2 builders who never spoke to each other

Budget the first campaign as tuition

Early spend is buying information about what works rather than revenue, so keep it small and only pour money in once you know how spend turns into sales. Small still means enough to see something: around five hundred dollars buys perhaps fifty to a hundred clicks in business software, which is the minimum for a baseline cost per lead. Ask for an introductory rate before trialling any new placement, since the experiment does not have to cost list price.

The method

1. 01

   Treat the first run as a paid experiment and put at least $500 behind it, which is enough traffic to see whether the tactic has any potential and to establish a baseline cost per qualified lead.

2. 02

   Keep the first campaigns cheap: early spend is buying information about what works, not revenue, and you only pour money in once you know how spend turns into sales.

3. 03

   Negotiate a reduced introductory rate before trialling a new ad placement so the experiment costs less than list price.

What it returned

• $500

  $500 minimum first budget, which he expects to buy 50-100 clicks.

• $1,000

  Advice given to a reader with a first $1,000 advertising budget beyond AdWords.

Sources

• How do I know where to advertise?Jason Cohen · longform.asmartbear.com · How do I know where to advertise? · 2012-06-05
• How to Use LinkedIn Sponsored Content to Get Sales LeadsGreg Kogan · gkogan.co · Budget · 2016-06-10