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B2C Sales Basics

Target Markets and Customer Personas

In order to set up a successful sales strategy, you will first need to understand who you are selling to. Given the importance of defining your target user precisely, the following aspects are crucial inputs into the sales process and are discussed elsewhere:

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Target Markets
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Customer Personas and Ideal Customer Profile

See also a16z's paper on product zeitgeist fit - a concept describing when a product resonates with the mood of the times, which is especially relevant for any B2C offering:

Marketing & Sales Channel

The B2C purchase process is nonlinear and less predictable - reaching and engaging customers in the digital age can be very challenging as they are not looking for ads but for valuable connections, content and entertainment. Social media is crowded - however, if you find a way to break through all the noise, the opportunity here is massive.

Thus, it is crucial to understand the individual social media platforms and its characteristics to identify those that fit your product best.

Social Media Marketing Best Practices

KPI’s & Metrics

Retention = A cohort retention curve that flattens, indicates stickiness - user seem to continuously like engaging with the product

User Engagement = Power user curve should show a smile -- with a big concentration of engaged users (you grow out from this strong core)

NPS = Net Promoter Score measures the loyalty of customers to a company. Measured with a single-question survey and reported with a number from the range -100 to +100, a higher score is desirable (likely to affect referral & retention rate)

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Lifetime Value:Customer Acquisition = ratio between lifetime value of a customer an the cost of acquiring that customers

Return on Ad Spend = ROAS is measured by calculating the total revenue generated from your ads (your return) divided by your total ad spend. It’s an important metric to ensure that you are making actual value with your campaign, and that you are reaching consistent numbers and not seeing a drop in results.

Data-driven Sales Best Practices

Owning the customer relationship and derive meaningful data from these interactions can be very valuable. Especially in view of traditional mass marketing becoming outdated and marketing turning more personalized.

However, given that customer data is generated at every touch point and interaction, you will probably face an overload of data. Thus it might be helpful to leverage new technologies to automate the process of collecting, mining, analyzing data early on.

BI / Data Analytics

Cross Selling Automation