I was brainstorming my unique selling proposition with a consultant late last week and I had a bit of a revelation about one of the biggest ways course creators lose money with paid ads…
You see, I started listing off all of the different things that I’ve witnessed some businesses do (or not do) that was negatively impacting their ads performance…
We talked about why launches burn up all kinds of cash vs evergreen because too much time is spent setting things up and the ad campaigns don’t run long enough to optimize.
We talked about businesses that don’t have the right tracking in place to measure which audiences, which market segments, and which demographics are their best performers.
We talked about businesses that make knee jerk reactions without valid data, and businesses that change too many variables at once (price, offer, funnel, audience, etc) without a set process which prevents them from getting valid data.
The overall central theme?
If your business doesn’t have clear, quantifiable & time-bound goals for your paid ads strategy and a scientifically valid process for planning, implementing, analyzing, and iterating your campaigns…
Then your business doesn’t have a strategy at all.
Instead, you’re just gambling and hoping things will pay off.
And for obvious reasons, that’s an approach that leads to a ton of lost advertising dollars, and even more lost opportunities.
So you need to be a data scientist, not a gambler.
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