article thumbnail

7 Key Factors Obscure Your Customer Acquisition Costs

Startup Professionals Musings

As a business consultant and angel investor, I often ask for your own assessment of marketing ROI , or customer acquisition cost (CAC). It encompasses your marketing strategy used to attract, engage, and retain customers by creating and sharing relevant articles, videos, podcasts, and other media. That’s $300 a lead.

article thumbnail

7 Staffing Strategies That May Cost You Your Business

Startup Professionals Musings

Hiring requirements must be anticipated and implemented with the same precision and tracking as manufacturing volumes, sales leads, and customer service. Trying to save costs by seeking resumes on the Internet will result in poor quality candidates, more time required for screening and interviews, and high turnover.

Cost 260
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 Keys to Attracting Customers Based On Social Needs

Startup Professionals Musings

Yet, these days, I am seeing overwhelming evidence that customer buying decisions, especially with consumers, are often based on emotional and psychological factors , including passions from others, your experience, and social relationships. All of these tend to override cost and usability.

Customer 432
article thumbnail

5 Startup Cost Realities Most Founders Underestimate

Startup Professionals Musings

Image via Flickr by Phil Gyford Starting a new venture still costs real money, even though the entry price has come down dramatically in last few decades. For example, I come from a software background, and back in the early PC days, it could easily cost half a million dollars for a team of professionals to produce a commercial product.

Cost 264
article thumbnail

5 Effective Ways for Startups to Lower Customer Acquisition Costs

Up and Running

But being able to monetize customers and acquire those customers at a low enough cost is quite another. Especially in the early stages of growth, standing up to competition means that your business also needs to minimize the cost of acquiring new customers. This kind of retargeting is highly cost-effective.

article thumbnail

7 Startup Costs That You Assume With Outside Funding

Startup Professionals Musings

Maintaining your team’s passion and freedom to focus first on innovating for customers are only a couple of the reasons for thinking hard before you seek money from crowdfunding, angel investors, venture capital organizations, or attempt to qualify for a public stock offering. Investors will become the toughest boss you ever had.

Cost 267
article thumbnail

How to Optimize SaaS Development Costs

Up and Running

The largest cost component of establishing a SaaS company is product development costs. How to optimize SaaS startup development costs. With proper awareness about the SaaS product development process, your costs can be managed better. However, some features cost more to build and don’t guarantee a profitable outcome.

Cost 158