Armand Thiberge

It's a marginal CAC.

So the average CAC is much, much more.

When I say marginal CAC, it's a calculation you can do only if you have a business with a lot of clients.

And we are trying to see how much it costs you to bring one additional customer in your database and how much the maximum you want to pay for one customer.

It's not an average.

It's maximum.

If someone tomorrow proposes me a new customer for like $800, I will say no.

Because look at two companies with the same CAC.

If one company is having 90% of their customers, which are free... But that's not a customer, though.

free, which means it doesn't pay to acquire those customers.

If we look at our acquisition, most of our acquisition, it's a word of mouth, and it means we don't pay for those customers.

Oh, I see, I see, I see.

The percentage of the customer.

And, of course, it's much more scalable when you have a pure sales-oriented team, then you can just add sales, and it will scale as...

Our...

our CAC is three times lesser, two to three times lesser than the marginal CAC.

The marginal CAC is the maximum cost we can offer to our client.

It's a very operational KPI we follow and we say, okay, what is the maximum price?

Yeah, Armand, sorry, I don't mean to cut you off.

It's different, which is very different than the average because the average, you count a lot of customers which are paying and which are free.