Knowing the numbers that will grow your company -- Cameron Murphy, Head of Growth at Calqulate

Want summaries, show notes, and more? Subscribe to theForward Launch Your SaaS newsletterMORE FROM CALQULATECalqulate connects startups, investors, banks and lenders with financial data to speed up fundraising processes and lending decisions.Learn more at calqulate.ioReach out to Cameron at linkedin.com/in/cameronomurchuGUEST BACKGROUNDCameron is the Head of Growth at Calqulate, a financial analytics software startup. He has worked mainly in the finance vertical and his degree in science has given him a unique perspective on the business world, especially since A/B testing has become all the rage.MAIN INSIGHTNew customers or new users do not mean growth all the time for the company. Growth also comes by stopping the acquisition of unprofitable customers.KEY TAKEAWAYSGrowth can be an increase in the price of your service or productThe marketing and finance department meet at customer acquisition costThe marketing department burns money to make more moneyThe ratio of customer acquisition cost (CAC) to customer lifetime value (LTV) is typically around 1:3 (For every dollar spent on CAC you get three dollars in return)Growth only comes when you can measure itPRACTICAL STEPSReduce rather than add - take a look at the things that you can take away before looking to grow your customersIdentify if you want to grow or scaleGrowth - You’re going to put more money but you’ll get the same resultsScale - Scaling is being efficient. You’re going to put in the same money but you’ll get better results.Start A/B testing the strategiesOnce you gather enough data, analyze which one is working by looking at the CAC to LTV ratioTIPS FOR SUCCESSSee if you can increase your product or service priceFocus on sustainable growthAs a marketer, it’s a great thing to be aware of the financial factors of the company so you can see if your efforts are bringing revenue to the companyGive feedback on this episode by sending the host a text message.SIGN UP FOR THE EMAIL NEWSLETTER at forwardlaunchdigital.com/podcast