Great companies recognize that there are now multiple interdependent stakeholders, including customers, business partners, and social groups, who need to be part of your equation since they can drive or limit your success, in addition to management and stockholders.
…strengths of the management team or a sustainable competitive advantage…may not be sufficient to make your startup the great success embodied in your vision.
…renewed focus on other less tangible attributes which can set your startup apart.
- Conscious Capitalism® movement (led by John Mackey of Whole Foods)
- The B Team (led by serial entrepreneur Sir Richard Branson)
- Benefit Corporation (B Corp) form of business now available in 14 states
- be relevant and stay relevant
- find a voice relevant to the ecosystem
- gain balanced traction
- form partnerships and alliances within the ecosystem
- maintain a relevant laser focus
–>freemium users are not like those who will actually give you money. Frequently the features that paying customers want don’t show up on the freebie’s radar.
–>average is 1% conversion rate from web traffic to a (real, not “free”) purchase
–>Retool your expectations of Freemium: It’s a marking cost. It’s more expensive than you give it credit for, but it could very well be the best marketing strategy available.
- measure the total cost of acquiring new paying customers
- make sure the cost is much less than the total revenue
See on blog.asmartbear.com