Monday, July 25, 2011

Starting a new web business? Listen to this Penn Alum's advice

Josh Kopelman and UPenn and customer acquisition

We know he gives great, "buffed up" holiday videos, but first Round Managing Partner Josh Kopelman (W'93, AEPi) also gives good advice.

After the jump, for all you entrepreneurs out there considering starting a web business, check out a recent interview Josh did where he talks about customer acquisition and being careful about having too much "free" and not enough "free-mium".

Some notable Josh quotes from the short video above:
  • “Customer acquisition for small- to mid-sized businesses is the hardest thing”
  • You have to market to them as consumers.” If the product has broad appeal, you can consider giving it away for free as a way to subsidize the cost of acquiring new customers. But you need to have something to upsell. “You don’t want to have too much free and not enough -emium”

And for the entrepreneurs reading this, be sure to submit your application to appear on this Penn alum's upcoming TV show!

More Penn entrepreneurs HERE


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