The Clueless Business Owner - Marketing Class
Welcome to The Clueless Business Owner Classroom
Your go-to resource for practical business advice, marketing tips, and entrepreneurial inspiration.
Do you have a small service-based business? This podcast was especially created for you!
For the past 10 years I have been working with REALLY small businesses to help them double, triple, and quadrupel their revenue by properly leveraging the Internet.
I have had tremendous success as a marketing consultant but it has ALWAYS been my dream to teach.
As a consultant I can only work with so many businesses at once, but with a podcast I can reach and help so many more!
The consumer is using the Internet to find what you're selling. BOTTOM LINE.
If they don't find your business - you lose money.
The Internet can be very difficult to navigate. It's overwhelming, constantly changing, and scammers are a very real threat.
I want to teach you how to use the Internet to grow your business in a way that is practical and not overwhelming. I want to give you an education that will protect you from marketing scams.
Join me! Let's grow your business together.
The Clueless Business Owner - Marketing Class
Lesson 6: Customer Value & How Much to Spend on Ads
One of the most popular questions I get asked about Facebook & Google ads is how much should I spend to get results?
I want to help you to determine what is a good budget but I also want to educate you on how to think this through properly.
Determining how much to spend on advertising is NOT a guess.
There IS math involved.
In order to figure out how much you should spend on advertising there are a few questions that need to be answered.
In this episode I will go through a few business model examples to give you an idea on how much you should be spending in order to bring new customers effectively into your business.
Here are your 4 variables for advertising budget consideration we will be discussing:
- ATV: Average Transaction Value (Average Sale)
- ACV: Average Customer Value
- CLV: Customer Lifetime Value
- CPC: Cost Per Conversion
You may be thinking I have this ITTY BITTY business - this does not apply to me.
But OH it does! Not having this knowledge and mindset is how your business stays itty-bitty.