• By knowing the lifetime value of your users, you know exactly how much you can pay to acquire new users with an acceptable profit margin
• dig into target customer’s need for the solution, real addressable market size and segments and any existing current demand for the category
• focus on developing marketing skills that will always remain relevant. These include things like marketing psychology, diffusion of innovation, company building, customer research methods, persuasive website architecture, actionable marketing metrics…
• Success is based on a combination of access to financing, market need, exceptional product and marketing execution, tenacity, and let’s face it – luck.
• Effective customer development… By figuring out who needs your product/service, why they need it, what constitutes a gratifying experience with the product/service and getting more of the right type of people to this gratifying experience (highlighting the right benefits and reducing barriers) social media can become a powerful driver for your business too.