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Rethinking Customer Acquisition Costs
How to Get New Customers to Finance Your Ability to Acquire New Customers: Rethinking Customer Acquisition Costs
Support this podcast at — https://redcircle.com/harmonious-at-lunch/exclusive-content
In this episode of Harmonious at Lunch, Brandon Gano speaks with Roger Martin, CEO of RockBox Fitness and Beem Light Sauna, about a unique approach to customer acquisition. They discuss how businesses can leverage their existing customer base to fund the acquisition of new customers.
Key takeaways:
- Traditional customer acquisition models often rely on recouping the cost of acquiring a customer over time through repeat business.
- This approach can be slow and limit growth, especially for small and mid-sized businesses.
- Roger Martin proposes an alternative strategy: price your products or services high enough so that the initial sale covers the cost of customer acquisition.
Benefits of this approach:
- Allows businesses to reinvest profits from new customers immediately into acquiring more customers, accelerating growth.
- Encourages businesses to focus on the value proposition and justify higher prices.
- Creates a sustainable model less reliant on repeat business.
Here are some of the conversation highlights:
- Roger criticizes the "loss leader" strategy where businesses attract customers with a low-priced initial offer and then attempt to recoup costs later.
- He argues that a strong lead magnet offering valuable free content is a more effective way to build trust and justify higher prices.
- Pricing based on competition is discouraged. Businesses should focus on the value they deliver and price accordingly.
- The RockBox Fitness example is used to illustrate the difference between a high-value, high-touch service model and a low-cost, low-touch model.
Roger Martin's contact information:
- Website: https://realrogermartin.com/
- Facebook: https://www.rockboxfitness.com/blog/category/in-the-news/roger-martin-have-an-honest-conversation-with-yo/
- YouTube: [invalid URL removed]
- Instagram: https://www.instagram.com/rogermartinmusic/
- LinkedIn: https://www.rockboxfitness.com/blog/category/in-the-news/roger-martin-have-an-honest-conversation-with-yo/
- TikTok: https://www.tiktok.com/@andrea_piraz/video/7164072981658897670
Call to action:
- Like and subscribe to the Harmonious at Lunch podcast.
- Visit Roger Martin's website to learn more about his approach to business growth.
I hope this transcript is helpful!
Thank you to our Sponsors!
Make your business checking account make money for you!
Are you ready to transform your business banking? Meet Meow, the future of business finances. With Meow, you get high-yield business checking accounts with up to 5.02% APY, no hidden fees, and the flexibility of one-day withdrawals. Invest your idle cash in U.S. Treasury Bills seamlessly and watch your funds grow. Supported by top investors, Meow is the smart choice for modern businesses.
Visit meow.com/https://app.meow.co/signup?referral=BrandonGano and sign up here today to maximize your business's financial potential with Meow!
Take your podcasting journey to the next level!
Are you a podcaster looking for your next great guest, or a guest searching for the perfect podcast to share your story? Podmatch is your solution! This innovative platform intelligently matches podcast hosts and guests, making it easier than ever to find the ideal collaboration. Streamline your booking process and grow your audience with Podmatch. Join now and elevate your podcasting game!
Ready to find your perfect match? Visit https://www.joinpodmatch.com/harmonious today!
Boost Your Sales with FlowChat!Are you looking to supercharge your lead generation? FlowChat is here to help! This powerful tool lets you import leads from social media instantly and manage hundreds of conversations seamlessly. With FlowChat, you can add more leads in less time and prevent prospects from slipping through the cracks. Join the many successful businesses that have seen their sales soar using FlowChat.
Ready to take your business to the next level? Visit https://fwc.li/af2731bp and start building your leads today!
Check out Our Friends at HumanOp! ~~
https://humanop.com
Support this podcast at — https://redcircle.com/harmonious-at-lunch/exclusive-content
View all episodes
By HumanOp TechnologiesHow to Get New Customers to Finance Your Ability to Acquire New Customers: Rethinking Customer Acquisition Costs
Support this podcast at — https://redcircle.com/harmonious-at-lunch/exclusive-content
In this episode of Harmonious at Lunch, Brandon Gano speaks with Roger Martin, CEO of RockBox Fitness and Beem Light Sauna, about a unique approach to customer acquisition. They discuss how businesses can leverage their existing customer base to fund the acquisition of new customers.
Key takeaways:
- Traditional customer acquisition models often rely on recouping the cost of acquiring a customer over time through repeat business.
- This approach can be slow and limit growth, especially for small and mid-sized businesses.
- Roger Martin proposes an alternative strategy: price your products or services high enough so that the initial sale covers the cost of customer acquisition.
Benefits of this approach:
- Allows businesses to reinvest profits from new customers immediately into acquiring more customers, accelerating growth.
- Encourages businesses to focus on the value proposition and justify higher prices.
- Creates a sustainable model less reliant on repeat business.
Here are some of the conversation highlights:
- Roger criticizes the "loss leader" strategy where businesses attract customers with a low-priced initial offer and then attempt to recoup costs later.
- He argues that a strong lead magnet offering valuable free content is a more effective way to build trust and justify higher prices.
- Pricing based on competition is discouraged. Businesses should focus on the value they deliver and price accordingly.
- The RockBox Fitness example is used to illustrate the difference between a high-value, high-touch service model and a low-cost, low-touch model.
Roger Martin's contact information:
- Website: https://realrogermartin.com/
- Facebook: https://www.rockboxfitness.com/blog/category/in-the-news/roger-martin-have-an-honest-conversation-with-yo/
- YouTube: [invalid URL removed]
- Instagram: https://www.instagram.com/rogermartinmusic/
- LinkedIn: https://www.rockboxfitness.com/blog/category/in-the-news/roger-martin-have-an-honest-conversation-with-yo/
- TikTok: https://www.tiktok.com/@andrea_piraz/video/7164072981658897670
Call to action:
- Like and subscribe to the Harmonious at Lunch podcast.
- Visit Roger Martin's website to learn more about his approach to business growth.
I hope this transcript is helpful!
Thank you to our Sponsors!
Make your business checking account make money for you!
Are you ready to transform your business banking? Meet Meow, the future of business finances. With Meow, you get high-yield business checking accounts with up to 5.02% APY, no hidden fees, and the flexibility of one-day withdrawals. Invest your idle cash in U.S. Treasury Bills seamlessly and watch your funds grow. Supported by top investors, Meow is the smart choice for modern businesses.
Visit meow.com/https://app.meow.co/signup?referral=BrandonGano and sign up here today to maximize your business's financial potential with Meow!
Take your podcasting journey to the next level!
Are you a podcaster looking for your next great guest, or a guest searching for the perfect podcast to share your story? Podmatch is your solution! This innovative platform intelligently matches podcast hosts and guests, making it easier than ever to find the ideal collaboration. Streamline your booking process and grow your audience with Podmatch. Join now and elevate your podcasting game!
Ready to find your perfect match? Visit https://www.joinpodmatch.com/harmonious today!
Boost Your Sales with FlowChat!Are you looking to supercharge your lead generation? FlowChat is here to help! This powerful tool lets you import leads from social media instantly and manage hundreds of conversations seamlessly. With FlowChat, you can add more leads in less time and prevent prospects from slipping through the cracks. Join the many successful businesses that have seen their sales soar using FlowChat.
Ready to take your business to the next level? Visit https://fwc.li/af2731bp and start building your leads today!
Check out Our Friends at HumanOp! ~~
https://humanop.com
Support this podcast at — https://redcircle.com/harmonious-at-lunch/exclusive-content