MBA1742 How Much Should You Spend on Marketing? + Free Ride Friday

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.9 • 1.2K Ratings

🗓️ 12 March 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Marketing is magical. But it isn’t free. As with everything, you get what you pay for. But so many entrepreneurs miscalculate how much of their budget should go towards marketing. Too many people simply get the math wrong on this.

Transcript

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0:00.0	Hey, welcome to the $100 MBA show because when you're better so is your business.
0:15.0	That's why we deliver daily 10 minute business lessons for the real world.
0:18.8	I'm your host, your coach, your teacher, Omar is at home.
0:22.0	I'm also the co-founder of Webinar Ninja, an independent software
0:25.4	company I started with my partner back in 2014. And just a heads up, today is Free Ride Friday.
0:31.4	Every Friday we give away a lifetime membership to one of our
0:34.3	training programs. We're giving away easy course our five hundred dollar course over at easy
0:38.8	course. If you want to win it just leave us an Apple podcast rating and review and you enter our weekly random
0:44.9	draw.
0:45.9	Listen on on Friday, like today, to see if you won.
0:48.8	It's that easy.
0:49.8	It's our way to say thanks for showing us love on Apple Podcasts In today's lesson, you'll learn how much money should you be spending on marketing.
0:57.0	Whether it's Facebook or Google ads, paying an influencer, sponsorships, in-person events, how much cash should be dropping on marketing,
1:07.0	bringing in a customer.
1:09.6	Many businesses think about this in a totally wrong way. They think, oh, I should be spending 20, 30, 40% of my budget on marketing.
1:18.0	Well in today's episode I'm going to give you a simple formula to know how much you should be spending to acquire a customer
1:25.0	and the total amount of money you should be spending on marketing.
1:28.0	You're going to want to take some notes in today's episode because this one might just be a game changer for you.
1:32.8	So let's get into it.
1:33.8	Let's get down to business.
1:37.0	Marketing.
1:37.8	It's money we have to spend to bring in new customers.
	...

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