A big part of being in business is being able to work out your ROI – Return On Investment.
It’s a fact that you’re going to have to market yourself in some way (and on a continuing basis) if you really want to be able to grow your biz.
Yet with so many options out there it’s tricky to know what to scale up (do more of) and what to scale back on (do less of)
That’s where ROI comes in.
If you can work out what your ROI then you know whether something is working for you or not.
Some PTs will rave about getting 10 new clients following a direct mail campaign.
When you work out the ROI, they might have spent £3,000 on the direct mail campaign and then got £4,000 back in client revenue.
This represents a 33% ROI so is good (in days gone by)
BUT
when I compare this to the recent 11,582% ROI that I got off a recent campaign it looks pretty poor.
You see, there are lots of different ways of advertising and marketing your services.
- Networking
- Referrals
- Leaflet drops
- Direct Mail
- Charity events
- Strategic Alliances
- Drop boxes
- Newspapers
- Magazines
- Email marketing
- Google Pay Per Click
…..to name just a few.
I chose to figure out what offered the best ROI and then scaled this one up
…you guessed it – Facebook Ads.
One of more recent campaigns involved me spending just £87 on ads and getting back £11,904!!!
Honestly nothing else can touch this (other than email marketing if you have a large enough list)
Word of caution: I’m not naive enough to put all my eggs in one basket. FB could change the rules any day. So I would still have other marketing funnels in place in case this happens.
Personally I like to use FB to also build my email list.
But I also build strategic alliances and do a lot of work with referrals to spread the risk a little bit.
Facebook marketing has really evolved over the last 6 months or so. There is a bit more science to it now compared to in the past.
I still speak to so many PTs that complain about FB advertising not working for them because they’ve attempted to boost a few posts direct from their page without doing any targeting or retargeting!!
With just a little bit of patience and by following a couple of tried and tested systems it’s the sort of thing that you can master very quickly.
This time right now is a ‘Gold Rush’ point in time.
Until FB change the rules, I’m going to take full advantage!
Ricky
ps. if you fancy taking advantage yourself then
click here to join the club
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