Cost of a New Customer

Industry analysts estimate the cost of acquisition to be over $400 per unit (this does not include current customer referrals)

• A typical Prospect Mailing is 10,000 pieces. Cost = $7500
  
  
• Assuming a .025% return on Prospecting Direct Mail = 25 appointments
  
  
• 40% close rate (50% is the standard, but sales to previous customers close at a much higher rate) = 10 people purchasing hearing aids
  
  
• Considering the industry average binaural rate of 70%, 10 people purchase two hearing aids
  
  
• Seven binaural purchasers equals 14 units plus three monaural purchasers = a total of 17 units
  
  
• $7500 divided by 17 units equals $441 marketing dollars per unit