Can you point me to a video that speaks to people just starting out with very little properties and revenue? Or maybe books, other pod casters. I've been listening to yours for a few weeks and enjoy them however the suggestions are mostly things I can not do at this time.
Hi Megan, we have a specific section for starting property management business on our Fourandhalf.com strategy blog: fourandhalf.com/start-property-management-company-blog-posts/
Customer Acquisition Costs (CAC) is the amount of money you spend to acquire a customer, while Annual Contract Value (ACV) is the amount of revenue that the customer generates in 1 year. So in the example that was discussed in the podcast, the "investment" or the cost to gain a single customer was $833.33, and the ROI of that investment is $2,000 over a single year. That's a pretty great ROI. And that's not even considering the fact that the average owner stays with their property management company for about 3-4 years. $2,000 x 4 = $8,000 -- So he was essentially spending $833.33 to acquire an owner and that owner gives $8,000 in revenue back over the course of 4 years. I hope this helps!
Thanks for the feedback, and we do apologize for that. You may have noticed that this podcast episode is from 6 years ago. We have corrected this issue in our more recent podcast episodes. You can subscribe to our channel to make sure you don't miss out on our latest episodes - www.youtube.com/@ThePropertyManagementShow
Can you point me to a video that speaks to people just starting out with very little properties and revenue? Or maybe books, other pod casters. I've been listening to yours for a few weeks and enjoy them however the suggestions are mostly things I can not do at this time.
Hi Megan, we have a specific section for starting property management business on our Fourandhalf.com strategy blog: fourandhalf.com/start-property-management-company-blog-posts/
What is the relationship between the CAC and ACV? They mentioned the CAC would be $833.33 where as the ACV is $2,000.
Customer Acquisition Costs (CAC) is the amount of money you spend to acquire a customer, while Annual Contract Value (ACV) is the amount of revenue that the customer generates in 1 year. So in the example that was discussed in the podcast, the "investment" or the cost to gain a single customer was $833.33, and the ROI of that investment is $2,000 over a single year. That's a pretty great ROI. And that's not even considering the fact that the average owner stays with their property management company for about 3-4 years. $2,000 x 4 = $8,000 -- So he was essentially spending $833.33 to acquire an owner and that owner gives $8,000 in revenue back over the course of 4 years. I hope this helps!
Music at the intro is way way to much, can't even head the intro talking
Thanks for the feedback, and we do apologize for that. You may have noticed that this podcast episode is from 6 years ago. We have corrected this issue in our more recent podcast episodes. You can subscribe to our channel to make sure you don't miss out on our latest episodes - www.youtube.com/@ThePropertyManagementShow