Axon Local Media empowers you to create effective local advertising.
Prior to the internet, advertising locally consisted of making sure you had an ad in the yellow pages and a spot in the local paper. To attract new customers you'd put up some fliers, buy some billboard space, get a radio spot and maybe a television commercial.
The internet has changed the entire advertising paradigm as people generally no longer open the phone book, many local papers have disapeared, even listening to local radio and watching local television stations have been largely replaced with internet radio, cable and Netflix. Which is great, for reaching a nationwide or even global audiance, but not so great for local advertisers.
All of the most effective ways of reaching new prospects have been entirely or at least partially displaced by their much less local internet alternatives.
Internet advertising is without a doubt a very effective means of reaching a targeted audiance group (For instance people that are interested in photography can easily be targeted with a facebook ad, as well as people who share a love of hairless cats, drive sports cars, or are Packer fans. All easily targeted with online advertising campaigns).
I've spent years and have done very well building websites, advertising campaigns, and performing SEO for both furtune 500 and small business ventures alike. Well enough that I've become invested in a number of small businesses.
However
I've come to realize, the shift in advertising methods has left a large gap in being able to reach a nondescript local customer, for instance as a restaurant owner, I want to find prospects in my general vicinity that are hungry or will eventually become hungry. As a graphic designer, I want local people to know that they can turn to us for signs, apparel, banners and specialty printing, but am not intereseted in advertising online or performing the same services for non-local customers.
The only effective method I was able to find to market to anyone/everyone in a general vicinity is through rather expensive billboard advertising.
Research shows:
Billboards however, are limited in number and location, often require an expensive contract, and changes incur additional charges and take time to get done.
So I started a new venture that uses the effective billboard model without any of the downsides. Our digital billboards are supercharged with a shielded web integration allowing advertisors to add, change, or move their advertisement to additional or new locations instantly and our most popular subscription rate starts at only $35/month!
Create an account to get started, contact Floyd Baker for a personal demonstration or if you get hungry, go check out the one at my restaurant.
Customer Acquisition Cost: “The One Thing That Can Determine Your Company's Future” - Floyd Baker
Calculating your Customer Acquisition Cost
The CAC is easy to calculate: It's a company's total marketing and sales costs divided by the number of newly acquired customers in the same period. If a company spent $1,000 on marketing and acquired 10 new customers, its CAC would be $100.
Marketing + Sales
Newly acquired customers
What is a good Customer Acquisition Cost ratio?
A good reference point is to aim for the Customers Lifetime Value (the total net profit a company makes from any given customer) to be three times the CAC (i.e. have a 3:1 ratio). If the ratio is closer to 1:1, you are spending too much on marketing and may need to re-evaluate your target market or adjust your product and service offerings. If it's 5:1 you are spending too little, and in fact, probably significantly missing out on business and increased profitability.
Why is Customer Acquisition Cost important?
CAC allows businesses to directly correlate the value of each newly acquired customer and to calculate the resulting ROI of an acquisition. Ultimately allowing you to maximize the profitability of your business with effective advertising!