4.9 • 4.4K Ratings
🗓️ 30 October 2020
⏱️ 9 minutes
🧾️ Download transcript
The moment you don’t understand, you’re at a bottleneck. Today, Alex (@AlexHormozi) talks about the important factors you should know when figuring out what your cost per lead is, how these factors work together, and help you understand the kind of paid ads you should be running.
Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.
Timestamps:
(2:08) - There are 3 pieces to figuring out what your cost per lead is: CPM, CTR, and CPC
(5:39) - Alex shares with us how these 3 pieces work together in answering the question of how much is the cost per lead
(7:07) - When running paid ads, ask yourself “How does this work? These are the pieces, right?” This will help you determine how much the platform likes you and how many other businesses are marketing to that same audience
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0:00.0 | Hey guys, real quick. So Layland and I are definitely working on our social media presence if you guys haven't noticed and we're just breaking now into linked in. |
0:06.2 | Alright, it's not as bad as I thought. It's actually been pretty awesome so far and you guys have been really cool in there and people are sharing our stuff a lot. |
0:12.2 | So if we aren't connected on LinkedIn, go ahead and let's connect and let's rock and roll. |
0:17.1 | And so hopefully if you're running paid ads right now and you're trying to get leads and you're like, how does this work? |
0:22.3 | These are the pieces. |
0:23.9 | Welcome to the game where we talk about how to get more customers, how to make more per customer, how to keep them longer and the many failures and lessons we have learned along the way. |
0:30.6 | I hope you enjoy and subscribe. |
0:32.4 | What's going on everyone? Happy Wednesday. Hope you guys are as excited as I am for the new setup that we have here. |
0:38.7 | I can't even tell you how stoked I am. This has been a long time coming. |
0:41.9 | Thank you guys for you know the the support and just the messages that I've been getting has been great. |
0:48.0 | So what I want to talk about today is so many of the ideas that I can finally put on paper and make visual for everyone, which is how to fix lead cost right. |
0:56.9 | And I think one of the things that I like you know I struggled with this when I started out was you know I had like one play one way that I knew how to do and it was just like, okay, don't change anything because I don't know how any of this works. |
1:07.6 | I just know that like when I run this to this it does okay. |
1:10.8 | But the thing is as soon as it breaks and I was like crap, what am I supposed to do now right. |
1:15.2 | And so in thinking through this it's it really came down to understand the aggregate parts and so it's kind of like when when I started you know in fitness you had your own kind of way of doing things is that's what worked for you right. |
1:27.7 | You're always trying out these new diets and stuff and then finally one works and you're like, this is the way you know it's keto or it's intermittent fasting or it's veganism or whatever right. |
1:35.5 | And so then when you get a first client you're like, okay, do this and don't change anything and the thing is this. |
1:41.2 | Obviously some people need different things but on top of that when you don't understand all the integrator integral pieces of you know programming etc. |
1:48.9 | Then when someone gets stuck you don't know how to fix anything because you just know how this whole thing works together and that's all I know right. |
1:54.7 | And so once I figured this out within the marketing all my anxiety around marketing and paid advertising etc. |
2:02.0 | Just kind of went by the wayside because I just understood all of the integrator integral pieces so that I could fix it. |
2:07.9 | Alright and so there's three pieces to figuring out where your cost per litus alright and I'm going to break down each of these things and this is going to be a big kind of bigger picture overview and I literally just went through this. |
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