What You Need To Know About Your Customers

What you need to know to start:

  1. 1.
    Who you are selling to
  2. 2.
    Their needs and pain points
  3. 3.
    How you quantify their interests and needs
When you’re selling a SaaS system, the more quantifiable data you have on each group, the more you can optimize their value, and your profits.

What you need to know about people:

  • Who are they?
  • How would you describe each group?
  • What features are most important to them?
  • Why are they buying from you instead of your competitors?
  • What is the price point where each group thinks the system is valuable and worth buying?
  • What is your cost to acquire each different group?
  • What is the lifetime value of a user in each group?
  • What is the monthly recurring revenue from a user each different group?
PROTIP: When you know how much it costs to acquire a new customer in a particular category, how much they’re going to spend with you & how often they churn, you have your formula for success.