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Growth Document for Community phone

Welcome to Community Phone's Growth Plan!

Growth Hacks

Focus on KPIs

Growth Experiments

Critical Channels to Grow the Brand

Go To Market Strategy

Personas

Explore

Focus on KPIs

This document presents the KPIs that are applicable for measuring growth rates.

1. Customer Acquisition Cost (CAC)

Definition:

The cost associated with acquiring a new customer, including all marketing and sales expenses.

How to Calculate:

CAC = Total Marketing & Sales Expenses / Number of New Customers Acquired

Importance:

Helps determine the profitability of acquiring new customers.

Provides insights into the efficiency of marketing and sales efforts.

Allows for budget allocation based on the cost-effectiveness of different acquisition channels.

Ways to Optimize:

Streamline marketing campaigns to target high-converting audiences.

Improve sales processes to reduce overheads.

Test and iterate different acquisition channels to find the most cost-effective methods.

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2. Customer Lifetime Value (CLV)

Definition:

The total net profit attributed to the entire future relationship with a customer.

How to Calculate:

CLV=(AveragePurchaseValuexPurchaseFrequency)xAverageCustomerLifespan

Importance:

Helps determine the long-term value of customers.

Provides insights into how much can be spent on acquiring a new customer while remaining profitable.

Allows for better segmentation and targeting of high-value customers.

Ways to Optimize:

Enhance customer service to improve retention rates.

Offer loyalty programs or incentives to encourage repeat purchases.

Regularly engage with customers through newsletters, updates, or personalized offers.

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3. Net Promoter Score (NPS)

Definition:

A metric that measures customer satisfaction and loyalty by asking customers how likely they are to recommend the product or service to others.

How to Calculate:

Customers are asked: "On a scale of 0-10, how likely are you to recommend our product/service to a friend or colleague?" Based on their response, customers are categorized as:

Promoters (9-10): Loyal enthusiasts who will keep buying and refer others.

Passives (7-8): Satisfied but unenthusiastic customers.

Detractors (0-6): Unhappy customers.

Importance:

Provides insights into overall customer satisfaction.

Helps identify areas of improvement based on feedback from detractors.

Acts as a predictor of growth, as high NPS scores often correlate with business expansion.

Ways to Optimize:

Address feedback from detractors to improve product/service quality.

Engage with passives to understand how to turn them into promoters.

Celebrate and acknowledge promoters, possibly through referral programs or special offers.

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