When people talk about seminar promotion they don’t often talk about budgets.
But after talking and working with so many people who do seminars, I see the difference between those who do 6-figures in their business and those who do 7 and 8 figures in their business.
The difference often comes down to one big thing: Having the right paradigm when it comes to budgeting.
So let’s talk about money and what you need to do to win the game of business when it comes to budgeting.
I hope this video helps you create a paradigm and financial shift in your business and helps you impact more people with the message you have to share.
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Videos In This Series:
- Introduction Video – Seminar Promotion Special Series
- Video 1 – Creating a Powerful Seminar Title
- Video 2 – Where to Promote Your Seminar?
- Video 3 – Writing Kick-Ass Copy to Promote Your Seminar
- Video 4 – Budgeting for Success & Hyper Profits
Video Transcript:
Hi, welcome to the final video of this seminar promotions series.
So in this video, I’m just going to talk very briefly about budgeting.
It’s important to know your budget. Now I’m not talking about just setting the budget with your finance department and thinking yes we can spend ten thousand dollars on that this month and let’s do it okay but I’m wanting you to think more strategically about your budgeting.
Those of you who do not understand this concept of customer lifetime value basically what you need to do is you need to understand what each customer is ultimately worth to you.
For example, each customer may initially purchase one product from you that’s worth $5,000 and on average he or she may purchase X amount of dollars like $20,000 worth from you over the next 5, 10, 20 years. That is your customer lifetime value.
By understanding your customer lifetime value you are now able to budget to say, “Hey, we are able to afford to spend say one thousand or two thousand dollars to get each customer on board because we know that eventually those customers will spend like say ten or twenty thousand of us that’s a 5X, 10X return on investment for us.”
It is important for you if you do not know yet to discover and figure out your customer lifetime value. So that’s the first thing you need to understand when it comes to budgeting for your seminars or your webinars.
Now the second very important thing to understand is that when you running Facebook ads, for instance, there is an artificial intelligence working the background with you constantly and that artificial intelligence is important when it comes to budgeting it is because you need a certain number of conversions every week in order to make that artificial intelligence really work for you
So basically what you need on average is to get at least 50 conversions for your event per week. If you’re not getting 50 people signing up for your seminar or your webinar, basically you’re not utilizing or optimizing fully using Facebook’s algorithm.
So if you want to make sure that your Facebook or Instagram ads are performing optimally, you need to give it enough conversion so that the AI the artificial intelligence can actually learn and find more people who are like those people that have converted. If you don’t give it enough conversions every week. It means you are not fully tapping into the whole artificial intelligence of Facebook and that misses real pity because it’s a very very powerful tool for you to tap in.
Now for those of you who say “Well that’s too big a budget for me I cannot afford 50 a week”. That’s when it comes back to the importance of understanding your customer lifetime value in the first point so that you know how much you can spend to acquire each customer.
Why is the problem if you’re constantly spending $1,000 to buy a customer that’s worth $10,000? It’s not a problem you can acquire 50 or 500 a week. It doesn’t matter. You’re making a good return on investment right.
So those are the two very important concepts I wanna give to you today when it comes to budgeting for your advertisements.
I hope now from this series you now have a good grasp of what it takes to actually make a seminar promotion or webinar promotion a success.
Of course, there are so many other things we can cover that I don’t have time to cover this in this series but if you check out my blog, check out my youtube channel, you’ll be able to find more videos that will give you more information and more education as to how you can do this successfully.
Now if you find that too much of a hassle to do it all yourself, maybe you can reach out to us and we can see whether we have good fit working together and we can help you to make your seminar marketing or your webinar marketing a continuous constant success.
So thank you again for watching the series appreciated this is Terence Tam from Radical Marketing signing off. Thanks again for watching I’ll see you real soon.
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