The other day, Josh and I met with a very cool company that has some serious traction. They’re more than doubling revenue every quarter and will soon be on track for a million dollar run rate.
The only concern was that they didn’t know what their cost of customer acquisition was, nor did they which channels would be most effective, or how much they could acquire out of each channel. That makes it pretty tough to know how scalable the business is.
The good thing is that customer acquisition is a pretty easily testable thing. You can spend the next six weeks trying out a bunch of different channels and seeing what works, which is what we recommended. It’s not about the traction—it’s about the information that de-risks your business and increases it’s enterprise value. It’s a very different animal than an enterprise sales strategy.