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2: Investing in Marketing The Right Way

investinginmarketingep2

 

In this episode David talks about the assumptions you are making in your business and how it is important to test those assumptions to see if they hold. What is the actual value of a visitor to your website? How do different keywords impact conversion? Should you invest in Facebook Ads or Google Ads? Should you invest in advertising in the first place.

 

David also lays out the foundations and mindset needed to approach digital advertising. How to actually think about marketing like an investment ?

 

 

  • The importance of maintaining an open mind ([00:38])
  • What assumptions are you making about your business ([02:58])
  • The importance of testing your assumptions ([04:50])
  • An example of how to test an assumptions ([05:58])
  • Why you need a healthy budget to know if a strategy is going to work ([09:53])
  • How mush do you really need to spend to get customers ([10:23])
  • Why you have to test and measure to see if your marketing is working([11:21])
  • Methods that you can use if you have a limited marketing budget ([12:57])
  • A strategy for working out how much money to invest in your marketing campaign ([14:39])
  • The importance of running a campaign long enough to get real, useable data ([16:16])
  • Working out how much money to spend on generating visitors to you site in order to determine if a marketing strategy is working ([17:13])
  • What are you actually willing to spend to get a customer ([19:17])
  • If google tells you the average click in your industry is $10 and your calculations say you can spend $3 per visitor, should you invest in google? ([20:47])
  • Are your budgets realistic? ([21:50])
  • David’s’ framework for deciding whether to invest in a particular marketing strategy ([22:48])
  • The majority of failure’s in digital marketing are mismanaged expectations and lack of clarity ([23:14])
  • The mentality you need to have in order to have successful investment in marketing([23:49])
  • How failure is part of success ([24:58])
  • The importance of a clear plan and the discipline to stick to it ([25:15])
  • How the beginning of a plan will not be profitable ([26:24])
  • Not all strategies will be right for you ([28:09])
  • The second most important thing that is key to understanding in digital marketing ([28:32])
  • The problem with mismanaged expectations ([30:00])

About the author, David

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