I guess we need a comparison here....at least I do. And then you can all tell me I'm nuts' when I'm buying this in the teens and at $10.
Ameritrade just released it's results on it's last quarter. They spent 24.9 million dollars last Q to get 51,000 new accounts.
This interests me because I'm interested in e-Commerce. 51,000 customers for an expenditure of 24.9 million, or $488 in advertising to draw in a new customer[24,900,000/51,000].
On the other hand Checkfree picked up 200,000 customers, and their total expenditure was 7.883 Million, or $39.41 in sales, marketing & royalties to draw in a new customer[7,883,000/200,000].
However they are not spending money to advertise the service, they are letting the Banks set the pace. So what is the net difference Q to Q in sales, marketing & royalties?
In September Checkfree spent 7.426 Million for sales, marketing & royalites. on 2 Million Customers.
So what was the increase Q to Q? 7.883-7.426 = .457 Milllion
In my mind they picked up 200,000 customers for $457,000 increase over and above what it cost the previous quarter, or what $2.29 for each additional 'new customer'?
In any case, however you figure it....Ameritrade spent 4x as much for 1/4 the new customers. Speaks highly of providing the best backend service to Banks & Billers and let them do the marketing, because it is in their best interest to do so.
Looking foward to a fricken explosion in customers as this billing thing moves from concept to reality.
All In My Honest Opinion. |
