How To Spend $100 to Make $200
Posted by Nathan Sloan in Advanced Marketing
If you would like to learn how to spend $100 to make $200 then read on my friend.
In this post I will be taking a complicated business strategy and making it super simple.
The secret to infinite wealth can be found in one word. “Advertising”.
The world is a wash with advertising. Newspapers, Magazines, TV, Online, Radio, Phone, Banners, Billboards, Tubes, Buses, People, Shops, Trade shows, Leaflets, Direct Mail, etc etc etc.
The reason so many people advertise comes down to ROI (return on investment).
It really is an ‘Art’. It is the art of spending $100 to make $200. Once you can do that then all you need to do is spend $500,000 and you will be generating $1 Million.
It doesn’t stop there.
Advertising when done right can create multiple returns. On a winning campaign you could be spending $100 and be making $500. This is when it gets very exciting.
“Most small business owners believe that they cannot afford marketing.
Response: Marketing is the greatest ROI activity you can do.” Jay Abraham
The rest of this post will give you some top tips on how to get the most from your advertising.
1. Advertising is just “Salesmanship in Print”
Advertising is just sales multiplied. Selling on paper is no different to selling in person. The same strategies should be used. The only difference is that it is more leveraged. You could go out and talk with 5000 people in one day. You can with advertising.
2. Always Test
Never ever EVER send out any form of paid advertising without testing your results. If you do not test then advertising is just an expense and it ceases to be an investment. This can be done with tracking links or coupons, but you must test.
3. Customer Based Focus
9/10 times, advertising money is wasted due to a selfish appeal. “Buy My Brand” is the focus. Always remember that your business is here to serve and make people lives better in some way. Use words like ‘you’ and ‘your’. People don’t care about your sales.
4. You Make Money When You Buy
80% of the time you can buy your advertising at a discount lower than the ‘Rate Card’. Whenever people give you a quote for advertising always ask for a better deal or a test rate. Similar to property, your profit is more assured depending on how well you buy.
5. Know Who Your Are Selling To
This really is a critical factor. Really take the time to know exactly who your ideal prospect is and write to that ONE person. Speak to them 1-1, because that is how they are going to be reading it. Personal and relevant is the key.
6. Be Specific
Being specific in your claims will make your ad 200x more effective. Instead of “Improve Your Sales” say “How To Double Your Sales in a Month”. Instead of “Make More Money” say “How To Spend $100 to Make $200″.
7. Your Headline
Your headline is about 80% of the importance in anything you write, including blog posts, emails, advertising etc. Two things that you want to use in your headlines to get a 400% better response rate are ‘Benefits’ and ‘Curiosity’. Use them both for maximum effect.
8. Call To Action
No matter what you are writing you should always include a call to action. First decide on what it is that you want your reader to do and then ask for that action at the end. A simple point however many business owners do not do this.
Questions or comments? Post them below.
Nathan Sloan
