Targeting multi-location franchises reduced customer acquisition costs to $300
Steve Cody · 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How? · Apr 1, 2020 · at 15:48
Steve Cody explains how ICP refinement toward multi-location franchises significantly decreased acquisition costs and reduced churn.
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“When we kind of dug into it, what we found is any customer that had more than three employees did more than 350,000 dollars a year, had more than one location or had to manage inventory. They didn't turn as much. So we were able to take that and drive the CAC. I think it was from, I'm just Remember what? 1200 dollars down to around, it was in the low 300.”
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