I support any framework that promotes trial-and-error over creating an idealised virtual reality. However, a consistent and objective measurement/decision infrastructure is a specific toolset, almost always given lip service within use-of-funds, especially in B2C markets.
Firstly, I recommend entrepreneurs make clear distinctions between customer actions (their behaviour) and customer identify (their personal attributes). Inconsistencies between identity and behaviour in the business model always surface in the assumptions on CAC (customer cost) and LTV (lifetime value). Many of the technology partners that segment data operationally, including, Metrilo, Optimove and Google offer good benchmarks by sector. Secondly, a decision framework is needed to test a variety of adjustment scenarios. For this I point to the Ostwalder Business Canvas. It clearly defines interoperability between functions of cost, value proposition, customer and revenue. The original model is opensource, but the author has commercialised it through the Strategyzer platform. I hope that helps.
I support any framework that promotes trial-and-error over creating an idealised virtual reality. However, a consistent and objective measurement/decision infrastructure is a specific toolset, almost always given lip service within use-of-funds, especially in B2C markets.
This is a great point, Dan. What resources would you point founders towards in order to access said toolset?
Firstly, I recommend entrepreneurs make clear distinctions between customer actions (their behaviour) and customer identify (their personal attributes). Inconsistencies between identity and behaviour in the business model always surface in the assumptions on CAC (customer cost) and LTV (lifetime value). Many of the technology partners that segment data operationally, including, Metrilo, Optimove and Google offer good benchmarks by sector. Secondly, a decision framework is needed to test a variety of adjustment scenarios. For this I point to the Ostwalder Business Canvas. It clearly defines interoperability between functions of cost, value proposition, customer and revenue. The original model is opensource, but the author has commercialised it through the Strategyzer platform. I hope that helps.