Target Market
Imagine you’re throwing a birthday party. You wouldn’t invite every single person you’ve ever met, right? You’d invite your close friends and family—the people who know you, like the same things, and will be excited to celebrate with you. Running a business is a lot like that party. You can’t talk to everyone in the world. It’s too exhausting, too expensive, and most people just won’t be interested. Instead, you need to find your business’s “best friends”—the group of people who will love what you do the most. This group has a special name: your Target Market. Chapter 1: So, What Exactly IS a Target Market? In simple words: A Target Market is a specific group of people who are most likely to want to buy your product or service. Think of it as drawing a circle around your perfect customers. The better you can draw this circle, the easier it is to…
CAC- Customer Acquisition Cost
CAC Have you ever tried to sell lemonade at a stand? You need lemons, sugar, and cups. You have to buy those things before you can sell even one glass. In the big world of businesses, like the apps on your phone or the websites you visit, they have a special cost too. It’s not for lemons, but for customers. This cost has a special name: CAC. CAC stands for Customer Acquisition Cost. That’s a big, fancy phrase, so let’s break it down like a puzzle. Customer: A person who buys something from you. Acquisition: A big word that just means “to get” or “to win.” Cost: How much money you spend. So, CAC is simply: “How much money does a company spend to get one new customer to buy something?” Think of it like a game. The prize is a new customer. The money you spend on advertising, special offers, and salespeople are your “game tokens.” CAC…