Leon Hughes, a partner at Piper, a London-based private equity firm focused on consumer brands, emphasizes the importance of strategic partnerships in investments. Piper not only provides capital but also expertise to help brands grow. He advises businesses to test customer propositions in real-world settings and prioritize retention metrics such as lifetime value. Leon's previous experience in ecommerce guides his approach, and he uses curiosity and metrics to innovate and improve customer relationships for long-term success.
"Avoid Meta and Google at all costs in the early stages," Leon says. One of the brands he's currently working with is going in-person to farmers markets, selling directly to customers, getting feedback, and learning from other brands to ensure their product's customer proposition is sound.
"It's not just about the cash that you get invested into the business. You also get expertise and advice," Leon emphasizes the importance of strategic partnerships cultivated through Piper's investments.
"How many people are shaking your hand and allowing you to communicate to them?" This highlights the significance of building long-term relationships with customers through effective retention strategies.
Leon utilizes metrics like lifetime value (LTV) to gauge the health of Piper's brands, focusing on customer retention as a critical success factor.
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