What is the purpose of business? Some business owners want to build a community. Others want to leave a lasting mark on this world. And others want to create generational wealth. All those things are compelling reasons to be in business, but the sole purpose of a business is to generate profit. Businesses need to make as much profit as possible while spending as little money as possible to be successful - and there is no better way to do that than through effective digital marketing. On today's episode, Ralph Burns talks about the sole purpose of a business and the role of digital marketing in driving the profitability of a business. IN THIS EPISODE, YOU'LL LEARN:00:00 Introduction00:30 What is the purpose of a business?01:24 Why businesses cannot exist without profitability03:09 3 proven ways to grow your business04:40 How to uncover your ideal customer avatar 06:08 Ways to increase customer's average order value08:05 How to acquire more customers from ice-cold traffic09:56 Customer Acquisition Costs and why it matters12:00 How much are you willing to pay for a new customer?LINKS AND RESOURCES MENTIONED IN THIS EPISODE:Tiereleven.comGet your queries answered here: hi@tiereleven.com