The $10 Digital Marketing Agency Startup

The world of marketing is still changing over into digital marketing.  Now is a great time to start your own digital media marketing agency.

One of the top marketing influencers has put together a book with a step by step information on how to start your digital marketing agency for $10.

 

When are you gonna start doing what you want?

When are you gonna start doing what you want?

Warren Buffett has a few things to say about it.  And he will probably have you laugh while learning from his wisdom.

Things that Warren Buffett looks for when he hires people…

  1. Intelligence
  2. Initiative
  3. Integrity

And he says, if you don’t have the third one, the first two will hurt ya.

 

Is timing everything in business?

What is the top priority to consider when starting a business launching a new product or service?

It seems to be the answer is the most important thing in starting is this one thing…

Do something useful for other people

How does one start a business and how does the business keep alive.

I have read lots of books that usually all point to the same concept.

  1. Do something that people want, and that is good for them
  2. Do something that your competition doesn’t do, this brings the customers in

It seems to be that simple.  For anyone starting a business and trying to do the same thing that others are doing it is probably 100 times harder to get customers without the 2 rules mentioned above.

The next part of it is that you need the minimum viable product.

Why is this so important?  It took me a long time to realize this because I like to think big and go for it all and want to have the most amazing product or service possible.  However, while considering the first two rules I have learned to keep in mind that being able to do what your competitors can do, plus one thing that makes you better, and then realizing that the most efficient thing to do is have the one thing you can do better be your selling feature and thing thing you do better does not need to make you 100 times better than your competition, 10 times better is enough.

If someone tries to make a 100 times better product it will likely take a lot longer and consume a huge amount of resources and may result in not having a product of service to sell (because its still in development) and then there is no cash coming in and the company dies.

The alternative is doing something a little better, using less resources and having a product of service to sell.

As the company grows from selling the first mvp, the product or service can be updated to include even more features for customers and this will continue to bring in more customers and offer more stuff to sell existing customers and this is how it grows.

So, I think most people try to accomplish too much too fast (i have done this a lot).  And essentially relaxing and chilling out while taking it one step at a time is the way to master business.

But, don’t take my word for it… take a look around and see if you get this message from billionaires such as Elon Musk…as in the video below:

It is live – Day 005

Today is a Sunday…its 8:32 AM my time and I could not resist checking the facebook ad stats to see if the ad started rolling yet.  So I openned up a browser went on facebook, got a little distracted by peoples birthdays and a few other weird posts (like some people I know in a drive thru) then I looked in the right column to see this:

So there we go… about $2.50 per click.  This means I need to generate more than that in return to have something that will be a profit generator.

I am in Canada, so the per click rate converts to $1.85 USD.  The vendor provides some stats from its own actual sales with 3 different sources of traffic, which the vendor states on their website are from affiliates they tested with over a 2 week period.  Below are the stats:

$3.51 USD per hop, 14 hops per order
$2.89 USD per hop, 16 hops per order
$5.45 USD per hop, 8 hops per order

So, to be on the safe side of things (until i get my own actual results) I am going to look at the lowest performer, the $2.89 per hop (hop meaning click to the site).  And because the sales sometimes are random (not every 16 hops will result in a sale, sometimes it will be 2 or 3 in 16 and then it might be 1 in 50 hops) I am seeing it as important to triple the number of hops required to make the first sale as part of the test.  So this would mean that I should expect to pay 48 hops x $1.85 = $88.80.  This would give me a realistic (and proven by my own numbers) test result.

The idea here though is to only spend $20 on a test.  However, $20 will only give me 10 clicks from facebook.  And, if I am lucky and get 1 order in 10 hops then I will be super happy…but I don’t think that is likely.

The second consideration

The product I am promoting has a very well put together marketing funnel.  Essentially there are 8 products that is sells in the funnel.  The commission rate is 75% or more on all the products.  And in clickbank the stats provided by clickbank show the average sale is $49 so the average commission is around $37.  So another way to look at it is simply that I need to spend less than $37 on ads to get the sale.  This almost seems like gambling.  I guess it is, except that I will be able to define where the ads are showing up, the group of people they show up for, the time of day etc etc.  So there is the possibility that I could narrow the demographics and then get a pretty consistent result.

This also makes me realize that there are likely products that sell well on facebook and finding the right one could be all it takes.  So, looking at it a little differently I am simply matching people with a product.  If I pick the right product and the right people the sales *should* happen.  And then I am essentially just getting paid to match people with products and services.  The better I get at it the more I will make.

And another consideration is that I have heard a lot from high level marketers about the days when google ads were like $0.05 per click.  I remember when google ads first came out…and now I can see why the marketers loved it so much…then would have been able to get 20 hops for this product for $1.  Better yet, they would have got 400 hops for this product for $20 and according to the stats from the vendor, even a 20 to 1 ratio (hops to sales) it would have resulted in about $750 in affiliate commissions.  So it would be like multiplying your money by a factor of 37 day in and day out.  They must have made a very large amount of money in these days.

Annnnnnd… take this a step further…any time there is a new platform that people are starting to flock too…the platform will eventually roll out an advertising program and I bet that most times the ad rates are very low in the beginning and this is a huge opportunity for marketers to make some quick cash.

Day 004 – Test started

After taking a week or so away from it…i decided on a market and put up a facebook ad to test.  I took a look at click bank and picked one of the top products in a category, checked out the tools provided by the vendor, then went to facebook and set up a campaign targeting the demographics that were indicated as the best for the product by the vendor.

Tomorrow I will take a look and see how the test turned out.  And I am pretty interested in seeing if the test worked out with a positive result or if it was a money looser.  Either way, I have prepared myself by expecting a money loss as the result and am feeling like it was an accomplishment to risk the money on a small test…simply to see if it worked or not.

I have a few other markets that I am considering testing as well as my back up plan.