A and our purchase rat were solid. We were still very small. A but we had a good number of engag email subscribers. We had a good customer engagement rate and a good email engagement rate. We focus on personaliz email campaigns bas on what rat were over we knew about our customers’ tast. We sent birthday emails because we ne to receive birthdays special lead from people who order alcohol. We believ that if we could determine the value of an email subscriber. A then we could afford to acquire more. If we could do that. A our busins would be prictable.
The enemy of growth and succs
In a startup is unprictability. Over the next few weeks. A we found that our average email subscriber was bringing us just under $2.00 in net revenue per month. Again. A we were SMALL. A so we didn’t have a lot of revenue per month. A but we now your enterprise developer should be able to had knowlge. And we now had the potential to scale our busins prictably. And we now knew that our bt chance to scale was to use email marketing rat were over tips and bt practic to scale. Once we determin the value of each subscriber. A we ne to focus on whether we could acquire a subscriber for ls than that subscriber was worth to us.
At this point
A it was simply a matter of tting different channels to acquire new subscribers for our emails. We tt affiliate channels. We partner with wine and food blogs and exchang referral emails. We tt coupons that our customers and website visitors could share with their friends. And we start invting small amounts of money in paid acquisition to attract customers. A leads. A and email referrals. Most of the tts didn’t work. Some generat almost no email quick signs subscribers. Others generat email subscribers. A but at such a high price that we knew we couldn’t optimize that price to a level that would be profitable.
But we remain hopeful and saw positive signs
Some channels were close to our break-even point. A and so we thought we could leverage the efforts to help us become profitable—or were immiately profitable. This allow us to not only tablish our North Star for our email e-commerce efforts. A rat were over but also our North Star for our busins as a whole. We focus on this metric. A found channels that would work. A and began rapidly growing our email list. Definition of North Star Metric by airfocus Over time. A the company began to grow and become profitable. Eventually. A it was acquir by a competitor. A given the consolidation and the fact that we were working on several other busins.