Sample interview questions: How do you assess a startup’s customer acquisition and retention strategies?
Sample answer:
Assessing Customer Acquisition and Retention Strategies
Customer Acquisition
- Target Market Definition: Identify the specific customer segment being targeted and evaluate the size and accessibility of the target market.
- Marketing Channels: Analyze the marketing channels used to reach customers, their effectiveness in generating leads, and the cost-effectiveness of each channel.
- Customer Value Proposition: Evaluate the startup’s value proposition and its ability to differentiate itself from competitors in the target market.
- Sales Process: Assess the sales process for efficiency and conversion rates, including lead generation, qualification, and closing.
- Referral Programs: Examine referral programs and their impact on new customer acquisition.
Customer Retention
- Customer Lifetime Value: Calculate the lifetime value of a customer to assess the potential revenue to be gained from each acquired customer.
- Customer Churn Rate: Analyze the churn rate to iden… Read full answer