The Acquitention process
This content was originally ripped out of the article "Why this? Why now?"
We decided that it would be best as it's own stand-alone content.
So here it is, ready for the magic:
Once the questions are well understood and the desired outcomes are agreed, the first step is our Acquitention Heuristic:
1. Segmented customer analysis
2. Financial and operational business driver review
The Acquitention Heuristic is part of every engagement because it gives us an important understanding of the business, drivers, growth, churn, strengths and weaknesses. Much of the data contained in the heuristic is probably already known to certain individuals inside the client company, but it puts us on the same page for cohorts, retention, growth, LTV, AOV, ARR, etc. Some of the data, including novel segmentation and clarity on your best/worst customers, and critical metrics which connect ops-to-finance, will be new to everybody.
You will receive a detailed report on your growth, retention, business drivers, and critical customer segments.
Acquitention Phase II
Once the Heuristic is complete we will have a much better idea of whether the questions we started with can be answered or if we should pivot to more fertile ground.
This stage is more flexible and takes longer than the first. We reverse engineer the critical segments and understand how they behave in the business processes, what patterns they follow, and make statistical predictions on how changes would influence future outcomes.
Some of the many strategies we pursue now are: * Identify usage/purchase patterns that separate the best customers from the worst customers. Can we influence new customers to be more likely to become high LTV? * Develop retention/improvement strategies for each bucket. Can we move middling customers into the great customer bucket? * Use activity patterns and demographic variables to develop marketing strategy to acquire more of the desirable customers and fewer of the undesirable customers
We focus on answering the company’s primary questions, using their operational and business drivers data to help them make better decisions and achieve the best financial outcomes.
Acquitention Phase III
If it makes sense based on the analysis, and if the client desires, our firm is available to help implement the decisions, measure the outcomes, and iterate the knowledge.