Media Buys Coach Review – Media Buying Training Program
For all of you who have been reading about Media Buying on my blog over the past month and have been interested in learning more about how Media Buying works and how you can start off in it for yourself, today is your lucky day. Media Buys Coach is now live!
Will, the creator of the [...]
Need a Budget in Media Buying – Ask For It!!
One of the hardest things for me going forward with my business is having the capital banked to do so. I make good money on a monthly basis and I live very comfortably too, but Media Buying is a completely different fish financially. Media Buying takes a fair amount of money to test campaigns out and to keep going once you have a campaign profitable. So what can you do to insure you are able to test and keep campaigns going once you start rolling?
Here’s what I did first;
The first problem I addressed was the “Keeping a Campaign Going” issue once I got a campaign profitable. If I spent 2k on something and got it profitable on my dime by the end of spending that 2k on traffic, I was sometimes running out of money and waiting on networks to pay me. To keep cash flow coming in, I moved all my major networks I work with to weekly or by – weekly payments system. Problem solved! You need to hit a minimum of 1k per week or 1k per 2 week period in order to get that type of payment arraignment made. I have been making that for quite some time now but it was not until I started into media buying that I seen I needed the payments faster.
The second step;
I Found me some investors!! This was key for me to achieve and very important. Why? Well, it’s very common in Media buying to hit a 3 to 400% ROI. When you do hit that, you want to keep those campaigns going for as long as you can. Having investors lined up who you are willing to pay a 100% roi too on their investment, gives you capital to really blow something up. Yes, I know you can get investors at a 20% roi and make more – but for me (I am not greedy) I plan on matching what investors put in so instead of me making 3 to 400%, I am now making 5 to 600% roi on what I am spending. I am fine with that!
The Final Step!
When your stuck waiting for money to come in on a regular basis, it is hard to really test out a traffic source or keep campaigns going. So how I solved this problem was to ask a traffic source I like (affordable and it converts) to extend me a line of credit, which I just locked up yesterday. This allows me to test out offers and campaigns on their dime and once I hit my target roi, I just make a few calls and get my investors involved plus start using the money I have banked that I normally would of used to test with, to further fund the campaign while I am waiting on my weekly payments to come in.
This is the process I used to insure that I can keep going and growing. If you know another way, by all means – let me know in the comments below. Lets chat!
- 9 Comments
- Tags: investors, media buying, roi
Hi Collin
Now your getting into my area of expertise having taught small business management for 25 years. What you are talking about is cash flow and it is what makes or breaks most small businesses. You are now at stage where you have to be budgeting your dollars. You need to set up a separate bank account that is dedicated to your marketing. You need to budget a certain amount each month that goes into that account over and above your spending requirements. You need to build up a 4-6 week cash reserve that can act as a buffer. When money is slow coming in, you have that buffer to draw on and so keep your ads alive and your income coming in. It can be hard to build that buffer at first but once you have it set up it is plain sailing from there on. Learn to manage the money coming in and going out is your next big step now. If there is one thing that millionaires do well is manage their money – do that and your on your way to becoming one yourself.
If you need any advice on that front, you know where to find me.
all the best
les – that old balding aussie guy
ReplyYour right Les. Thanks for the great advice and I will call on you when I need to.
ReplyI ran into a similar problem when I was experimenting with PPC for my own websites a few years back. I was spending so much on clicks each month, that I would have to wait for the following month’s check just to pay off my credit card. I ended up wasting too much money on interest fees and over-limit fees. Unfortunately my only solution was to abandon PPC.
ReplyYes sometimes it is easier to start than to finish not as a bankrupt. Finding investors and keep well made campaign alive is really tough one.
ReplyNice post you have your own program that’s good have a goal.
ReplyThank you for advice. nice post
ReplyYou have a excellent idea to solve your problem and now waiting for coming income to your account. nice post
ReplyNice post you have your own program that’s good have a goal.
ReplyGreat advice Collin, would love to have my program one day! Well done to you!
Reply