Mar 11
17
Grow Your Business Wisely While Having Fun
The great marketing genius Gary Halbert once told me that I am not in the Marketing business but instead is in the Math Business. That was one thing I didn’t get until 6 years later did I realize he was right.
If you are a new online marketer, you will find these things I will share with you easy and a lot more fun to deal with. Marketing Math is not that complicated, you only have to understand it better to grasp what needs to be done and how you can master it.
We are talking here about DPL or Dollar Per Lead. Dollar per lead is a simple pattern to know how much a lead is worth to your business. Divide your dollar by the number of leads you have, and that’s precisely how dollar per lead is computed. Compared to Lifetime Customer Value, you can know your DPL faster. In 30 days or more, you have the chance of already knowing how worthy your leads are while it takes for you years to know your LCV.
But the question here is how important these information is for your business and how can you improve your business with all these relevant information. There are two situations where you can use these information to your advantage.
- Enrolling Joint Venture Partners – This only means sharing your DPL with an identified joint venture partner in order to access to his customers as well as enjoining him to follow you and eventually create more conversions to your site.
- Purchasing Traffic – To get more traffic, you need to find ways in order to make them come to you. In this case, buying traffic by means of paying a dollar for advertising if you know it is effective enough to add you 5$ sure does makes sense. Knowing your DPL makes you decide on such matters knowing you will be largely rewarded after having to invest some money on banner advertising and even getting your business marketed offline.
Finding your DPL though, is not that easy, you have to wait and determine your sales funnel. If you have a front-end of 39$ with an upsell of 97$, you have other offers and an in-bound agency which sells a 1000$ coaching program, these data determines how your online marketing campaign is effective to your business.
This may take you at least 60 days to finally determine how this tactic works but as stated, this is better than having to wait a year or more to get to your LCV.
Not all traffic though is good. But knowing your DPL is a good baseline in knowing how you can make more money by trying to convert traffic to your advantage.
If you have to pay 20$ to a 4$ sales, you are definitely in a negative state, but do not fret because it takes a while to make things work to what you are aiming at. Investment does not return in a snap, you have to work for it. But with having your DPL known, you can already compute how much you have to spend and how much you will earn in different situations. You can also enjoy doing the maths for they mean money!