https://www.youtube.com/watch?v=ROdXJVNjgXI
Finding new customers isn’t that hard.
Email prospecting, paid ads, word of mouth, etc. - there are many ways to do it, but what makes the difference is how much it costs you.
The real challenge comes when you need to find new customers at a low price so you can maximize your margins and invest more to grow your business.
Why do you need to do it?
Let’s say you spend $400 to acquire one customer who will pay you $500.
Your margin is $100.
With $100, you can’t acquire another customer because your Customer Acquisition Cost is $400.
But if you find a way to reduce your customer acquisition cost to $100, your margin will be $400.
Now you can acquire more customers and grow your business.