A range of metrics can impact your marketing strategy and how you run your business (and we have done a few blog posts on this topic), but few metrics are underestimated and underutilized as much as cost per acquisition.
Cost per acquisition (CPA) is how much your business spends, on average, to acquire a customer. When you define this metric, you can use it to optimize multiple facets of your business. If you run your business without knowing your CPA, you might be missing significant revenue and growth opportunities.
Before we get there, let’s talk about how to calculate CPA.