![]() ![]() The simplest way to calculate your CAC is to divide your total marketing and sales spend by your total number of new customers, as shown in the formula below: Calculating Your Customer Acquisition Cost It may even be helpful to compare your CAC to adjacent industries to see if you’re within the broader range of other B2B businesses. The purpose of this article is to help you understand what a good CAC looks like within your industry. The latter can be ascertained by comparing your CACs against industry benchmarks. īy itself, your CAC tells you two things: (1) Which channels to invest more and less in and (2) your marketing department’s strengths and weaknesses. That metric, along with your Customer Lifetime Value (Customer LTV, or sometimes abbreviated CLV) are your best friends in the world of B2B marketing. EXCEPT that with the “new” battery (that I had tested myself before), the Indiglo light isn't working.When people ask me how to evaluate the ROI of their marketing campaigns, I tell them to start with their customer acquisition cost (CAC). I finally remembered that a spring had gone bad on me before and that I had spare springs and an installation tool. It took me forever to re-install it last night. EXCEPT that one of the band springs came out of its holes in the watch yesterday. It took him 4-6 minutes to do the job, and I was out of there. I called Gold Star Jewelry at 162 Kentucky St. A sketchy dude in a sketchy store in a sketchy neighborhood. I just hope the poor lady didn't wind up paying way too much for the “very strong” necklace he was hawking. I've gotta say, the guy is a smooth liar and con. When I got outside, I realized that I had just been baited and switched. I retrieved my watch and battery and left. It had gone from being friendly and helpful to hardnosed, unpleasant, and overpriced. His manner was now very different than on the phone or with the woman. I asked, “How much then?” He said, “I'll do it for $20.” This is for a $25-30 watch, mind you. I said, “No, you asked me if it was a pop-off and I said it was a screw-off.” He said, “See these screws? I can't do this for $5”. He then said accusingly, “I asked you on the phone if this was a screw on back and you said no”. Then he looked over at me and asked me if that was my watch. I thought, “Well, that's nice and disarming to say that”. The jeweler asked if the stone on the necklace was a diamond, and when the woman replied in the affirmative, he said, “You need a new necklace.” He pulled a 10-times-thicker gold necklace out of a case and said, “Now, I'm not trying to sell you something you don't need…” in the same helpful way he had spoken to me. A woman was there to have a necklace repaired. When I returned, there were two customers in the store. I left my watch and battery and went to the nearby Safeway for about 10 minutes. When I arrived 3-4 minutes later, the man was gone and the expressionless woman said he'd be back soon. I said no, it's a screw-off (meaning there are screws in the back). He asked if my watch was a pop-off (meaning the back). I asked about replacing the battery with my own. On 1/24/19, I was a couple of blocks from Benchmark when I called about having my watch battery replaced. I had gotten a quote for $11 or $12 from Batteries Plus, even with my own battery. I have had it replaced before, for between $5 and $10, at a couple of jewelry stores. While I've replaced my watch battery myself, it's a hassle to do. ![]()
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