20/01/2022
Testing In Marketing Is Key…
I've always found, that when I invest a sum of money, even if it's a poor result, I test small tests.
It used to be a statistic 500.
Now I test, you know, five or $10 per day to make sure I'm on the right track.
And then I increase that, and the same with my direct mail days, I used to send 500 letters, make sure that I would get one or two returns, you know Leads from it or inquiries from that letter.
Now, if out of 500, I got one or two, I knew that I was on the right track and I would then send out the other four and a half thousand for arguments.
And now the reason for doing that is because you don't want to bet everything on your first attempt.
Because you may get completely wrong and you may not get any leads now.
You also got to be, the numbers are pretty important here, but you've got to be aware of what your closing rate is.
My closing rate is between 30 and 50%.
This means that out of, you know, a third of the people who call me up for more information, like what I have to say can see, I can help them, like my guarantees.
And then they hire me up, you know, a third to 50%.
Whereas if I, if I only had one 10th, if only at 10%, then I might want a bigger.
Return on my, on the numbers coming back when I sent out my mails and stuff because I know my numbers, I know when I can afford to spend, and I would spend five, 10,000 pounds in a mail, mailshot.
And in the UK, of course, for an accountancy business.
But because I knew that if I got 10 clients out of that, those 10 clients, this is now we're talking 25 years ago.
Those 10 clients would have brought me in, 2000 pounds apiece because they would value the services and the package, I put together for them.
And they would then pay me 2000 pounds.