While 37% of respondent companies do not use freemium offerings or free trials to attract new business, one-third of those who do generate a majority of their new business from the model. That’s according to a study from Totango, which also finds that more companies are placing a high emphasis on new customer acquisition than on customer retention or upsells. Among the metrics identified, the largest share of respondents track unique website visitors (78%), with churn (74%) close behind. With respect to churn, the report notes that 35% of companies see annualized levels higher than 10%, while 31% are in the 5-10% range and the remainder seeing levels between 0 an 10%. Churn rates tend to be higher for high-growth companies.

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Advanced/ Digest...

Here are some of the pitfalls to avoid:

  -- >  Focus on managed growth over a hiring frenzy: Always manage growth over aggressive hiring.

  -- >  Innovate or die: Take calculated risks as you adapt and innovate.

  -- >  Shout it from the rooftops: If you’re open to being open, you may well find that customer feedback prevents you from making mistakes, or gives you ideas for features you had not considered. Once you’re visible, you may well hear about potential competitors you never knew existed. You also need to know that being first to market isn’t what it’s all cracked up to be, as your competitors will learn from your pioneering screw-ups.

  -- >  Communicate with your customers: You might not yet have millions of customers to handle, but you should act and respond like you’re a big company. Hopefully, you don’t have too many employees, you believe in openness and frequent communication and, in particular, you can adapt as needed.

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Intermediate/ Summarized...

Seven keys to success in 2014:

1. Create a plan that integrates digital marketing

2. Develop a consistent and relevant brand story

3. Create value: design marketing that serves someone

4. Plan to innovate and re-imagine

5. Set manageable objectives and KPIs

6. Set and maintain a strategy (the most important step!)

7. Optimise, optimize, optimize…

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