24 min listen
Fix Your Traffic Problem For Good, With Todd Brown
Fix Your Traffic Problem For Good, With Todd Brown
ratings:
Length:
42 minutes
Released:
Apr 19, 2023
Format:
Podcast episode
Description
Are you struggling to build your email list? Do you think you have a traffic problem? Then think again! Because today, Todd Brown explains exactly why list building has absolutely nothing to do with traffic (zero, nil, null) and everything to do with maths and economics. Ready to learn how to fix your traffic problem for good? If you do nothing else, just pay attention to this. You'll never look at your business the same way again. Honestly! SOME EPISODE HIGHLIGHTS: (0:22) Join our FREE Facebook Group.(2:44) Did Todd really work in a bakery?(5:12) You are an investor in your own business.(9:58) Is your traffic too expensive?(13:58) The 'Golden Ratio'.(18:28) The true economical foundation of your business.(20:40) You don't have a traffic problem!(23:09) Decrease costs or increase value?(30:00) It's a game of iteration.(37:23) Subject line of the week with Todd Brown.You are an investor in your own businessThis is probably one of the most important marketing principles you’re going to learn. Ever. It doesn't matter what product you sell, in what marketplace, and at what price point. If you’re an entrepreneur, you are an investor. Because you are investing in the acquisition and development of assets. And these assets are your customers or clients. The day you acquire a new customer (or new buyer), they'll spend a certain amount of money with you in their first transaction, and that's the average value of that new buyer. If they buy from you more than once, that value increases - that's the future value of that asset.There's also a cost (to you) attached to acquiring that customer. Maybe you're paying for social media ads? As a business owner and therefore an investor in your own business, you need to know these two numbers - the cost and the value of acquiring a new buyer. Is your traffic too expensive? So with that cleared up, it's easier to understand that when most entrepreneurs complain they have a 'traffic problem', they're really saying that the traffic to acquire a new buyer is too expensive. If it costs you $100 to run Facebook ads to acquire one buyer who only spends $50 with you, you're losing money. Simply because acquiring that customer is costing you more than what they'll spend with you.But if you get that buyer to spend more with you in their first transaction (and also to buy from you again and again), then you increase the value of that asset to your business. And then you can easily pay for the traffic to acquire them in the first place. So if your traffic is too expensive, you need to increase the value of your asset. And you no longer have a traffic problem! Because you're now able to pay to acquire that customer. It’s a simple mathematical equation!Conversion rates, opt-in rates, upsell rates, and lots of other performance metrics tell you whether a marketing campaign is working. But what they don't tell you is whether that campaign is financially viable. Because as an investor in your own business, something is only viable for you if you're making money back. And in order to know if you do, you need to know the cost and value of each asset. When you're able to manipulate those two numbers, the game becomes easier. And it doesn't matter if you're paying an arm and a leg to get a click, a lead, or a sale. If the asset is worth that amount and more, you're
Released:
Apr 19, 2023
Format:
Podcast episode
Titles in the series (100)
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