Inside the Spa Business takes you on a journey beyond the aromatherapy oils and plush linens, into a world of business realities. Each week, we'll bring you information, advice and insights on every aspect of the spa and wellness industry. Whether you want to learn about spa & wellness business models, hotel and spa management courses, spa therapist education, training and recruitment, skincare products and their place in spas, wellness trends, spa and wellness industry research, spa conferences and events, marketing ideas and solutions for your spa and wellness business or simply sourcing spa equipment and supplies, this is the podcast for you. Join us on our mission to Fight the Fluff! #FightTheFluff!
CAC (Cost of Acquiring a Customer) & LTV (Life Time Value) are metrics I spoke about back in Ep. 590.
Referral Programs make sense for Spa businesses, but I don't see such programs in place very often.
But what happens when you view your Referral Program through the lens of CAC & LTV
Well, you might just decide to double-down on your Referral Program and make it a major part of your marketing strategy.
#customeracquisition #lifetimevalue #LTV #CAC