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Paid ads are scary for a lot of entrepreneurs. They often decide to “test the waters” using a small ad budget. But this winds up being far more expensive than increasing your ad budget from the jump. 

Low ad budgets are the result of a scarcity mindset. A higher ad budget gets you the data you need fast.

In this episode, I discuss the 2 biggest mistakes business owners make that cause paid ads to fail (and how to fix them).

Highlights from this episode include:

  • How your emotions trap you into promoting terrible ads that don’t sell (1:20) 
  • Why setting low daily ad budgets costs you more than expensive ad budgets (1:52)
  • How to gather the cash-stacking data you need for your ads 901% faster so you can start making sales today (2:14)
  • Why getting a ton of leads from your ads is ruining your business (2:52) 

If you want to know how to get 50-100 leads for your coaching business every single day, head over to getdailyclients.com to grab our free Paid Ad Playbook, as well as some other great bonuses. 

Read Full Transcript

You're listening to “The School of Client Attraction.” Marquel Russell is the founder of Client Attraction University, a marketing consultancy helping you attract clients on autopilot and scale your business while working 50% less.

Quick disclaimer: a side effect of listening to the show is more clients, more profits, more freedom, and it's more impact in your business. Now, here's your host, Marquel Russell.

Marquel: I'm shooting this episode. I'm outside going for a quick walk before the weather changes up. It actually feels kind of good. I guess I’ve got short sleeves on. But, anyway, welcome to this brand new episode of the School Of Client Attraction. In this quick episode, I'm going to just kind of share with you the biggest mistake entrepreneurs make when it comes to paid advertising and that thing is making decisions without significant data, insufficient data. [00:55.3]

Let me explain what I mean. A lot of times people launch ads and, number one, they don't let them run long enough. We had this thing where we tell our clients in Client Attraction University that you have to have significant data. A lot of times people would run ads and they make emotion-based or -driven decisions and not data-driven decisions. We always tell our clients, look, bring the data and not the drama.

What do I mean by significant data? For example, when we tell individuals to launch their ads, we tell them, You have to let your ads run at least three to four days minimum. That's a bare minimum. Ideally you want to let them run for around five days, right? I mean, people ask us, How much should you spend per day? and we always say, The more you spend per day, the faster you can get data.

For example, some people will say, I'm going to start with $5 a day. Starting with $5 a day is fine. However, after five days, you’ve only got $25 worth of data and that's not enough. I mean, it's okay, but if you could start a little higher, you can get data faster. [01:58.7]

For example, let's say you spend $5 a day for 30 days. That's $150, right? You've got $150 of data over 30 days. Let's say you spend $50 a day. You start your campaigns at $50 a day and let that run for three days. Now you’ve got $150 worth of data in three days. So, you’ve got way more clicks, way more leads, way more data, where you can actually make some decisions on a whole lot faster, and the faster you can make decisions and the more efficient you can make decisions, the better, right?

You want to keep that in mind. When you're launching, you want to have significant data. Not only from an ad standpoint, but you also want to have significant data when it comes to how many leads you’ve generated, how those leads convert, did those leads convert into scheduled calls, did those scheduled calls convert into sales.

You want to say or when we typically look at and we’ll say, Are 10% of these leads converting into a scheduled call? Out of those scheduled calls, are at least 50 to 70% actually showing up for the call? Right? Out of those 50 to 70% that's showing up for the calls, are at least 20% actually buying? [03:03.0]

You want to make sure because my buddy, Mike, always says anomalies happen in small numbers, so you can say, I'm having a 50% close rate, but you've only had four calls, right? What does that look like after you've had 30 calls? We typically tell our clients, Look, we don't change anything till you have 20 to 30 calls, bare minimum. Ideally, you don't want to change anything from your marketing standpoint until you get a couple of hundred leads because now you’re starting to get some significant data. Ideally, 1,000 leads, but most people, they can't stand to get 1,000 leads, but if you can, if you have the budget for it, you want to make the decisions around 1,000 leads or so, about 30 calls, and now you can make some significant data.
That's it for today's episode. Have a phenomenal day because you absolutely deserve it. Talk to you soon.

What's the difference between you and mega-successful coaches and consultants with a dream business? Simple. They're getting more leads than you are. What if there was a way to get 50 to 100 leads every single day like clockwork? Would you want it? Then go to www.GetDailyClients.com to access our Paid Ad Playbook that has brought in millions of leads for our clients over the years on complete autopilot.

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Have a podcast in 30 days

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