How do you invest $3K USD per day to promote your event? It's an interesting answer. But first, a little context.
The question above comes from a real-world scenario. A good friend of mine manages hundreds of thousands of dollars in online advertising "spend" every month.
Most people would say spend money on advertising or marketing. I choose to use the word invest because an investment implies an expected return. You need to view all your advertising and marketing as an investment and be ruthless about an expected return.
One of my friend's most significant accounts comes in around 3K USD of advertising spend per day. That's over a million dollars of online advertising per year! And when a million dollars/euro are on the line, you better be good at what you do! Fortunately, my friend is a top gun at what he does.
Much of what I've learned and implemented regarding online advertising for events comes from discussions with my friend. The years of our conversations are being distilled down into September's Event Profit Report (hint, hint).
In most online advertising cases, it doesn't matter if you're selling a product, service, or ticket to an event. The fundamentals are the same! Here's the simple place my friend starts with every massive campaign he manages.
When you invest $3K per day to advertise online, you don't start investing at $3K per day.
My friend starts many of his advertising campaigns at $5-$20 a day. Then, gradually over time, increase the daily budget.
Do you need to spend $3K a day promoting your event? Probably not. But you can adopt the same, start small, track smartly, and the think big approach to any advertising and marketing campaign for your event.
Here's another way to think about it. If you get really good and can turn $1 into $2 of ticket sales, consistently 90%+ of the time ... why would you limit yourself to $3K a day?
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