Marc Haine and Skip discuss why leaders must know their customer acquisition cost from paid media. If you can't measure CAC, stop spending on ads immediately. Running ads without tracking this number is like running ads with no one to answer the phones.
Skip, what should leaders stop doing immediately to regain clarity and to start saving their hard-earned money?
If you don't know your customer acquisition cost from paid media, then you should stop doing paid media immediately.
That's kind of like right up there with doing an ad and not having people to answer the phone, or doing the ad but not having a follow-up process, right?
If you don't know that full chain from ad to someone walking in the door or however they purchase from you and purchasing from you, then you really shouldn't do paid advertising yet. You need to stop everything and figure out exactly what that flow is because you, you can't tweak things like, you know, if you're in an industry with a longer buying cycle,
