Ep. 198, Mastering Cost Per Acquisition: Strategies for Boot-Strapped Businesses

Does your business need to be profitable every month? Pepijn Hufen (CEO of the Smart Marketer Agency) is back with a topic that's crucial for any business owner: Cost Per Acquisition (CPA).  As an entrepreneur or marketer, you're sure to be familiar with the term, but today, Pep shares the approach he and his team use with their clients at the Smart Marketer Agency. Plus, he introduces an alternative metric that he prefers using for business growth and scaling. You will learn,  Why you can't look at CPA in isolation (context is crucial) How to set the right goals for your unique business How powerful a Blended ROAS Goal is for profitability  How Customer Value over the first year informs your decisions about CPA LINKS Pepijn Hufen, on Twitter, https://twitter.com/ and Instagram, https://www.instagram.com/pep_hufen/ The Smart Marketer Agency, https://smartmarketeragency.com/ For more Episodes and Resources, https://smartmarketer.com/blog/?cat=podcasts YOUR ENGAGEMENT MATTERS Thank you to our listeners for the 5-Star Reviews and meaningful messages! This podcast has surpassed our expectations, and we have you to thank for that! If you're enjoying the show, please be sure to follow us (and leave us a review) on Apple Podcasts (https://podcasts.apple.com/us/podcast/the-smart-marketer-podcast/id1522629407) And/Or Follow and Subscribe wherever you listen to podcasts! Please also share these episodes on social media and tag us on your next post #WeOutHere Instagram: @SmartMarketerIG, @mollypittmandigital, @johngrimmshawdigital, @pep_hufen. TIME STAMPS "Understanding how much you can spend to acquire a customer (and how to approach this) is different for every business, but it's incredibly important. You need new customers; they're the lifeblood of your business, but every month, your business needs to be profitable". Pepijn Hufen 01:24 Let's Dive In  05:28  Set your Blended ROAS goal. 07:21 If You're More Advanced In Your Business Journey 08:01 Balancing new customer acquisition with existing customer monetization 10:37 Increase your average order value 14:09  In Summary   "In my opinion, new customer ROAS should always be in the conversation because it's just a more useful metric than just CPA." Pepijn Hufen