Knowing Your "Cost Of Customer Acquisition" Can Turbo-Charge Even the Tightest Marketing Budget.
What can businesses do to increase sales and improve profitability, without spending more money?
One of the questions I always ask clients is, "What is your cost per customer acquisition? And in about 95% of the cases I get a blank stare or silent voice, followed by "I don’t know."
Now this triggers multiple tactical and strategic thoughts of how I can help them, but for this article I will cover the one that addresses, "Maximizing Your Current Spend." That is, if you are spending say $5,000 a month in advertising (on and offline) are you spending it optimally?(more…)