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Detailed text transcripts for TV channel - MSNBC - 20130126:10:41:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20130126:10:41:00

>> so the author of "the lean start-up" came on the other day and he said something interesting. we were talk about metrics, people often look at the wrong metrics. so the example he gave was you're converting 50% of your customers and what you want to do is increase conversion do a big marketing campaign and instead of 100 people coming in you get 200 people coming in. but you only sold 100 things. you still only have 50% conversion. but if you look at those raw numbers you'll think, wow, i did great in my sales. so even if you're looking at all of this data, how do you catch yourself to say,...

Detailed text transcripts for TV channel - MSNBC - 20130120:12:41:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20130120:12:41:00

And what you want to do is increase conversion. then you do a big marketing campaign and instead of 100 people coming in you get 200 people coming in, but you only sold 100 things. you still only have 50% conversion but if you look at the raw numbers you think wow, i did great in my sales and so even if you're looking at all of this data, how do you catch yourself to say, you know, make sure you're still looking at the right things? >> yeah. i think that the -- the trick is to really spend time with your customers, to understand what your customers are -- what they're willing to pay for, what ...