🤖🚀 How to lower your CAC (the 4 areas to focus on)

Read time: 4 mins…

Welcome back folks 🫡

This week’s Hyper Growth Blueprint covers:

• 🤝 Network = Net worth?

• 💰 How to lower your CAC (the 4 areas to focus on)

• 🤖 Mega-Prompt of the Week: How to Grow your Network

Let’s go… 👇

This week I was reminded of the value of networking.

I met this guy a few weeks ago in Las Vegas…👇

His name is Usman. It turned out he was from London as well.

He specialises in Sales.

I specialise in generating Leads.

We realised we could both help each other.

So this Saturday he came over to my HQ and we spent the morning together.

Usman spent 90 minutes teaching me about sales, how to build a sales team, hire & train them, and set KPI’s.

I then returned the favour & spent 90 minutes teaching him how to run ads & generate leads.

The outcome was awesome.

In the span of 3-hours we had each condensed our near decade long experience into a mini-masterclass for the other person.

It reinforced to me a powerful idea…

So big shout out to Usman 👊

Anyway time for the juicy stuff…👇

How to lower your
customer acquisition cost (CAC)

One of the best ways to grow a business is to get more customers.

A simple way to do this is to reduce how much it costs you to get a customer.

Fundamentally, there are 4 ways we do this:

1. Advertising

2. Engaging

3. Qualifying

4. Closing

Let’s explore them…👇

1. Advertising

Better adverts will get better responses.

The key levers for decreasing CAC here are:

a) Ad Creative & Messaging 

Your ad creative & copy need to be dialled in.

They also need to stand out in an increasingly saturated world.

Test as many new creative variants as you can.

I’m a big fan of testing high volume (50+ ads) with a small budget (£250ish min.)…

…and then using the CPMs, CPC’s and CTR’s as our main indicators.

b) Targeting

Specific and highly relevant ads will always win over generic ones.

Craft specific ad creative messaging that appeals directly to your target customers.

The AI in the ad platforms will use your creative to identify who your customers are… so you must make sure they are aligned with them.

c) Offer

Perhaps the biggest factor.

The offer in the ad needs to be very compelling.

An amazing offer will even make average creative & targeting work.

2. Engaging

This is all about what happens after the click on the ad…

a) Landing Page Experience

Consistently measure, test, and refine your landing pages.

No amount of amazing ads can rescue a bad landing page.

Here’s how to keep it simple:

• Choose one element to test

• Update the landing page

• Wait 2 weeks

• Analyse the difference in CVR

• Keep or revert the change

• Repeat

b) Follow up messages

The moment someone opts in, their interest in what you do is at its highest.

It slowly decays over time.

The quicker you follow up, the higher the engagement rate.

We are utilising a lot of automated SMS right now to do this… and it’s working a treat.

3. Qualifying

Proper qualification ensures you're spending time with the right people.

The big lever here is Lead Capture.

Qualify leads early via forms or initial conversations.

Be ruthless in filtering leads that do not meet your Ideal Customer Profile (ICP).

4. Closing

Once you’re chatting with enough of the right people, the next biggest lever is your close rate.

A.K.A the number of people you speak to that end up buying.

• Have proper scripts that are monitored, trained, and refined consistently.

• Understand what parts of your offer are most appealing.

• Continually optimise your pitch based on this.

It's hard to consistently improve if you are just wingin’ it.

That’s all for this week - I hope you found it useful.

Take it easy,

Elliott ✌🏼

P.S. Are we connected on LinkedIn?

I post something everyday… find me here.

P.P.S. I enjoy writing this newsletter so much… I launched another one.

The Limitless Entrepreneur is a passion project where I write about optimising your health, energy, & productivity to build epic businesses so you can live an epic life.

It’s completely free. You can check it out here.

Mega-Prompt of the Week 🤖

Create a Plan to Grow Your Network

Networking can be awkward & painful.

Use this prompt to get some ideas on how to Network in the right way, so that you get in a room with people you can do business with or learn from.

(NB: All you have to do is refer 2 people to this newsletter using your special link below & you will unlock permanent lifetime access to this newsletter segment.)