Customer Acquisition: How Much Should You Spend?

In this clip Allison shows you the average cost of customer acquisition across multiple industries. You'll also learn a good rule-of-thumb to follow when determining if you're spending too much or too little on your acquisition efforts..

How much should you spend on customer acquisition?

It's not uncommon for new companies to spend as much as 20-30% on marketing and sales. However, the total amount you should spend to acquire customers varies widely from industry to industry.We've outlined the average costs of acquisition across a variety of industries below:

• Travel: $7

• Retail: $10

• Consumer Goods: $22

• Manufacturing: $83

• Transportation: $98

• Marketing Agency: $141

• Financial: $175

• Technology (Hardware): $182

• Real Estate: $213

• Banking/Insurance: $303

• Telecom: $315

• Technology (Software): $395

Now this is not to say that coming in under or over some of the numbers above are necessarily indicators of failure or success. Your customer acquisition costs will vary. Above all, it's important for your brand to consider how efficiently processes are running to determine how much you should spend on customer acquisition. Check out the rest of the eLearning series here.