280: Jeff Lerner, Starting a business from scratch
The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving
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Are You Seeing That Synergy Effect?
We spend conservatively 2 million plus a month on digital ads right now, at a run rate. And I think that will probably double in the next 12 months. Now going back to some of the numbers, you roughly 200,000 customers signed in at an average acquisition cost of $100, that's $20 million of ad spending. By the time we were at our 200,000 customer, we were probably spending over $200 per acquisition. It's getting progressively more expensive as you get against established companies with bigger budgets. We went from like a hundred thousand dollar a month company to like four million dollars a month company in like 18 months.
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