How do you calculate a budget for your advertising spend? Today on the “Own It!” podcast I share with you how to do that.
In the Show…
Judith’s birthday was spoiled by excruciating back pain and Nicola forgetting it… The birthday, not the pain! Judith declined cake due to her low-carb way of eating, and got to relax and enjoy some time off over the three-day Bank Holiday instead. Nicola explains that she is struggling with her return to the UK which she is finding drizzly and grey on the South Coast, and missing Stoupa’s sunshine. Today’s show is recorded on Phoebe’s birthday and Nicola has given her something entirely unexpected. Fortunately there’s also a slap-up family celebration tonight at Wagamama in Brighton.
Client Challenge of the Week
How much of your business income should you set aside, beg, borrow and steal or reinvest in your advertising budget? Nicola walks us through the calculations – assuming you have an offer that converts and some money to spend on advertising in the first place. She shows listeners that a £2 return for every £1 invested is a good benchmark, but what’s a good click rate? Webinars, registrations, attendees, sales… how many of each do you need to achieve that £2 ROI for your product or service? And how much might you sell on the back end?