How much does it cost you to get a new customer for your business?
We asked this questions to one of our clients the other day. He didn’t have an answer which isn’t necessarily a bad thing for a new company or even an old company. However, for a company trying to figure out where to put some of their add money to get the best results, this is a very, and maybe the most important question to be able to answer.
How much does it cost my business to aquire a new customer?
I am not a math wizard, but there is a simple equation to figure out what that cost is.
Let’s say that you are getting 25 new customers a month that is our base number.
Let’s say that you are spending 1500 a month in Website Developmetn Costs
The life time of that site will be about 24 months give or take.
Your monthly promotion/advertising costs are about 1000 dollars, which i depending on your business is low.
Your monthly maintenance Costs are 500 dollars.
You take all of your costs and divide that number by the ammount of customerers you have in ths example it would be
($1500/24) + 1,000.00 + 500.oo = 62.50 per customer.
Now 62.50 migh be high or considerably low depending on your cost of service. If your customers spends 100$ every other month that ROI is awesome. if your customer only spends 50 dollars every six months you need figure out a better way to find customers or up your price.
Many small business don’t figure out this number, they just know that they need to perform X number of jobs to stay in business.
Once you know the costs of acquiring a new customer, you can start to identify where you customers are coming from.
Service Marketing Ideas is a full service marketing company that specializes in Google Places Management and Local Citation Building. Contact us today 801-903-1033
A simple answer is often, and the more specific answer is at least once a month. Update is a better word to use. You or your Google Places manager or Google Places Consultant should be updating your place page once a month. There is a big difference between changing and updating. Updating means that you just log in, and then log out of your Google Places Page. If all of your information is correct you shouldn’t make any changes. Changes can take anywhere from five minutes up to seven weeks.
If the the site does not need major changes, but is missing some details about your business you should update it asap. Here are the three reasons why your page should be updated regularly.
1.) If any of your information is wrong or needs to be changed, it should be updated asap. Depending on your page, the updates can take anywhere from seven weeks or are updated instantly. Much of the updating length depends on your business and how long your places page has been around. If you are changing any of your (NAP) Name, Address, and Phone number you may have to verify your account. Account verification is a necessary process in the Google Places update. Your business may fall into a category that Google is keeping a close eye on (Locksmiths). Essentially, Google wants to make sure that the person making updates is the actual owner or manager of the the Google Places accounts.
2.) Google will sometimes change your places page information if they find other or non matching information about your business. This usually happens with businesses that have multiple locations, multiple phone numbers, or they are located in a plaza with other business sharing the same main address. For instance, if you are in a business park building, you may have the same address as another business, but with a different suite number. If the other businesses in your building to not manage their places page correctly it may have influence on your places page. This has happened to one of our clients ( a dentist). We log in to our client’s Google Places pages once a month just to verify all of the information we originally received from them.
3) This is not an absolute way to stop hijacking, but it helps. Similar to the locksmith debacle in New York, at times people are hijacking other businesses Google Places pages. Essentially they take the rank, change the phone number to one of their forwarded numbers and now they have your business. This generally happens with service industry business or businesses where their work is done outside of the home. Plumbers, Electricians, Carpet Cleaners would be a few examples. If you don’t have a physical location where you business is taking place the odds are higher for you account to get hijacked. Loggin in once a month and looking at your information will help prevent hijackers.
If you need Google Places Page help, call Service Marketing Ideas 801-903-1033. We are Local Google Places Managment team that focuses on Google Places Ranking, and Review Management.