How to Measure the Success of Customer Acquisition Efforts?
Measuring the success of customer acquisition efforts involves tracking several key metrics, including:
Customer Acquisition Cost (CAC): This metric measures the total cost of acquiring a new customer, including marketing and sales expenses. Conversion Rate: The percentage of potential customers who take a desired action, such as making a purchase, after engaging with your marketing efforts. Customer Lifetime Value (CLV): The total revenue a business can expect from a customer throughout their relationship with the company. Churn Rate: The rate at which customers stop doing business with you. A lower churn rate indicates successful acquisition and retention efforts.