As a business owner, one thing you must track all the time is your CPCA
In a lay man’s terminology, Cost Per Customer Acquisition is defined as the amount of money is costs you to acquire one customer.
This I why revenue is a mirage.
Many businesses owners make money but their businesses are not growing.
One of the major reasons is that they are spending so much money acquiring customers.
Imagine using 50k to run an ad and earning 100k in return.
That is far too expensive and unsustainable.
If another person can spend 50k on ads and make 300k, that person has a lesser CPCA and of course a more profitable model.
Some business owners spend hug money registering for conferences and events that they have not mapped out the strategy for getting back their RoI – Return on Investment.
Stop engaging in business activities that cost you money if you are not certain how that activity will bring back the money.
Beyond bringing back the money, it should bring it at a faster rater and higher volume.
Above every other thing you can think of, the greatest approach that lowers your CPCA is building a QUALITY BRAND.
Today, I encourage you invest a lot of time, energy, resources in building your brand.
