Your Marketing Coach Newsletter – June 19, 2023

June 19, 2023 

Hi there,
We’ve all heard the phrase, “It’s too good to be true”…

And unfortunately, we’ve all experienced how true this phrase really is.

A few years ago, a friend of mine and her family were in the market for a new car because their family had just moved. They decided to check out a local used car lot to find something that would get their family through that current season.

They found something they liked and that seemed to need minimal repairs needed on it, drove it for a test run, and decided to move forward with it.

It was not even a full 24 hours later that the trouble started.

A clunking in their car eventually revealed that there was a part that would need to be replaced which would cost them more than they had paid for the car!

To top it off, while my friend and her kids were driving around town, they discovered the dealer didn’t tighten the lugnuts on the tires all the way because the tires started to fall off!

Now, I’m not saying used cars are going to fall apart on you or that they aren’t worth it. I know of more good experiences than bad when it comes to used cars.

However, the lesson learned by this family was that this car and its price ended up being way too good to be true.

They learned that you get what you pay for… and unfortunately, they didn’t get much for what they paid for.

Today’s marketing idea is going to address this idea.

What are we willing to pay for in our business? Are we willing to pay to get more out of our business efforts?

Since we get what we pay for, we’re only going to get what we’re willing to pay for.

Let’s jump in!

We talk a lot about fun marketing ideas and most of them are organic marketing ideas that don’t require any money.
In fact, here are some of the ideas from over the last few months:
-Setting up a giveaway funnel to gain more leads
-Explaining something in a short video to your social media audience
-Creating a personalized mobile app for your customers and prospects to connect with you
-Writing copy –  a welcome sequence for your new customers or swipe copy for those who want to promote your business or products
There are all ideas that you can use – and hopefully did use – without any additional costs.
Which is a great thing to achieve!

But today, I want to look at these same ideas and imagine how much better they’d work for you if you also attached paid promotions to them!

For example:
-For our giveaway idea, you do need to at least spend some money to purchase the prize for the giveaway, but you can also spend money to promote your giveaway on social media.
-When you create a short video on social media, spend $5 a day to get it out to those who would be interested in what you’re teaching.
-You may be able to create a phone app for free, but imagine how much better it would be if you paid a company that is experienced in creating them and even hired a designer to make it look good.
-You can probably write your own copy as you know your business well, but there are copywriters out there who are trained and skilled in writing copy that will capture and engage your audience.
These powerful ideas, that worked great with no additional cost, are even more impactful when you back them up with a budget!

So my question to you is this:

How much can you spend to acquire customers?

As you can tell, today’s marketing idea taps into our mindset about our business and money because…
You need to be willing to spend money to acquire customers.

My encouragement to you today is to budget out what you can spend and then track what it’s actually costing you to acquire them.

This can then be compared to how much income you make from each new customer. If you have recurring income, you can look at not just their one-time purchases but the lifetime value of each customer.

You may find the cost is more than worth it!

Need some inspiration? 
We’re almost halfway through the year, the sun is feeling hotter, and we’re all feeling a bit… sluggish.

This would be the perfect time to share a quote that is keeping you going!

Your content prompt for this week is:

My favorite quote is: ________________________________________________________

I love this because you really don’t know what kind of quotes people are going to share with you. Some may share something motivational (or demotivational!), funny, inspiring, something from a TV show, or something their toddler said to them.

Enjoy reading what your audience shares and make sure to share yours too!
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Feel free to reply back and share your favorite quote with me too! I’d love to be inspired or get a good laugh!
Alex Branning
Branning Group
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