Do you know your cost per customer?
…we can help you figure it out.
First, let’s step back and understand why you need to know this information.
Sure it’s basic business sense, but when you know these answers you then have access to two CRITICAL pieces of information that can help you grow your business!
Did you know there’s a proven formula for acquiring your customers?
There are two formulas, one for conversion rate and another for average customer value.
#1 – The Conversion Rate, expressed as a percentage, is calculated by:
# of Purchases / Sales Page Visits
#2 – The Average Customer Value formula is:
Initial Offer Price + (Upsell 1 Price * Upsell 1 Conversion Rate) + (Upsell 2 Price * Upsell 2 Conversion Rate) = Average Customer Value (ACV)
But these formulas are worthless if you’re not producing GOOD content!
If you’ve read our other blogs, you already know that, it’s something that we’ve said over and over…
Good content makes customers trust you and establishes you as the expert in what they need.
So back to the formula for acquiring your customers. Here it is …
Average Customer Value (ACV) / Average Visitor Value (AVV)
Good content works extremely well within your social media marketing strategies because…
…it helps draw more customers to your website.
But, you cannot just post content and hope that the right people find it.
You want to advertise it to your potential customers and the numbers above let you know how much you can afford to spend!
There are some areas you can measure to see if you are drawing those customers in:
- # of Sales Qualiﬁed Leads
- Offer Conversion Rate
- Promo Email Open Click-Through Rate
- Retargeting List Growth
- Average Customer Value
- Retention Rate
- Buyer Recency / Frequency
Our Marketing Strategy walks you through the process to increase your sales and the frequency in which customers return to you for more business.