3 Ways to Lower Your Customer Acquisition Cost
Growth Marketing Genie
We deliver measurable business growth, positive ROI, and powerful lead generation for your business.
It’s in your best interests to keep your customer acquisition cost (CAC) low, especially if your customers’ lifetime value isn’t that high either.
Let’s not waste time, read on to get three quick strategies to improve your CAC today!
Optimized audience targeting
Many businesses fall down in their audience targeting. Even if they have a defined audience, they often end up wasting spend by failing to optimize and adjust their targeting over time.?
Consider creating a set of buyer personas or target audiences and re-evaluating them every 3 to 6 months.
Split testing
Don’t get lazy when it comes to marketing! Just because you and your team like your ad creatives or landing pages, doesn’t mean that they will hit the mark.?
Be sure to create multiple variations and measure their performance. Some of the elements you can change and test include:
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We recommend trying each version out for two weeks as any less won’t attract enough data for you to make a decision.
Try out affiliate marketing
Influencers have some of the best returns for the money spent on them. This, in turn, means that you’re getting better results for a lesser spend, so your CAC is lower.
When you couple this with affiliate marketing, your CAC improves even further. In affiliate marketing, you give influencers codes to be used on your site, and the influencer is only paid when a sale goes through with that code. Since you only pay when a sale is successful, your CAC will be significantly reduced.
But these aren’t the only strategies!
Don’t waste any more time with a CAC that is too high! If your spend is much higher than your return on investment, then now’s the time to improve that gap. Get more tips in 6 Ways To Improve Your Customer Acquisition Cost.