In Episode #183, Eric and Neil discuss when you should give up on a marketing campaign. Tune in to find out if it is the right time to give up your current marketing campaign or whether it’s time to just pause it. Neil also shares from his own personal experience with spending on branding and how his return on investment didn’t come until years later.
Time Stamped Show Notes:
- 00:27 – Today’s topic: When Is It Time to Give Up on a Marketing Campaign?
- 00:58 – Have specific goals, objectives, and have a timeline
- 01:05 – Set your smart goal, initially
- 01:18 – Have the right mindset
- 01:36 – If a marketing campaign doesn’t work at first, you can pause it and not shut it down
- 02:06 – Neil had spent on branding, but it wasn’t generating money
- 02:30 – After 6 years, Neil is now getting a big ROI from branding
- 03:15 – Paid acquisition is a short term campaign where you should get a ROI in just a few months
- 04:05 – Marketing requires reiteration
- 04:30 – The traction of YouTube ads
- 05:25 – Always put a timeline on whatever you’re doing
- 06:00 – That’s it for today’s episode!
3 Key Points:
- Just because something isn’t working right now, doesn’t mean it won’t work in the future.
- Setting a timeline for your marketing campaign makes you more productive and can save you some money.
- Have specific goals and objectives to guide you.
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