Trading
10 Sep 2026
Most founders reach for acquisition when the real leak is upstream — in conversion, merchandising or offer. Here’s how to tell which problem you actually have.
"We just need more traffic" is the most common request I hear from founders, and it's usually wrong. More traffic on a leaky funnel just buys you a bigger leak, faster.
Before touching the media budget, look at three things: conversion rate against category benchmark, average order value trend over the last two quarters, and where the drop-off actually happens in the funnel. If conversion is below category norm, the problem is on-site — offer, merchandising, trust, speed — not acquisition.
The founders who fix this fastest are the ones willing to accept that the growth problem might be a product or trading problem wearing an acquisition costume. That's an uncomfortable thing to hear from your own numbers, but it's a much cheaper fix than another agency retainer.