How to Set a Ad Budget
How much should you spend on advertising? With all the advertising channels to choose from - Facebook, Instagram, Google, LinkedIn - what is a good starting ad budget?
In this video, I'll share a framework to help you come up with an appropriate starting ad budget for your next campaign in 2020.
Knowing how much you CAN spend on advertising to acquire a customer will give you a HUGE competitive advantage.
The 5 KEY questions you want to ask are:
- How much are you willing to pay to acquire a customer?
- What is the goal for your campaign?
- What are your average conversion rate and cost per lead?
- How many leads do you want each month for your business?
- What are other “hidden” marketing costs for running a successful campaign?