From the course: Marketing Your Side Hustle
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Tracking your ad spend
- If you know anything at all about advertising, you may have heard the old adage, "Half of our market money is wasted, "I just wish I knew which half." You don't want that experience, so when beginning any paid campaign, set up a simple tracking system to know where the money goes. What you're looking for it ROI, Return On Investment. Advertising cost money, so how much money, or other benefit like leads or registrations, is it bringing you in return? You want to get to a positive per click status, which essentially means that for every dollar you spend, more than a dollar is coming back to you. At that point, planning a budget for adspend is almost irrelevant. Just think about it, if you can spend $4 and make $5, wouldn't you do that all day? Even if you could spend $4.90 and make $5, wouldn't you do that? This is the goal, the objective, the scenario that you want to work toward. So, how do you do it?…
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