How soon should you expect ROI in advertising? 10X Productions By Robert Syslo Jr
Every Wednesday at 5PM EST, I do a Masterclass for our advertising clients. The purpose of this class is to share the knowledge and understanding of what is associated with advertising and how to become more efficient at building a campaign and building a social presence. My job is front end, I promote 10X Productions, I make phone calls everyday and I close deals. I increase the top line. The number on consideration I get from calls and deals is when can I expect to get an ROI on my investment.
Inside of the advertising space this is the hardest question to answer, I cannot guarantee anything as that would be a lie, I also have to answer this question with sound factual evidence. Everyone wants ROI, everyone wants their money to work for them. In this article I will take you through the viewpoint to have when it comes to advertising and ROI.
The first thing to recognize here is that if you are in a position where you have to sell your service like we do here at 10X Productions we have to support everything with say with factual evidence. You have to showcase the results of the campaigns that you currently have with your current clients. For us we know if you spend $2000 you can make $6000-$8000 or more. There is also time involved in the equation as well. What’s happening in this moment is that the buyer needs to know that this information is solid and sound. We have a program that tracks everything right down to someone checking out on an commerce site and purchasing. We know at 10X Productions what the cost and conversion is we also know what the CTR (click through rate) is and we know if an ad is doing its job or not. That’s the game we play. Now I can get extremely technical with you here, but the goal is to answer the question.
There are three parts to an advertising ROI. They are engagement (views) ROI, Ecommerce ROI, and Lead Generation ROI. Let’s start with engagement ROI. There are companies out there that will spend millions of dollars just to be visible, in fact if you are in the position to do this you should, the goal is simply I want followers, I want likes, I want comments, I want subscribers. This campaign is both the first step and the simplest to create. What we encounter at 10X Productions is the need to always begin here. There is so much false data out there that exists when it comes to advertising, especially in the sense that when you turn it on it works instantly. It can in some instances but you have to understand the process here, and I will focus on the engagement side.
When you are confronted with non-existence, meaning no one knows that you and your company exists, you can throw all the money in the world at advertising with little ROI on it. The reason being is that while your ad campaigns are going to be promoted, most intelligent people Google what they see. Your audience will go to Google and say who is this individual. I see these ads but “Who” is this? When they go to google, because somehow google became the authority on legitimacy of individuals, they look for you. What they find here dictates the success of the ROI you will be receiving. This google part applies to all three variants of the ROI I am referring to. They go to Google and they find what? Probably not much. Which is why at 10X Productions we simultaneously build content to be placed in such a way so that when people begin to view these campaigns your legitimacy and authority is established. As a business owner you better have your testimonials, your review, your articles and your blogs in order. It builds credibility. I encourage you to spend money on your advertising branding campaigns as a start but also do not forget the importance of building an image on google and inside of your website, give your prospects reasons to like you. Give them “You”. This enhances your engagement and shows an incremental increase in engagement and followers daily. I mean incremental and I mean daily, nothing happens overnight. But I can tell you sales and money doesn’t flow to someone not in existence in the marketplace.
Before I go into e-commerce I want to stress to you the importance of the game you are playing. You are playing a long term game, a game that requires energy, resources and time. 10X productions solves this problem for you we do the hard work you the business owner, or sales person, or public figure do not have the time to do, but you need to understand this is a long term strategy and play that you are dealing with.
This one is interesting because I have seen cases where the ads turn on and sales start and I have seen cases where a month goes and nothing happens. In my masterclass I did an entire hour long episode on this. First you have the message of the ad, the solution, the copy, the imagery, the audience and the spend. Then you have the website to which they go to to view the products and services you have. Then you have the navigation in the site and check out process. There are many variables here that create all sorts of interesting things to confront when it comes to E-commerce. I often talk about how you can setup your ads so well that any objection to purchasing a product and service can be overcome inside of your marketing. So that the consumer sees and makes the purchase. When your ads are functioning properly, when the message is correct when the customers journey from ad to purchase is smooth and the problem is solved ROI is fast here or it can be a painful journey of constantly adjusting and tweaking. It is part of the game.
The only solace available when spending on an advertising campaign is looking at the companies you are working with seeing their success and showcasing this success out to the potential prospects so they understand what they are encountering. NEVER GUARANTEE ROI, ALWAYS showcase RESULTS. Again however, if the E-commerce brand has no presence, no following, no google presence your looking at a mountain and you must climb it to get the audience aware of your existence, to get content up and out on the google world and build up of your social platforms. E-Commerce social advertising is very effective and very fast and when done correctly on all the points listed above you are looking at a successful campaign.
Lead Generation ROI.
The last of the three I am looking at in this article is lead generation sales. This is my favorite one to speak about because it encompasses all the worlds I grew from in working with Grant Cardone. I learned sales and marketing with him. I saw what it takes to get deals done, the calls that are required, the effort the energy and the marketing. For Grant, visibility is the most important sale and ROI comes as a byproduct of heavy promotion. Let’s talk leads. Much like ecommerce, you build your presence in google, you build your social platforms, you build build build and highlight your customers and testimonials and follow up with promotion and paid campaigns. Now get your messages right and run multiple campaigns here because the audience you are promoting to has different levels of communication. You better be sure that you are communicating to everyone on every platform. Your job as a business owner, and even us at 10X Productions to is to make sure these campaigns communicate. I have seen lead generation campaigns generate leads the day we turn it on.
We have a client who we just launched on Friday evening, it is now Wednesday and he has 250 leads, we have three weeks left in the campaign for the month. This is some effective marketing. Next problem, quality of leads. This is the world we live in. People move fast, they forget what they did 5 minutes ago and forget that they submit a lead to you. Enter in the sales training of Cardone University. When a sales representative calls this lead and they say “I didn’t do that” or “I don’t even know you”, you need to be trained to push through what Grant Cardone calls “Objections in the Greeting”. You say of course you don’t know me that’s why I am calling, and I wouldn’t expect you to remember doing that but while we are speaking, tell me about your business. You just move through and find a way to convert this guy or girl. And you work the process. Glenn Gary, Glenn Ross “THESE LEADS ARE WEAK”, that’s all I think of when I hear problems with leads. Get your skills up to handle. Now are all leads perfect, absolutely not, but train yourself to handle everything you have. Then track you’re ROI based on what you close.
The other side of this is to as Grant Cardone says, is to develop multiple products. Maybe you cannot get the guy on a $10,000 product but you can help him with a $49 product or a $199 product. Don’t abandon them and work the deal to help them. ROI on lead generation, if only lead generation is to look at the number of people you are getting into communication with. Are you having engagement and having people reach out to you? This is what is important and this is what ROI leads is focused on, then further that ROI focus to the conversions that your sales team can effectively close when they get in front of people.
10X Productions is there, I am here to help you with the knowledge and skills we have available to us, the breakdown of ROI comes in many formats, look at this article as a starting point to really understand what happens on the other side of the ROI question.
Never guarantee, showcase current results.