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Here’s the right approach to spending $1,000 when it comes to your internet marketing efforts.
If you have $1,000 and you want to spend it on your landing page or your website, what’s the right approach when it comes to spending these paid advertising dollars?
I’m going to share with you these thoughts and insights in this post.
Promoting Landing Page
Let’s say you want to promote your landing page, and here’s your landing page. And then towards the bottom, you have your sales offer where people do the checkout, and you make money.
And then you continue, and it might do something towards an upsell. If you’re trying to promote this and you have $1,000, there’s a lot of different places and sources that you could use your money.
Here’s what you have when it comes to options:
- Google Ads
There are so many different ways that you could approach this concept. And within every single one of these, there are various strategies that you could do.
If I take YouTube, there are probably hundreds of different strategies and methods. Do Facebook video promote it to the group. There are so many different segments of advertising that you could ultimately go through.
And it becomes very confusing about what really to do and take. But what I want you to think about your capital allocation. That’s probably the biggest thing.
If you’ve got this $1,000, I want you to think about how you are allocating it. The first part is to do the test. And the second part is doing the actual run.
It’s just like an actor in a movie. You’re doing a test run with the script. And then you do the actual filming. That’s what I want you to do – do the test.
Testing is Crucial
If you’ve got $1,000, you allocate maybe $250 for this test. And think of this as like blow money. This is like you’re not going to see the return. More than likely, you’re not going to get much back out of it or any sales.
But then the rest of that money, $750 you use to try and make things convert and make money from it. Some people might want to do a test of $500 to make sure my test is perfect.
And then I’ll use the rest for $500 to make to see the sales. It just depends on you how much you want to do the testing. That’s because if you’re going to advertise again in the future, sometimes it’s better to run a larger test.
Here’s the way that you run this test. Pick a segment. Let’s say I want to advertise on YouTube or Facebook or Instagram. And now, you could test different segments.
Let’s say I’m advertising on YouTube segments. I might do $100 towards advertising a certain category. Another $100 towards another category. And another $100 with another category.
It could be based on categories, people, niches. It could be based on different videos. You might test one video. You’re doing these different tests and segments to see and figure out what’s working and what’s not working.
And if it’s not working, then you move on scratch that one and which ones performing better then that’s the one winner that you should use. Let’s say the second video is your winner.
This you put that back into your main money-making machine to put and pump out into your landing pages. But if you got $1,000 and you put $20 in each or split it all evenly, you don’t know what’s going to work.
What you need to do is figure out how much money you want to allocate towards the test. And probably some of its going to be garbage. And then, in the end, the rest of it when you see the results you fine-tune it.
Focusing on the Results
It’s like YouTube videos. Let’s say I make a YouTube video, and I have ten videos on YouTube. Some videos might have 75, 36 views. Another one might have 136 views. Well, that’s a bit of an outlier.
Maybe the 36 views and 136 views are outliers. That’s because one is a little low and one’s a bit high. Ask yourself what you’re doing right in the upper one and what you are doing wrong in the lower one.
You’re evaluating where’s a spike, and you have to see those subtle differences, especially when you’re dealing with a small number. It can mean a big difference because you’re dealing with a thousand dollars.
If you had unlimited money, then you put in $20,000 here and $50,000 there, and then you’re not worried about it. But if you’re trying to optimize and maximize the money that you have to put it back into your cash flow machine, you need to do a test.
And it could be with just YouTube. It could be I’m doing the same test with Facebook, Instagram, Pinterest and YouTube, and Google Ads. And then you see which one works better for you or your audience. And then run it back through the cycle.
I hope this gives you thoughts regarding what to do with your cash flow and your money when it comes to paid advertising.
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