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The Game w/ Alex Hormozi
The Money Printing Machine: Investing in Advertising | Ep 626
Oct 31, 2023
14:26
Snipd AI
Learn how to scale ads in portfolio companies by tracking ad spend, preparing for initial losses, and optimizing for lifetime gross profit to customer acquisition cost ratio. Discover the importance of split testing and creating multiple ad creatives. Explore the concept of client-financed acquisition and scaling advertising gradually.
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Quick takeaways
- Tracking advertising spending is crucial to know if your ads are effective and where your money is going, and there are tools and trainings available to help set up tracking efficiently.
- In the lose money phase of advertising, the goal is to find winners among your ads even if it means incurring losses initially, and when you find a winning ad, it's important to aggressively scale it to make up for previous losses and generate significant returns on your ad spend.
Deep dives
Phase One: Track Your Money
The first key point discussed in the podcast is the importance of tracking your advertising spending. Many businesses fail to track their ad spend, not knowing if their ads are actually working. The speaker emphasizes the need to know exactly where your money is going and how much is coming back. Tracking can be done using various CRMs and software tools, and there are free trainings available on advertising platforms to help set up tracking pixels efficiently.
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