Most people, when they think about advertising, they see it as an expense. So they want their ads to be profitable.
Which means, when they run their ads, they want to get their money back almost immediately. Or, at least they want to break even.
That’s what I call an expense based approach to advertising. And it’s part of a scarcity mindset.
But there’s a much better way to go about your marketing: Instead of treating it as an expense, you should look at it as an investment.
The money you put into your marketing is your capital investment... with the sole purpose to grow a portfolio of prospects. Because you know that, eventually, those prospects are going to turn into new clients for you. And, if you’re able to get them results, they’ll keep coming back year after year.
Let me give you an example...
Say you have a beauty salon. And as part of your marketing, you’re offering a $100 gift card people can spend however they want.
Now, when somebody comes in for a haircut you normally charge say, $117… but the actual hard cost to you for a cut is only $15... When they use the $100 gift card to pay for that cut, you’re basically giving it away for free.
But here’s the thing. If you’re good at what you do, and your During Unit is a dream come true experience…
You’ve got an 80 plus percent chance that person is coming back again and again and again… bringing you say, $900 every year...
And all you had to do is to spend $15 on that person - once.
Now THAT is a great investment in my book ;)