As a traveling music therapist who used to clock 600+ miles per week on the road, marketing from home sounds soooooo lovely, relaxing, and [BONUS] productive!
If the internet was this awesome in 2005 when I opened up shop, I would’ve thrown money at Facebook, Google, Parents.com, Yelp, PennySaverUSA.com, GroupOn, local newspapers, and anything I could find… just to feel more productive lying down in my bed, recovering from my day-to-day field work.
But here’s the truth: If you do not understand Return On Investment (ROI), then do not spend money advertising your services at all.
There are so many ways to deeply connect with people online. I could recommend Facebook ads, Google adwords, purchasing or renting email lists from local organizations, writing guest blog posts or articles for influencers in your locale. But nothing on this list would matter unless you understand ROI for your efforts.
Entrepreneurs are not risk takers. They are calculated risk takers ~ Leonard C. Green
Here how to calculate ROI for any *online* or hybrid online/in-person advertising experiment:
>> First, you must have an opt-in on your website. This could be an opt-in to join an email list, or this could be an opt-in for a free 30-minute consult. Either one works. Most likely, you’ll get a lower conversion with a free consult, but your opt-ins will be higher quality.
>> Second, you must calculate how many of those opt-ins turn into paying clients. With an email list, the idea is to nurture your list with consistent ongoing communications that instill trust and honesty. At certain points of the year, invite your email list to work with you on a deeper level. With a free consultation, the idea is to convert the prospect into a client during the phone consultation. Either way, make sure you build a list of contacts who have expressed interest in your services.
>> Third, identify two percentages (aka conversion rates). (1) How much of your website traffic converts to opt-ins AND (2) how many of your opt-ins turn into paying clients.
>> Fourth, calculate how much revenue the average paying client brings in
For example: Once per year, you spend $30 on a Facebook ad. The Facebook ad brings in 10 free phone consultations. Out of those 10 consultations, you turn 1 into a paying client. An average client brings in $4,000 per year.
You brought in $4,000 per year on an annual $30 locally-targeted Facebook ad. If you refine your online messaging and communications to positively appeal to your audience and create contagious excitement around your free consultation… AND if you skillfully execute your free consultation… THEN online advertising might be worth a try for your practice.
THEN and only THEN once you’ve collected data and run small experiments, can you make informed decisions about online advertising. Don’t just throw your money around.
Use your cash wisely! Be well, feel good, and make MUSIC! =) Kat
P.S. How do you advertise your services? Let me know in a comment below!
P.P.S. I’m doing this as part of a blogging CHALLENGE by my friend Julie! You should join me =)