Episode 108 | How to Increase Profits by Reducing the Customer Acquisition Cost
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Episode 108 | How to Increase Profits by Reducing the Customer Acquisition Cost
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Increasing a company’s bottom line is arguably the most important metric!
Decreasing your Customer Acquisition Costs (CAC).... not rate (we want to increase the acquisition rate) is one great way of increasing profits! Here are the strategies that have worked for our product business.
Here are a few ways to reduce your CAC:
- Know the psychology of your customer aka the psychographics so you can make the best product that will solve the problem for your customer.
- Create an influencer marketing campaign and provide a culture where your customer will share how they are using your products! Now you will get in front of your customer and help increase motivate a purchase.
- Create a community by involving your customer in product development, and invite them to be a part of the team as an affiliate. We love using the following apps that help us with creating a great community.
Here are few apps that we use:
- UpPromote
- Loox
Check out alsosophia.com
Catch a few more episodes regarding psychographics!
- Why Build a Brand and Not ONLY a Business
- The Biggest Mistake in Business
Remember, you got this!
XOXO,
Sophia
A Team Dklutr Production
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