What that means for marketers is a higher price for impressions—and therefore a higher cost of customer acquisition.
Harness The Power Of Your Employees Like many in here industry, Mayer is concerned with rising acquisition costs.
Otherwise it can be very difficult to economically acquire customers.” Her point—that your brand should be interesting enough to generate buzz without extensive advertising—has been taken to heart by many entrepreneurs.
Heinilä continues, “By engaging employee advocacy through social media and other mediums, companies can build brand awareness and educate prospects—key objectives in any good sales pipeline.” 2.
Get Very Specific With Your Targeting LinkedIn CEO Jeff Weiner once said that data—and by extension the hyper-targeted marketing it allows—powers everything his company does.
Yes, your CPM (cost per one thousand impressions) is likely higher than it was a year ago, but that doesn’t actually mean your COA (cost of acquisition) needs to skyrocket.
Mayer explained to me during our conversation that she spent a tremendous amount of time researching and defining Havenly’s perfect customer—an important step in any business that many entrepreneurs often neglect.
When it comes to long-term value, not just any customer will do.
If not, consider restructuring your paid advertising strategy and work on your landing pages to help convert more of your best prospects while weeding out the bad ones.
This self-selection process can be very important for the long-term success of your business.