What is Customer Acquisition Cost?
Your Customer Acquisition Cost is the total amount of money you spend to reel in a new customer.
It’s your total Sales and Marketing spend during a specific period to acquire a new customer.
Why is it important to know your customer acquisition cost?
If your Customer Acquisition Cost is too high, you’re in trouble. It reduces your profitability.
And if it’s higher than the revenue you expect to earn from your customers, you’re stuck bleeding money.
Consider your customer acquisition cost to be a reality check.
Many entrepreneurs are overconfident about their offerings and fail to realize how much effort and money it takes to get a customer.
How can you reduce your Customer Acquisition Cost with chatbots and live chat?
1. Scale-up lead generation
2. Streamline the customer journey
3. Reach customers on the platforms they prefer
4. Personalize your recommendations and offerings
5. Understand your customers
6. Accelerate word of mouth marketing
Your customers will be marketing your business for free.
You can get started with automating your customer engagements right now at no cost.
Try Engati’s chatbot and live chat solution for free today!