Business Model (II)
Understanding the Channels
Now that we know why channels are important and that they actually don’t finish their role until the second sale (or continuation of the subscription), the next step is to understand better the different options of channel.
Choosing a Channel
This is the first question that could come to us, which is, how do our customers want to be reached?
Which are the channels that they are already using? Which are the channels where they are expecting or wouldn’t mind being reached? Which are the channels where they are already saturated and inundated with products?
Then, which are the channels among the ones mentioned that we can use or that would fit our product?
Which strategy are we going to use? One based on organic marketing or one based on paid advertisement? Which one is feasible with the budget we have allocated?
Once you choose the channels to use the next step is to find out how to integrate the channels you have.
How are our channels integrated? How are you combining efforts in all the different channels you are using?
How can you make the most of each one of them?
Depending on the number of customer segments that you have you might want to try different strategies specially if their needs are different and the way in which messages get to them, change.
After using your channels for some time the next step is to start choosing the ones that work best, not only based on ROI, but also on how much value they are adding to your customers.
Which are the channels that will help you the most? Which ones help you connect with your customers?
Which ones work best? Which ones are more cost-efficient? How are we integrating them with our customer routines?
By taking into account these questions choose which are the channels that are moving the needle. Startups have limited time and resources and speed is our only advantage so choose the channels that make a difference for you and go with them.
Once we know our customer and how to reach them, the next step is to understand the sales cycle
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