Business Building

Actionable advice on starting and growing business in a data-driven way.

How We Took on Slack (and Lived to Tell About It)

How do you compete with one of the biggest names in your industry—and with a brand new product?

Three years ago, we launched Chanty, a SaaS application for team chat. This was nothing new. Thousands of apps are born and die each year. There was one difference—we were going against Slack, the giant that is the SaaS role model. Call it bold or stupid, but we had our work cut out for us.

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What 15 CEOs Learned Building Top Agencies

I asked more than a dozen successful agency CEOs to share how they’ve navigated critical moments—getting started, landing (and keeping) clients, scaling teams, and marketing their agency.

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How Much Do SaaS Companies Spend on Their MVPs?

Eric Ries once described the minimum viable product (MVP) as a version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort:

Instead of spending years perfecting our technology, we build a minimum viable product, an early product that is terrible, full of bugs, and crash-your-computer-yes-really stability problems. Then we ship it to customers way before it’s ready. And we charge money for it.

The reasoning behind releasing an MVP is simple: The longer companies wait to release it—and the more money they spend building it—the riskier their product becomes.

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How To Calculate and Increase Customer Lifetime Value

That it costs five to seven times more to acquire a customer than it does to retain one isn’t entirely true.

The origins of this myth can be traced back to the 1980s when the Technical Assistance Research Project published research that stated the cost of customer acquisition was significantly higher when compared to the cost of customer retention.

Soon after the research was published, other institutions like the Customer Service Institute, Consumer Connections Corp., and ITEM Group all “found” similar data.

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B2B Video Marketing: A Strategy for Lead Generation

Video marketing is booming. It’s no longer news. Cisco predicts that, globally, video traffic will be more than 80% of all web traffic by 2022 (up from a prediction of 75% made in 2017).

Other recent reports claim a 17% leap in video content usage in 2018, with the average person watching more than 90 minutes of online video every day. In the same report, 85% of surveyed consumers said they would like to see more videos from brands.

However, simply creating videos isn’t enough. Content marketing in general—and video marketing in particular—needs strategic planning to work.

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Webinar Emails: A Start-to-Finish Promotion Process

Webinars can establish a relationship with leads and teach them how your product can improve their lives. Some 75% of marketing and sales leaders say webinars are one of the most effective methods to generate high-quality brand awareness.

But not every webinar is a success—78% of webinars have 50 or fewer attendees. A major reason? Poor promotion. If you can promote your webinar the right way, you can gobble up more viewers and increase conversions. 

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Social Commerce

Seth Godin once said, “You can use social media to turn strangers into friends, friends into customers, and customers into salespeople.” [Tweet it!]

Strangers into friends? Of course. Friends into customers? Yep, it’s relatively easy to promote your site (where followers and friends can make a purchase) on social media. Customers into salespeople? Sure, read up on NPS.

But with the introduction of social commerce, which allows friends to become customers on social media sites (without making the trip to your site), we’re taking Seth’s thoughts to a whole new level.

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How to Build Robust User Personas in Under a Month

Customer personas are often talked about in marketing and product design, but they’re almost never done well.

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The 4 Types of Value Propositions Every Business Needs

Humans are value-rating machines. Every day, all day long, we size up different decisions by appraising the value proposition of that action.

Should I buy this product? Sure, that’s the obvious one. But also:

  • Should I go to lunch with this person?
  • Should I open this email?
  • Should I even spend the time to ponder this decision?

When most marketers think about a value proposition, they’re thinking of the 10,000-foot-view—an overall company value proposition. This can make them feel powerless, especially in a large organization. The CEO controls the company value prop. What can you do?

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After the Lead Magnet: How to Nurture B2B Leads

When a prospect downloads your lead magnet, their journey to paying customer has only just begun—it may never finish. 

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