Ecommerce Marketing: This Is The Reason Your Business Is Not Growing.
Matt Stafford | Sep 28, 2021Reading Time: 2 minutes
Hey, guys. Tanner Larsson here.
And I want to kind of start this one off with a statement. And that is: You don’t have a business until you can afford to buy your customers.
Now, that’s a pretty bold statement. And it’s something that shocks a lot of people when I say it from stage, or in one of my presentations, or in a training product, or whatever. But, it’s the truth. OK?
So many companies are out there focused on “free traffic” and trying to get all the free publicity and everything else they can. Then they wonder why their company doesn’t grow, or why they struggle to pay their bills, or why they basically just struggle all around in business, and why business is so hard.
The reality is, the businesses that are kicking ass, thriving, growing, scaling, multiplying, and just doing excessively well … they buy their customers. If you can get that into your head and adjust your mindset to where you believe that the best way to acquire a customer is to buy that customer … everything changes.
What do I mean by “buy” a customer? Well, using paid media sources to acquire customers. Things like Facebook ads, media buys, email drops. Other things, like affiliate promotions. When you have an affiliate promote your product and they make a sale, you are effectively buying that customer from an affiliate.
The more money you’re able to spend to acquire that customer profitably, the better off you are. It doesn’t mean you have to spend the most money, but again, being able to acquire customers at higher and higher price points means that you’re going to be able to acquire traffic from multiple sources.
When you start leveraging paid media, there are different costs associated with it. There are different acquisition costs when you actually factor out how much it costs you to actually acquire a customer. If your business is designed in such a way that it maximizes the return on ad spend so that you can actually spend more money and turn that money over quickly back into more advertising to then acquire more customers … That’s how your company really grows. OK? Because you can acquire customers quickly.
The true ability for a company to grow and be successful comes down to being able to leverage paid traffic at break-even prices or better. You need to be able to leverage paid traffic, and that means being able to buy your customers. If your company can’t afford to buy customers, you don’t really have a company. You’ve got a little hobby or a sideline thing.
You need to be able to acquire customers effectively and profitably on an ongoing and ever-increasing basis so that you can scale your company effectively.
So, guys … think about that.
Are you able to buy customers? If you’re not, what can you do in your company to make it so that you are able to acquire customers and pay for them?
Alright. With that, guys, I’ll talk to you later.