Whenever I start with a new client,
And definitely with new students,
One of the most common questions is:
“How much should I spend on ads?”
By the way, no one ever says “budget”.
Not at the start at least.
That’s extraordinarily telling.
That appears to be a process and journey, in and of itself.
It’s certainly a valid question.
So today, we’re going to answer it in terms of
Where you are in your business journey,
Mostly through IF-THENS.
If you’ve already proven your offer,
Then your goal is to break even with advertising
As quickly as possible.
Then you can focus on increasing profit.
Your offer already sells,
So you want to test out lots of content,
Find out what targeting works consistently,
And how far you can scale and profit,
Within those boundaries.
Your budget is limited only by how much you want to push
Your profit margins.
Now, if you do not yet have a clearly proven offer,
And you’re looking for traction in sales,
Rather than scaling your proven offer,
Then consider these options:
If you’re just starting out, and have a very limited budget:
Then start out by spending $5/day on advertising,
Learn the ropes, and average up.
If you have any funds to work with,
Then decide based on
Your offers.
If you have an offer that costs over $500,
Then plan to spend twice as much
As the offer itself,
To find out how quickly you can break even.
If your initial offer is below $500,
Then you may need to spend more to find out
How quickly you can break even,
Before becoming profitable.
If you have a $200 offer,
Then you can spend up to $200 in order to break even,
Getting loads of info along the way.
However, if you have a $47 offer,
Then it may take you longer to crack that code,
Of finding out info about content and targeting,
As you break even with a lower costing product.
It’s all about managing breaking even and profit.
And let’s not forget – of all the additional factors –
The audience itself.
If you have affiliate or partner audiences,
Then you will naturally sell more quickly and easily,
Than with ice cold online audiences.
Those numbers have to take
All of that into account.
There’s no single answer of:
“Spend $500 in two months, and you’ll be successful.“
However, I’ve given you enough conditions,
For you to set the best expectations.
No matter what,
Start understanding the skills, the techniques,
And the rhythm of advertising.
Then it’s a simple tool you can use
To free yourself up faster later.
50 Weeks of Giving!
Children don’t have the luxury of figuring out money for themselves
That’s why it’s especially important to support the:
Young Center
The Young Center for Immigrants Children’s Rights
Supports immigrant children’s safety and opportunities.
Advocates come up with suitable solutions with the children for their needs.
They also conduct policy advocacy with Congress and federal agencies.
Support some of the neediest children here.
