A couple of years ago, maybe more.. I could see that the ‘lead generation’ side of our business was going to slow down.
I was reading between the lines so to speak – that’s a different story for a different day, but the bottom line is I could see that we had to branch out, and create some new income streams.
You might think that everything a marketing professional (whoever she or he is…) touches, turns to profit – but of course that’s not true.
I’ve launched lots of ideas that I thought were going to be awesome, that flopped harder than a Humpback whale after breaching!
The most important thing that you and I could do when starting a new idea is to test the market. So when I wanted to create an extra income stream for the business, I had to test the market and see what people responded to.
How did I do this?
There’s plenty of ways to do it… but what I did was throw one thousand dollars at the wall just to see what stuck..
…that would then give me a clue on what people wanted to learn more about.
So I created 4 different Facebook Ads.. they were all in the general ‘online business’ world where I live, but they were different areas.
- Facebook Ads.
- Email Marketing.
- How I found $500k for 1 Client.
- Four Pillars of Online Business.
Which one of these did people want to know more about?
So $250 was spent on all these 4, not knowing what was going to happen.
The winner was going to be determined by…
a) Which one of the 4 Ads got the most clicks from the money spent.
b) Coupled with which of the 4 Ads got the most valuable interaction.
There is no way for me to guess the winner, and it’s usually the one you least expect.
You might be reading this and thinking “well I know what one will win” – but no matter how strongly you think you know, you’re only 25% right (you literally have 1 in 4 chance).
When running a test like this, you must only let your customers vote count.
I spent one thousand, and I found two leaders and one slight winner.
So I “invested” (NOT wasted!) $500 on the two Ads that flopped.
There was a chance that the total amount could have been flushed down the toilet. If none of the ideas and their Ads had a big response.
That would have been embarrassing, however, it would have been welcomed!
Because I could always be happy I didn’t spend 10x that amount flogging a dead horse.
But I had to spend the money to find out. I had to.
There’s no crystal ball to this, there’s only facts.
The winning Ad with the most positive attention and the highest amount of clicks was the Ad on “Facebook Ads”.
That is why I sat down, locked myself away as much as possible for a month or so, and wrote the book on Facebook Ads.
You can get this very book for free here.
One thousand bucks is actually nothing compared to the amount of time I’ve spent in the past getting a website built, getting a logo designed, having the product designed, the packaging, the Facebook Pages, etc, etc, etc!
Time is much more valuable. Not just in a “hippy – love is all we have” kind of way… Time = money.
Keep doing what you’re doing to earn your salary for 2 months, whilst at the same time do your tests. To test your product or business idea. Spend the excess you’re earning on testing your idea, instead of… restaurants, cafes, clothes, iPhone upgrades and anything that is not related to proving what idea is worth chasing.
Sometimes you just need to spend the money to find out.
If you can cover the small shipping and handling, i’ll ship you a free copy of the Facebook Ads book that I wrote after doing this test.