This is true for service businesses as well.
The secret every large consumer company on earth knows, but us Ecom idiots keep forgetting:
The easiest place to find revenue is in your customer base.
We all spend too much time on acquisition and not enough on retention
“Steal this gruns landing page!
Use comforts affilate hacks!
Rip this ad from mars men!”
All those brands are great.
But they are great because they have LTV.
Gruns is secretly world class at retention and churn busting.
That’s why they are worth 2 billion dollars.
Their paid game is great for sure
But they are only able to scale because of the value of the cohort
Lesson:
Get better at email, sms, post purchase, and new products.
Spend 10% of the time you do on ads on email.
It’s a simpler game, less levers, but will take you from 5 million to 50 million a year
(Because it unlocks higher cacs you idiot)
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