DANIEL L. LUNANI

Trying to guess what your customers or users want is a great way to destroy your business. Using data to learn can help you to do the opposite. Most successful businesses want to collect as much data as they can. They have an endless list of different Key Performance Indicators (KPIs) to analyze,  There are a bunch of data you can analyze. Yet, I believe there are four KPIs need to pay attention to if you want to grow your business. 1. CPA (Cost Per Acquisition) You need to have users paying you money if you want to build a profitable business. It doesn’t matter if you created a product or are providing a service. Everything you do is to generate value for someone. You must know who your customer is so that you can give the best experience for them. After you know who your customer is, you have to acquire them. There are different ways to do that. You can try acquiring users organically by creating content on YouTube and Instagram, for example. When you work that way, you have less...

In our drive for efficiency and effectiveness in life, business, or work place, we tend to present finished solutions and ready-made decisions to others. However well-intentioned, this can have a negative impact on the value people place on change. On the other hand, if you involve people in shaping the future, rather than imposing changes or “selling” it to them, they will value the changes more and take more ownership. As a result, they will participate i n  the change more willingly than reluctantly. That’s the Ikea effect in action. You can use this to your advantage when initiating change. What you made yourself or put effort into, you appreciate more than what was created by someone else. That’s the Ikea effect, named after the Swedish furniture chain. Many people think Ikea is successful because they are cheaper, but that is only one part of their value proposition.  The second important part is being able to assemble your furniture yourself using a short manual. That i...

The best way to tell how a business is doing is to look at the flow of money around that business. The  financial records  will tell you what the owner won't. Money in a business is like blood in the human body. You can tell what is dying by how it is flowing. If more money is moving out than coming in, then there is a problem. Accounting, although not glamorous, is an important skill every entrepreneur needs to master. Entrepreneurs don’t need to have an in-depth knowledge of accounting. Instead, they need to understand the basics of interpreting financial records in order to spot things that are sometimes hard to see. Let me explain. A business can be hot in the marketplace, have a huge amount of cash flowing in but be the edge of bankruptcy. A combination of things that could cause this is debt, interest rate, and cost of production. If the entrepreneur cannot understand the numbers, they cannot make the necessary changes ultimately putting their business at risk. Accountin...

  In a world where the hare beats the tortoise, today’s marketers are agile. They’re reaching their audiences with the right message at the right time, on the most relevant platform. In the constantly-changing digital scenario, a single Google update can pull the carpet out from under your feet and leave your traditional marketing methodology struggling with its focus on producers and sales cycles. Agile marketing helps businesses consider customers and their buying behaviour, in addition to traditional routes. Elements of being Agile: Constant change, constant collaboration, constant iteration, and customer focus Put simply, agile marketing is the use of data gathered to constantly improve your marketing campaigns throughout the process. In 2012, a group of marketers came together to create the Agile Manifesto, an agreed-upon set of values to guide marketers towards a more “agile” way of working. It isn’t on-the-fly marketing. It means customer focus, constant change and collabor...

If you’ve ever taken any formal marketing education, you have likely been taught the 4P’s of Marketing:   Product, Place, Promotion, and Price . In this day and age, you likely never used it in the real world. The reality is that this framework is a confus i ng, distracting, and siloed way of thinking. Only focusing on these four areas doesn’t account for your customer journey itself and how they may be progressing across your value chain. Moreover, the framework focuses you on what you can do for your customer as opposed to the value they gain from you. Here’s a marketing mix you should be focusing your efforts on instead Lead Generation This is collecting contact information, such as an email address, to start your prospect’s journey with your business. How do you that? Well, that’s for another article, but you know how businesses send you a freebie (e.g., checklist pdf, free webinar, or audio files)? You are entering their lead gen engine. This is a key insight in this phase: Yo...