Month: July 2018

I wrote last week about the “King of Facebook ads” who went from $4,000 profit per day to the poor house — almost overnight.

Poor Guy put all his eggs in one basket (Facebook). When Facebook changed the game, the eggs (and his business) went rotten. 

Poor Guy reminded me of a former client who removed email from his marketing mix when social media became the new “Big Thing.” 

The client was a consultant whose services started at $2,500 per month.

He figured the Big Thing was just the ticket to market those services. 

It wasn’t. 

Former Client’s story ends like Poor Guy’s — with a basket of rotten eggs. 

But their journeys were different.

Former Client never raked in $4,000 per day in profits from Facebook. In fact, he didn’t rake in anything. He didn’t close a single sale via his Facebook posts and ads.

That’s because Facebook alone can’t do it all for your marketing and sales funnel. — especially if you’re selling business-to-business services such as $2,500/month consulting. 

Facebook is great for building brand awareness and attracting leads. But if you want to close a $2,500/month sale, you have to nurture prospects with more than Facebook posts. 

That’s where email comes in. That’s where the telephone comes in. That’s where face-to-face meetings come in. 

Former Client’s story ends happily. He added email back to the mix.

He used Facebook to attract leads and drive them to landing pages where they opted-in for email.

He used email to nurture and educate prospects and to track who was most interested. 

He used the telephone to follow-up with qualified prospects and invite them to meet face-to-face. 

He closed sales in those face-to-face meetings. 

Lots of baskets. Lots of sales. 

Former Client used to post and pray. Post the promotion on Facebook. Pray that the phone rings with a prospect ready to buy. 

That’s a recipe for failure even if Facebook doesn’t change the rules. 

Former Client got on track when he recognized that marketing works when you employ multiple channels — using each for its best purpose. 

Tom
MarketVolt

p.s. Want to learn where to put the eggs? Want help managing those marketing baskets? MarketVolt’s experts can help you devise creative, smart strategies and tactics for your marketing campaigns. We can help you with planning, testing, tweaking, and measuring. We can show you how to do it, or we can do it for you. If you want to learn more, give me a call (314-529-1431 or email me). 

I came across a sad story on a marketing forum the other day about a guy who “went from millionaire to broke.”

Poor guy. Literally.

He described what happened: “I was the king of Facebook Ads in 2013-2016. I was making about $4,000 profit per day,” he said.

Then things went south.

“I consider myself an expert on FB advertising. But for some reason, nothing works profitably for me anymore.”

He speculates that Facebook may have flagged his account as “low quality advertiser.”

Could be. But when it comes to Facebook, Google and other online advertising services, no one knows for sure.

Poor Guy is not alone.

I know several people whose businesses tailed off or collapsed after putting all their marketing eggs in one basket — Facebook or Google or Instagram or some other can’t-miss advertising channel.

Several of them paid big bucks on courses to learn how to master the channel.

Then they were downgraded to “low quality advertiser” or the internet giant changed how it ranked their site or some other system they mastered suddenly changed without warning.

Don’t get me wrong. All of those marketing channels can be very effective under the right circumstances.

But as one wise fella noted in response to Poor Guy’s story, “If your entire business model depends on the policies of another single business you do not control, that’s not a sustainable model.”

Amen, brother.

That is reason enough to diversify your marketing channels. Don’t let the internet giant — Facebook, Google, etc. — pull the rug out from under your business.

But it’s not the only reason.

Tune in next Wednesday for another, even more important reason. 

Tom
MarketVolt

p.s. Want to learn where to put the eggs? Want help managing those marketing baskets? MarketVolt’s experts can help you devise creative, smart strategies and tactics for your marketing campaigns. We can help you with planning, testing, tweaking, and measuring. We can show you how to do it, or we can do it for you. If you want to learn more, give me a call (314-529-1431 or email me). 

A new prospect asked me to estimate the return on investment for an email marketing campaign he was considering.

“I don’t know enough about your business to answer,” I said.

He didn’t like that so he persisted.

He may as well have handed me a gas can and asked me to estimate his miles-per-gallon…

…without telling me what kind of car he drives.

“I’m flying blind here,” I said. “But I can tell you this: Some studies estimate email marketing returns $44 for every $1 spent.” (That’s a popular stat that lots of email marketing advocates toss around.)

He seemed pleased. I wasn’t.

I had to call it like I saw it: “But I think that’s a garbage stat.”

“A garbage stat?” he hissed.

Who’s on your list, qualified prospects or ice cold leads? The better your list, the higher your ROI.

What’s your process for closing sales? In many businesses, an email campaign may nurture a prospect, but salespeople still have to close the sale.

If you spend $1,000 for an email campaign, you might nurture 25 qualified prospects. What’s your ROI if you close one sale? Five sales? All 25? The more you close, the better your ROI.

How much much revenue do you earn from an average transaction? If you spend $1,000 on marketing and earn $44,000 in sales, your ROI would be 44 to 1. But I can’t estimate 44 to 1 when I don’t even know how you price your products.

I’ve seen email campaigns generate better than $44-to-$1 ROI. I’ve seen email campaigns generate 44 cents. I can’t tell you where you’ll land without knowing about your list, your sales process, your revenue model and other factors. Those who say they can are lying.

I wasn’t picking a fight. I was just trying to help him.

But now he was pissed. “Look,” he barked, “I can tell you exactly how much I spend on SEO each month. And I can tell you exactly how many sales I generate from the SEO each month. So I can tell you my ROI. That’s all I’m asking you to do.”

The guy’s co-worker chimed in: “Actually, we’re not sure which sales result from SEO and which come from other channels.”

The silence in the room was deafening.

The guy didn’t hire me to run his email campaigns. I’m not surprised. I’m not sad, either.

It’s no fun to anger a prospect. But my job is not to sugar-coat or to tell happy lies (i.e. “Your ROI will be 44-to-1.”)

My job is to help you succeed with your email campaigns.

Part of that job is to help you measure success.

If you want to know the ROI of your email campaign, I can help you.

It’s not rocket science. But it’s also not some number I’ll pull from thin air.

Tom
MarketVolt

p.s. I won’t promise 44-to-1 ROI, but I can promise this: MarketVolt’s experts can help you devise creative, smart strategies and tactics for your email campaigns that will improve your chances to maximize ROI. We can help you with planning, testing, tweaking, and measuring. We can show you how to do that. Or we can do it for you. If you want to learn more, give me a call (314-529-1431 or email me).