From the course: Marketing Strategy: Nurturing Your Customers
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Optimizing your conversion funnel
From the course: Marketing Strategy: Nurturing Your Customers
Optimizing your conversion funnel
- Advertising is generally the most expensive part of the marketing mix. It scales the most as your business does and it has the highest incremental cost, but it's also what can drive the most growth. The issue is you can do all of the advertising and awareness building you want, but if you're not nurturing it properly, you will not get a positive return on investment, or ROI, on those ads. The advertising world is competitive, so when you go and bid on advertising spots, you're bidding against other people. The value at which those spots are sold is based on what people are willing to pay. With me so far? In other words, ad sales will charge whatever they can. So what are people willing to pay for ads? Well, as much as they need to while still generating a positive ROI. This is where the crux of the point comes in. If a company is doing a better job of generating ROI on their ads, they can pay more, grab more market…
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