The most important metric for building a profit machine...
Customer acquisition cost.
The lowest CAC will win in the long run. Every time. Every industry.
Earned attention and repeat customers are the two biggest drivers of low CAC.
3 Sure fire ways to lower CAC:
Customer acquisition cost.
The lowest CAC will win in the long run. Every time. Every industry.
Earned attention and repeat customers are the two biggest drivers of low CAC.
3 Sure fire ways to lower CAC:
SEO: Organic traffic CONVERTS (as much as 10X paid traffic). My company, OnDemand Storage gets 85% of our jobs through SEO. In an industry with 18% profit margins, we maintain over 40%!
You will not outspend the biggest players, be agile and commit to building website equity.
You will not outspend the biggest players, be agile and commit to building website equity.
AUDIENCE: Build a loyal following by consistently putting in work to earn goodwill. This can be done by building a social media following or consistently contributing to your community in a positive manner to earn good press.
REPEAT CUSTOMERS/REFERRALS: Turn one customer into many by delivering a wonderful customer experience. Treat customers well, do what you say, and own your mistakes.
Lowering CAC requires investment of time and money. Rather than renting attention through paid acquisition, focus on earning every customer and watch profits soar.
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