good grasp of your customer’s needs and how to serve them.
But now your investors, partners and yourself want to scale this thing up. That requires more sophistication than that hands-on approach you’ve had so far.
You know you need to automate the funnel through which individuals become customers and then ambassadors of your product. But what’s the strategy? Where do you get the insights to do this well?
A Customer Analytics Program that Assists Growth
The goal of a customer analytics program is to help you understand the motivation behind why an individual becomes a customer, the process of how he becomes one, and how we can automate that process to improve conversion and increase revenues.
Such a program would become the analytical backbone to your online business’ scaling up strategy.
The building block of that strategy is customer behaviour. A good customer analytics program aims to provide quality data and insights about your customers so you can improve your entire funnel: from acquisition, to activation, to retention, to engagement and to monetization.
That strategy thus lies on a solid analytical infrastructure that scrapes data from all touchpoint sources, transforms data and pipes it to data warehouse and chosen analytical SaaS apps and/or customer analytical reports.
Once the strategy is defined and the infrastructure is in place, a good customer analytics program will become an ongoing process to better understand customer segments, their funnels (individual to customer to ambassador) and their continuous improvement through experimentation and optimizations.
To structure our strategy, we work on 2 levels…
First, by continuously validating your business model. Using the Lean Startup principles and processes, we explore and experiment on all of the key assumptions of why an individual becomes a customer of your product.
Secondly, by defining, automating and improving your customer funnel. Using a variation of the Pirate Metrics, we map out the journeys through which individuals become customers and continuously improve those funnels.
There are 3 main components to our program:
- The infrastructure that scrapes, digest and stores your customer data.
- The analytical apps and reports to analyze that data.
- The consulting where we work in collaboration with you to validate your business model, refine your growth strategy, improve your customer conversion funnel and monitor progress.
Schematically, our project is structured the following way:
Implementation and Continuous Improvement
The project would be structured into 4 phases…
The initial phase is to establish the strategic foundation of your customer analytics program. The output is a tracking plan that includes your business goals, main customer personas, touchpoint mapping, customer journeys and events identification.
The second phase takes care of the infrastructure. It’s mostly about configuring and/or developing the integrators that will send your customer data to a data repository and towards SaaS apps + Custom reports.
The third phase is about SaaS app configurations and/or the building of custom reports.
Finally, the fourth phase is an ongoing collaboration where we work together to refine the customer analytics program. Our understanding of user’s journeys will improve and so will the segmentation of our users be more refined. We take an active role in providing customer research and analysis, as well as suggesting funnel experimentations and optimizations.