What are Customer Acquisition Channels?
In this clip you'll learn why it's important to look at customer acquisition costs across all of your marketing channels.
Where are your customers coming from?
Looking at overall customer acquisition cost can be helpful to know at a high-level to understand how much you're spending to get a customer. But by looking at customer acquisition costs of individual channels, your brand can make more informed decisions about allocating budget. For example, it might cost you $100 to acquire a customer from Facebook advertising, but it could cost you $140 to acquire a customer from search ads. At first glance, you might think that you should put all your money into Facebook ads since it's cheaper to acquire a customer through that channel than search ads.But that doesn't tell the whole story. You also need to look at the customer lifetime value (CLV) of each customer that's coming in across your different channels. It could be the case that customers that come in through search ads spend more with your brand over their lifetime than those that come in through Facebook ads.In conclusion, understanding customer acquisition and customer lifetime value at the channel level will help inform your marketing strategy and budget exercises. Watch all the clips from Resilience: An eLearning Series For Ecommerce Brands in 2021 here.