MEPX
Chapter 2 of 10All chapters
  1. 1The business model
  2. 2Customers
  3. 3The money side
  4. 4Competition and advantage
  5. 5Operations
  6. 6Legal structure
  7. 7People
  8. 8Getting customers
  9. 9Risk and resilience
  10. 10Growing

Chapter 2 of 10

Customers

Who exactly, and what for.

Segments

Different groups want different things and will pay differently. Choosing one segment and serving it properly beats being adequate for everyone, especially when resources are small.

  • Describe the customer specifically enough that you could recognise one.
  • The person who buys is not always the person who uses.

Acquisition and retention

Acquisition cost is what you spend to win a customer; lifetime value is what they bring in. The ratio between them decides whether marketing is an investment or a leak.