New Delhi: “No one should look up to me” said Lenskart Co-founder and CEO Peyush Bansal while speaking at the 2nd edition of Startup Mahakumbh.“One thing in hindsight that allowed us to scale to wherever we are today, and I think will continue to help in the future, is just having a very, very deep focus on customer.”
“It really means to ask every day for the next 20 years why people who are buying, are buying? Why people who are not buying, are not buying? And what is the real problem that you are solving? You don’t have to do this at high level or even two levels below. You have to go 20 levels below,” he said.
On rising marketing costs and how D2C brands should approach customer acquisition, Bansal offered a view that challenged industry norms. “If you build a structure that cares about the customers you’ve already acquired… and go out of the way… because you can never make a profitable business otherwise. The only way to reduce new customer acquisition and survive in today’s time is: existing customers focus.”
Bansal also took aim at the buzzword omnichannel, urging founders to shift the lens back to what truly matters.
“The word itself has a problem. The channel is not omni. The customer is omni. Eventually, what many of us forget is… marketing, investor story, everything is online, offline. Technically, this is a wrong question for investors to ask and founders to answer. Your business is not online or offline. It is all.”
