Using data to optimize marketing and sales strategies / Fidel Dhana
Material type:
TextPublication details: Durham, NC : AICPA & CIMA , 2024-Description: Vol 238 (3) Pages 40-46 : illustrations , 28 cmUniform titles: - Journal of Accountancy / September 2024
Does your business spend too much or too little on sales and marketing? And is that money spent in the right places? To answer these questions, you need to know how much it costs to acquire and retain customers relative to their purchases. Understanding customer acquisition cost (CAC), customer lifetime value (LTV), and their interdependent relationship is pivotal for strategic business planning. Accountants and finance professionals willing to access and compute the data can gain actionable insights to optimize marketing and sales strategies and guide the business toward greater profitability and growth. But common challenges and potential pitfalls lurk along the way.
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