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The first several articles in this series have addressed the issue of customer acquisition. Emerging growth companies consistently under rate the cost and time they will have to invest in order to acquire new customers. You should therefore focus on finding new customers that will provide you with more long term revenue than the cost to acquire them.
business strategies for growth
In my last article, I discussed the cost of acquiring new customers, emphasizing that you must understand the cost in cash and time of pursuing new customers and convincing them to take a chance on you.
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business strategies for growth
The cost of customer acquisition (CAC) is one of the most important (and misunderstood) metrics that new companies track. Convincing consumers or businesses to change their buying habits and take a chance on you can take a tremendous amount of time and effort.
