00:45 – Test And Measure
01:00 – What’s The ROI?
01:30 – All About The Formula
Hi, everybody. My name is Rick Otton from rickotton.co.uk. I was with my Go Direct mentoring students. We were talking about marketing, and what works and what doesn’t work. And one of the students was using some instruments that are working very, very well in the marketplace, and the other one was using instruments that weren’t working so well.
So, how do we quickly figure out, in our marketing, what works and what doesn’t work? That’s what this video is going to be about today.
Okay, everybody, so I’m with my students, and we’re talking about marketing, we’re talking about what works and what doesn’t work. And, at first, there was some second-guessing, until, eventually, I said, “We must test and measure, and we must know the numbers.”
Sometimes, changing a headline can have a dramatic response as to the amount of return you’re going to get, and it also lets you know what the return is on the investment that you’re spending.
One of the students made £10,000 out of an investment of £200, but, at first, he wasn’t prepared to go and spend the £200 to get a second £10,000 because he hadn’t done the numbers yet to realise that his marketing campaign had only cost him £200.
When it was brought to his attention that his marketing campaign had only cost him £200, he was very eager to spend another £200 in return for another £10,000.
Marketing in numbers all becomes formulas. Formulas say, if you spend so much money, and you track the numbers and the return cycle on that, therefore, the return on your investment, you’ll know what you should be doing and what you shouldn’t be doing. And we should always be testing and measuring.