by Samson
(lagos)
Customer Acquisition Cost Lagos Nigeria
Every business has a customer acquisition cost irrespective of whether you're doing business in Lagos Nigeria or anywhere is in Nigeria.
So, what is your customer acquisition cost?
In simple words . . . How much money do you spend before you get one person who buys your product or service?
You may wonder, "Why is it important to know how much I spend in marketing to get one customer?"
Simple. If you know how much you current spend to acquire one customer, then you can determine what your return on marketing spend is. And when you know your return on marketing spend, you can determine if your business marketing strategy is cost-effective or needs to be overhauled.
Remember . . . the single most important ingredient you need to grow the profitability of your business is effective marketing strategy.
How would you know if your marketing strategy is effective?
The answer . . . Effective marketing strategy results in low customer acquisition cost.
If your client acquisition cost is unnecessarily high, your business will become less profitable.
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