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Home Business Leadership

Ask the Business Coach: How much of my revenue should I spend on marketing?

June 15, 2022
in Business, Features, Guernsey, Isle of Man, Jersey, Leadership
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Channel Eye has joined forces with Royston Guest, leading Business Growth Coach and CEO/Founder of Pathways Global, in our series, ‘Ask the Business Coach’

How much of my revenue should I spend on marketing is the wrong question. The right question is ‘what is a new customer worth to us?’.

Business Growth Pathways logoThe big three takeaways!

  1. Know the lifetime value of a customer
  2. Know the payback period of a new customer
  3. Know how much you’re prepared to pay to acquire a new customer

Episode timestamps

  • [1.17] When you understand the lifetime value of a customer and how much they are worth to you in years 1, 2, and beyond.
  • [2.35] When you understand the lifetime value, you can begin to determine the payback period of your acquisition costs.
  • [2.52] When you understand the lifetime value of a customer and know the payback period of your acquisition costs, only then can you think about what you are prepared to pay to acquire that new customer.

Do you have a question for the Business Coach?

Send your questions to askthebusinesscoach@channeleye.media


Missed a previous episode? Catch-up and watch the series here.

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Royston Guest

Click here to see all of Royston's articles and here to find out more about Royston and Pathways Global

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