Chasing Cheap Leads Will Suffocate Your Business Growth. Here's Why..

In this podcast episode, host Dean Denny, discusses the misconception of pursuing cheap leads for business growth. He argues that cheap leads often result in low-quality leads, negatively impacting a company's direct response advertising efforts and brand reputation. He emphasizes that conversion rates and profitability suffer when focusing on cheap leads.

Instead, Dean suggests a different approach: focusing on increasing the lifetime value of customers and being willing to spend more to acquire high-quality customers. By optimizing the back end of the business and increasing revenue and profits, companies can dominate their industry. The key takeaway is that "he who can spend the most to acquire a customer wins."

Here's what you will learn:

1. Quality over quantity: Prioritize acquiring high-quality customers rather than chasing cheap leads.

2. Lifetime value of customers: Focus on increasing customer retention and loyalty to boost profitability.

3. Strategic customer acquisition: View customer acquisition as a long-term investment rather than a short-term expense.

4. Optimizing the back end: Improve customer service and product offerings to drive revenue and profits.

5. Brand reputation matters: Avoid pursuing cheap leads that could harm your brand reputation and long-term success.

Timestamps:

[00:01:40] - Avoid cheap leads: Will ruin your business.

[00:05:07] - Cheap leads can ruin conversion rates.

[00:07:33] - "Spend the most, win the customer"

[00:12:05] - Maximize customer lifetime value.

[00:13:45] - Cheap leads: bad reputation, bad conversions.

[00:14:51] - "He who spends most, wins."

CONNECT WITH US:

Connect with Dean Denny, host of Open Source Growth and Director at Owendenny Digital

• Instagram: ⁠⁠⁠https://www.instagram.com/deanowendenny/⁠⁠⁠
• LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/deandenny/⁠⁠⁠

Owendenny Digital, Australia's #1 SaaS Marketing Agency

• Instagram: ⁠⁠⁠https://www.instagram.com/owendennydigital/⁠⁠⁠
• Facebook: ⁠⁠⁠https://www.facebook.com/owendennydigital⁠⁠⁠
• LinkedIn: ⁠⁠⁠https://www.linkedin.com/company/owendenny/⁠⁠⁠
• YouTube: ⁠⁠⁠https://www.youtube.com/@owendennydigital⁠⁠⁠
• Website: ⁠⁠https://www.owendenny.com⁠⁠

WORK WITH OWENDENNY:

Two options:

1 - If you *already* know you need an expert to help you build predictable and scalable customer acquisition solutions to scale your MRR.

To get started, book a Free Growth Diagnostic using the link below and let us show you how we can help.

⁠⁠⁠⁠Get Your Free Growth Diagnostic⁠⁠⁠⁠



2 - If you *do not yet know* if you would benefit from our services, book a FREE 10-min chat with Dean directly and let's talk about your business.

⁠⁠Have a friendly 10-minute chat with Dean⁠⁠

We look forward to hearing from you! ⁠⁠⁠