Did you know that it costs more to attract a new customer than it does to retain an existing one – but how much can you really afford to spend to attract a new customer?
Knowing the lifetime value of your customers is the key to creating a workable budget for marketing.
That number should dictate how much you spend. Spend too much and you’re losing money in the long run. Spend too little – and you’re missing out on an opportunity to grow your business.
Source: https://tabithanaylor.com
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