Spend $1 to Make $2 – The Holy Grail of Internet Marketing
The goal of any internet marketer should be to have a system in place, where you spend $1 in advertising and that brings you in more than $1 in revenue. Obviously, you have other business costs other than just your advertising budget, so your break even will be significantly higher than $1. Which is why most consider spend $1, make $2, to be the true Holy Grail of Internet Marketing.
It’s what enables so many internet marketers, who aren’t huge companies, to spend literally hundreds of thousands of dollars per month on advertising. Many of them are not super rich or independently wealthy. They just know that each dollar they spend, brings in a positive return. So why not spend more?
How Can You Achieve This – Step by Step
I’m going to try to keep this article relatively short, as I don’t want to get too philosophical here.
It’s really about having a solid plan of action in place to systematically get you where you want to be. So, you have to know, unequivocally, where you want to be. No plan = No results.
I want to focus here specifically on advertising budget. This assumes you have a marketing system in place to process leads and automate the sales process, to offer value to your leads, once they are in your system. If you don’t, start there, and familiarize yourself with all the tools available to help with that.
Now when we are talking about our online marketing, we need to have 3 Goals in mind. First to cover out marketing costs. Second, to earn enough to cover out living expenses at our current standard of living. And then our third goal is to earn enough to achieve true freedom, to be able to do what we want, when we want.
So when analyzing your advertising costs, keep those goals in mind. It really comes down to ongoing analyzation and optimization of your promotions. Constantly seek to improve how effectively you are reaching your target market.
Make sure you understand you audience’s needs and are providing them value. This means you need to have the right mix Marketing vs Promotion, and know the difference between the two.
I provide value through Intent Based Branding, but there are lots of other ways to do it as well. Once you figure out how to solve the problems your audience has, and consistently provide value to do so, you are well on your way to achieving the holy grail of internet marketing. Where you can ramp up your budget to achieve not only goals one and two, but also that true freedom as well.
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