Happy Thursday! Hope you’re doing well on your exams and hope you and your families are getting geared up to have a safe holiday season! 🦃🎄🤶🏼
🔥 Did you know that Tech Pod has a TikTok? We post about helpful career advice and resources several times a week. Help us hit 1000 followers by the end of 2020!
Word of the Week:
🦈 Any Shark Tank fans? On one episode, the founder of Beardaments tells the sharks that he made $462,000 in sales in its 3rd year. But the impressive thing was that he got his customers from 2 videos that went viral, which cost him $0 in marketing.
That’s not the norm—companies typically have to pay a whopping chunk of change 💰for marketing (ex. ad campaigns) to convince people to buy their product.
🔑 That cost that it takes a company to get 1 customer is called the Customer Acquisition Cost:
The lower the CAC, the better. Companies want to get as many customers as possible by spending the least amount of money they can. Learn more on CAC’s across industries, customer lifetime value (LTV), and what a good ratio should be.
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