Have you been frustrated by conversions about pricing you’ve had as part of a Management team, or as an investor? Throughout my time as both a strategy consultant and investor, pricing strategy has been a topic that has fascinated me. Whilst I’ve had many conversations with Management teams about pricing, I believe that price has been consistently underutilised as a value creation lever. I’m planning to write a series of pieces on this topic, so I thought I’d start by introdu

I’ve run more than fifty primary customer research exercises and have probably made every mistake there is to make. This is one of those tasks that seems simple on the surface but the devil is in the detail. I want to share my checklist that any marketer or strategy consultant should use when preparing to run customer research, focusing on online, quantitative surveys. This guide is intended for customer research to inform internal choices about strategy and tactics. If you a

An Ideal Customer Profile (ICP) is a description of the customers that you would most like to acquire for your business. In other words. If one more customer walked in the front door, brackets metaphorically). What do you want them to look like? The ICP is a more specific version of the long-used “target market” concept in marketing. The ICP, however, goes beyond demographic/firmographic information and can include customer problems, the triggers that have caused the customer

I’ve recently revisited Sam Savage’s "The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty", a book he published in 2009 building on his original article from 2000. Savage’s concept is that decisions made based on average assumptions are often flawed due to overlooking the variability in data. Savage illustrates how this statistical pitfall can lead to disastrous outcomes across various fields, from finance and business to healthcare and climate change,

Of course, this could be £100, £10,000 or £1 million depending on the size of your marketing budget today - but this one question has proven to be the most illuminating thing that you can ask a marketing leader (your Chief Marketing Officer, Marketing Director, Head of Marketing or equivalent). This is also an excellent question for marketing leaders to ask themselves. It helps you/them to understand both the strategy they’re pursuing and their understanding of what is workin

How many times have you seen a set of customer ‘pen portraits’? The format is ubiquitous, normally a series of densely written pages of text accompanied with a stock image of someone smiling into the camera and a generic name, where we are told many specific, qualitative traits that our young professional or retired couple customer possesses – where they shop, their attitudes to politics, whether they have sugar in their coffee. The problem with this approach to customer segm

Around two thirds of trackable web traffic comes from search engines, whether from paid listings (paid search or PPC) or organic/free listings (organic search or search engine optimisation - SEO). The chances are that search represents a very meaningful source of online traffic, leads and customers for your business – even if it is at the start of a long B2B purchase journey. It follows that when you are setting your digital marketing strategy, you should be seeking to unders

LTV, or customer lifetime value , is one of the most important metrics for your business to understand. It equates to your ability to...

Working as both a marketing leader and an investor, a constant challenge has been to prioritise among the myriad ways that I could spend...

‘Is the marketing function in your organisation a cost centre or a profit centre?’ This is a question I’ve asked many times, both as a consultant and an investor. It is shorthand for ‘do you understand the role of your marketing function in driving growth?’ and ‘how mature is your marketing function?’ Often, the answer to this question will be ‘a cost centre’. This is normally the case for SMEs and especially those selling to other businesses (B2B). I’m going to explain why y

What is Marketing Attribution? Marketing attribution is the process of determining how different marketing activities contribute to customer acquisition and retention. It plays a critical role in measuring the effectiveness of marketing efforts and helps businesses to optimise their budgets and strategies for maximum return on investment (ROI) and minimum waste. Purchase journeys starting today are more likely than not to start online, whether they are B2C or B2B (the stats a

It goes without saying that being able to efficiently acquire new customers is integral to long-term profitable growth. But what if it...

The ratio of Customer Lifetime Value (LTV) to Cost Per Acquisition (CPA or CAC) is one of the most important commercial metrics for any business. It represents the fundamental unit economics of customer acquisition and how efficiently a business is able to grow. In simple terms it is the return on investment (ROI) of marketing spend. In spite of this, in my experience most Management teams of small and mid-market businesses have never calculated it. You can understand why, as

The concept of Cost Per Acquisition (CPA) or Customer Acquisition Cost (CAC) seems incredibly simple – but there is often more to it than...

It’s the obvious follow-on from any analysis of Customer Lifetime Value (CLV or LTV) – ‘that’s great, but how can we increase LTV’? It’s...

When I sat down to think about the very first piece to write for CoppettHill.com, Customer Lifetime Value was an obvious choice, as it sits at the centre of so many topics that I want to cover. In fact, most conversations about growth and marketing investment come back to the value of an individual customer or different types of customer – whether that is defining your Ideal Customer Profile (ICP), choosing how much to spend on marketing, or considering how to develop your pr