Cost to win a customer
12 · GrowthWhat does it cost to get a new customer?
Winning customers costs money: advertising, time, discounts and the work of following up leads. Knowing the cost tells you which ways of finding customers pay for themselves.
What to track
Cost per new customer
What you spent on winning customers divided by the number you won.
Where customers come from
The channel each one came from, such as a referral, social media or a walk-in.
What a customer is worth
What a customer brings in over time compared with what it cost to win them.
Review it monthly and move your effort towards what works.