“Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.” Ever heard that before? The quote comes from John Wanamaker, a U.S. businessman who worked in the late 1800s and early 1900s.

Digital advertising can be rough, but it still provides a unique connection to potential customers. The trick often comes down to understanding how much to spend and where. This isn’t the year 1900. In 2023, you should expect to understand not only which campaigns work, but how much you should spend on them to meet your business goals. To make efficient use of digital advertising, you need to answer the following key questions:

1. What are your growth and profitability goals?
2. What are your customers worth?
3. How do acquisitions scale with increased ad spend for each marketing channel?

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