In customer lifetime value (LTV)
Cost per acquisition (CPA).
If your primary concern is rankings, impressions, or click totals, think again.
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Both CPA and LTV are key performance indicators (KPIs) that are essential for successful performance.
If you don’t know your LTV or CPA, you’re flying blind as you don’t know what moves you should or can make because you have unknown costs. You’re neglecting the bigger picture.
And when it comes to positioning a company, both KPIs play a specific role.
But which is more important to focus on for profit growth?
When looking to position your business by attracting new customers, you have a few different options.
Start investing in more advertising (or SEO) to attract new and unique customers.
Upsell to existing customers to increase their spending.
Create more products to reach more target markets.
These are the three main, most common options for scaling a company.
At its most fundamental nature, growing a business means you're either increasing the value of existing customers or growing your total customer base, or both. But none of those three options and the strategies they require are easy, cheap, or even free.
Even if you are just starting your business, without any help from outside agencies, your time is money.
And all of these different actions or tools have an acquisition cost. For example, if you look at the average cost of keywords in your industry on AdWords, this tool will tell you part of the acquisition costs.
Or, look at how many hours you will have to spend writing to create content for your SEO keywords that will drive traffic. How much will the total cost of your labor be?
Each of these acquisition factors adds dollars and cents to the cost of acquiring a single customer.
