Over what timeframe does the speaker recommend setting a customer acquisition target?

Scott EmpringhamAI Marketing Strategist | Helping CEOs Scale with AI

💵Here’s one of the top budgeting mistakes that new social media managers make…

19 Sept 2022 · 1 min

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0:45

A short instructional YouTube video by Scott Empringham that explains a simple 6-step method for tying a social media budget to ROI. Steps: 1) set a target number of new customers to acquire in the next 90 days; 2) estimate the long-term value per customer; 3) estimate average profit per customer; 4) estimate the maximum acquisition cost per customer; 5) multiply that cost by the target number of customers to get your budget; 6) share the budget and goals with your team and use it to evaluate ROI. The clip ends with an invitation for viewers to comment/agree or disagree.

Questions this video answers

The next 90 days.

Chapters

Here's one of the top budgeting mistakes that new social media managers make. Either they don't have a budget or they do, but it's not tied to roi. Here's a quick and easy way to tie your budget to your ROI. STEP 1 Decide how many new customers you want to get how many you want to acquire in the next 90 days. Step 2 Estimate the long term value of each customer. Step 3 Estimate your average profit on each customer. 4. Estimate the maximum you want to spend to acquire that customer. 5. Multiply the maximum acquisition cost times your target number of new customers you hope to get. Voila. You have a budget. Step 6 Share that budget with your team along with your customer goals and you get a real roi. Conversations about your social media efforts Is the budget right for you? Is it wrong for you? Are the goals right for you and wrong for you? Now you have a real place to start. Agree or disagree? Let me know in the comment section below.