Summit Promotion #3

For most of the last 15 years my work has focussed on advertising.

Before that from the mid 90’s to the early 2000’s I did other forms of advertising for my own and others businesses.

So you could say I am an advocate.

I think advertising is the difference between coasting across a lake, hoping to get to the other side, and strapping a big motor to the back and zooming accross.

One gets you there eventually with a strong wind and a fair tide.

The other gets you there when you turn on the engine and point it in the right direction.

But of course there is a cost.

And you need to make sure your numbers work first. As some advocates say…

“You gotta do the funnel math”

So, this time round we’ll be covering Summit Marketing #3 - Advertising.

Maths

I’m british, so from hence force we will refer to math as maths.

(It’s a small thing but I’ve already conceded so much in terms of our glorious mother tongue)

The first question is…

… Can you afford to advertise?

There are a few considerations and this newsletter post isn’t delving into them all but the most important part is can you expect to get a return on your investment either now or at a later time.

That means figuring out if there is a limit to what a customer will spend with you and whether you can wait long enough to see that return.

For example, if you pay £5 to get a customer through ads can you get £5 back right away or do you have to wait. If you do need to wait, can you afford to.

Some of the best marketers in the world know they can wait and can therefore beat their competitors.

It drives me bonkers when marketers talk about how much revenue they make and don’t talk about their costs in terms of how much it costs them to acquire a customer.

So in basic terms.

My product line up is:

• Free Summit Ticket

• Upgrade to a $67 or a $97 ticket

• Some affiliate deals after they buy

• A $97 course after the summit

• A $597 group program after the summit

So my front end offer is the upgraded ticket which will neutralise the ad costs and hopefully some profit and then some profit on top for those who buy.

From the last summit I know this.

25% of traffic Registered
15% of registrants buy

So if it costs me $10 per registration and I get 100 that’s $1000 and I know 15 will buy that’s $1005 at the $67 level.

A $5 profit.

Or I’ve been paid to acquire a customer.

The next metric I need therefore is how much they’ll buy after the summit.

If I can get 1 in 15 to buy the $597 then I have a knock out campaign.

Obviously I need to monitor this so it doesn’t get out of control as costs can rise in ads, conversion rates can plummet.

But essentially, it answers the question.

Can I afford to advertise.

On these numbers, yes.

What’s the budget?

In the years I’ve been advertising, I always shirk this question. The reason if you’ve read the previous parapgraphs should be obvious.

If I can acquire a paying customer (who has the potential to buy more at a later date) for a very small profit then my budget in theory should be unlimited.

I’ll skate over the Total Addressable Market concept and all that, but seeing as my target audience is digital marketers, copywriters and consultants, I am confident I won’t run out of people to advertise to.

Different story if my market was Pygmy Horse Breeders.

What’s my campaign look like?

Very good question…

… I have some decent creative with some video from the summit talks. However, some of the speakers, rightly, are concerned about brand confusion. So I am leaning towards a simple conversion ad campaign with my own video and images.

• Conversion Facebook Ad to Summit Reg to Upsell funnel.

• Video reel ad with Manychat keyword comment to reg page

• Target by location and job title, saas services or relevant pages (testing a few ad sets)

• Start with £5 per day per ad set and raise over time.

• Test and measure and iterate the ads

That’s it for the ads really.

I may push it in YouTube, but just send any video there organically, possibly give it a boost. But I am short on time and I just want a simple ad set up as above.

One I have set up thousands of times.

I will track the ads with UTM tracking so I know what ad was working and I will have a full report back to you when I see the results.

I did invest in Laurel Portie training and I will implement some of the lessons there in terms of boosting some posts, but I think I don’t have the time to get traction for that for thos event.

Aaaanyway.

That’s it for this post.

In summary.

Do the funnel maths to make sure ads will work for you
Choose an ad strategy
Go for it!

Tim

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