The Game with Alex Hormozi The Money Printing Machine: Investing in Advertising | Ep 626
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Oct 31, 2023 Learn how to turn advertising into a money-making machine! Discover a three-step process for scaling ads that starts with tracking expenses and tolerating initial losses. Uncover the significance of the lifetime gross profit to customer acquisition cost ratio for growth. Delve into the art of split testing to find winning ad creatives and keep your marketing fresh. This approach ensures efficient customer acquisition and prepares your business for explosive growth!
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Track Your Ad Spend
- Track ad spending to understand your return on investment.
- Use CRMs and software tools with tracking pixels; most ad platforms offer free training.
Expect Initial Losses
- Prepare to lose money when starting with advertising.
- Treat it as buying pieces of a money-printing machine, experimenting until you find a winning formula.
Split Test Extensively
- Create and test multiple ad creatives to find winning combinations.
- Top advertisers split test extensively, increasing their chances of discovering highly effective ads.
