Are you tired of forking out more & more on advertising and getting new customers into your store? Press play above for a few thoughts on what you could do…
Hey, Brad Younger here on my daily walks again. And today we are on beautiful North head towards Manly.
I want to have a quick chat with you about customer acquisition costs.
And in particularly a lot of people getting frustrated that like the cost of Facebook advertising. It’s becoming a lot harder to advertise in Google AdWords. It’s really hard to advertise online.
It costs a lot to advertise offline, to do any sort of direct mail. Customer acquisition is going up and a lot of people seem to be having a big problem with it.
I just wanted to show you how you could use it to your advantage.
The first thing is if the cost of acquiring a customer in your particular area is going up, so one of the first things I wanted to cover is if the cost of acquiring a customer is going up in your particular niche, then you can imagine what that’s doing to your competition. It’ll be dragging it down.
The second thing I wanted you to do actually compare your cost of acquisition with the lifetime of a customer.
Are you in it for the long game? Hopefully, you are. If you are, then you should be potentially making a lot more money back from a customer for how much it costs to get that customer in the first time. So if you are using a lot of Facebook, for instance, and it costs you X, you should be aiming for at least ten times that over the lifetime of the customer and it is something you can definitely get right if you get the right things in place.
So that just gets us to the point that I love. It is why worry about the cost of acquisition. Embrace it. Take it on board and think of it as a positive thing.
So hopefully you liked today’s video and it’s been something that’s been something that’s been on the back of your mind. If you still have particular issues with customer acquisition costs, then by all means, just comment below and I’ll jump on it and see if I can help you out there. And if you liked the video, just click the like button below.
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