CUSTOMER ACQUISITION COST

Customer acquisition cost (CAC) refers to the cost associated with convincing a customer to buy a product/service. It includes the cost of the product and the cost incurred on research and marketing efforts as well. It holds a significant role in calculating the value of the customer to the company as well as the ROI of acquisition. It’s imperative that lower the cost, greater the success of the business. Here are some amazing tips to effectively reduce customer acquisition cost. Leverage buyer personas: When it comes to marketing the products, the business operators should be clear as to who the target audience is. This can be done easily with the help of buyer personas. These personas can then be leveraged to market the products and services to the intended groups, thus eliminating any unnecessary customer acquisition costs. Boost your conversions: Once the target audience has been identified and buyer personas created, the next step should be employing the best strateg