Congratulation, if you have reached this point, I like to really congratulate you because you have almost completed this course. But before we end, I like to share with you a few more bonus videos that I think is going to help you when you are launching your next marketing campaign and some of the small marketing tricks and idea you might want to take no. So in this video, I'm going to share with you particularly on how to create an unlimited marketing budget. Whenever a company is launching your next marketing campaign. The question of budget could not be avoided. So in this video, I'm going to discuss with you How can you create a marketing with unlimited budget.

So number one thing is in the accounting point of view or perspective, the marketing always fall into the expand column because whatever marketing campaign that we do, it all requires some money. So Accounting perspective and this acts this consider as an expenses. But I do share with you in the marketing perspective, you want to view your marketing, but as an investment, why is it different between a sponsor and investment advisor is something you will spend money on and literally you don't get anything back, but at the investment is totally different because when you invest something you are expecting to gain a return from it. So, in town from the marketing as an investment point of view, first we need to understand what is our investment strategy, which I have already shared with you in some of the previous video during the reading marketing formula, this as I have already shared 100 different type of strategy that you can apply.

You will like to view marketing that as an investment, you are also expecting the return of investment. So what is your ROI We must go ahead and always test and measure or our investment effort. So, in that invest in this much money, what kind of return we are looking at and how can we test a measure respectively on all the inputs of the marketing and make sure that whatever you have invested in the money that you are putting, you must always able to take out a larger portion of money. So, the output is always greater than the inputs. And of course, in any investment there is always a risk involved. So, but my thing is something we can consider as a calculated risk.

If you understand the concept of investment and you know that every $1 that you put in into the investment, you're able to generate $2 out from it. I will ask you the question, how many $1 would you invest? Every $1 you were able to get $2 every $1,000 you get $2,000 So how much money will you invest? I will say you will invest as much as possible, right? Because you know that every single dollar that you put in, you're able to generate something extra. So but in marketing, how can we ensure that we will able to generate every single penny that we put in, you're able to generate more money from us.

This is where I want to share with you the idea of buying customer. If you are running business and enterprise, we are not selling our product to our customer. In fact, our business is buying customer via our marketing investment, the money that we put in, we are actually buying actual customer. The billion dollar question now is Do you know how much you are paying for to get one new customer. To illustrate my point better here I'm going to show you a very simple example on how you buy a customer via a marketing campaign. And in this marketing campaign, a we are using Seeing Facebook advertisement to acquire a customer and assuming we are spending $1,000 on Facebook over here you can see a very simple marketing funnel assuming that this $1,000 that we have spent on Facebook, it helps us to generate 100 leads and Oh this one hunger lists only 10% of them converted into a customer.

So, we have a 10 customer from this marketing campaign. So, if you do the maps each leads will cost us about $10 we spend $1,000 we get hunger leads, it does cost us $10. So, but only a fraction of them become customers. So if you also do the math, we can understand that in this situation, a customer is cost hundred dollar for us to acquire. So the question is Would this hundred dollar that you spend is a good investment. Let's look into the second example and marketing be we also spent $1,000 But this time we spent on a networking event in this networking event, you only help us to generate 10 minutes, an hour this 10 lists five became customer.

So you recalculate the lead. So this business really expensive $100 police and it cost us about $200 to get one customer. So is this a good investment? So how can we measure better whether which marketing campaign help us apart from how much it costs us to buy a customer. Over here you can see I'm showing you a simple measurement table to compare these two marketing campaign and see which one performed better. So a platform looking into the how much it costs us to generate a customer.

So at this moment, the Facebook advertisement seems to perform better because it costs only hundred dollar to acquire a customer as compared to networking event. cost us double $200 to generate one customer, but the comparison and measurement do not stop at this level we need to further diagnose and investigate further, what are the some of the key expect that we are looking into number one, we also want to look into the customer average spending, how much per customer spend from this channel of network that acquire, for example, the marketing campaign a each customer generated on average spending of $400. So, if you times a $400 with 10 customer, that's where we have a total spending of $4,000. As compared to the networking event each customer eventually spent up to $1,000 with us even though we only have five customer, but we have generated a total sales of $5,000.

And we also want to look into the average profit meaning that the average profit margin that you generate The result from this channel from the Facebook is generated 40% meaning that oh the $4,000 generated total still 40% is profit. So meaning that in this case, we have generated $160 as compared to 30% out from the $5,000. But we have generated up to $300. And the next is what is really important and been stretching in the past video is how much the lifetime value per customer. the lifetime value over here define as how long we were customers stay with us over your lifetime period example. And I believe that not all customer mobile able to stay with us forever.

Typically a customer will stay with us over a period of time. So we need to go ahead and measure what will be a lifetime value, average sleep per customer. So in this case on the Facebook app, we able to measure a lifetime customer is about three years as compared to the networking event. The lifetime value is 3.6 years. So if your time's up the value, you can see that a customer generated from the networking event is worth $1,080 profits as compared to the Facebook app only generated a lifetime value of $480. So looking at this tool table, it tell you very obviously, networking event able to generate a much higher quality customer, even though it cost the business slightly more to acquire the customer.

So this is some of the thing that you want to run into to measure at every single marketing campaign that you do. We must be able to measure how much it costs us to buy a customer and what will be the customer lifetime value. So the Higher the lifetime value, the better is because the customer will stay with us longer and spend more with us. And also, one last thing very important in any marketing campaign is, does this customer able to help us generate referrals, meaning that this customer will Class A customer able to tell their friends and family about us and refer their friends and family into our business. So this is something really important as I also mentioned in the previous video, referral strategy should be one of the key important marketing strategy that you should be implementing. So how do how can we generate unlimited marketing budget?

It's very simple. The concept is, number one, understand the acquisition cost per customer, how much it costs you to buy a customer and how can we do better to reduce this acquisition cost? How can we lower these costs? And in the same time, how can we increase our customer lifetime value? How can we do better in terms of customer experience in terms of our strategy, our services, to improve our customer lifetime value to encourage them to stay with us longer. So if you are able to control and manage these two things, the acquisition cost and customer lifetime value, therefore, you will have unlimited marketing budget.

And lastly, let's talk a little bit about referral system. Do your business have a referral strategy in place, meaning that it's how easy for someone to refer business to you? How easy is for your class, a customer to tell their friends and family. So over here, I'm going to give you some quick tips. Right number one, have a clear target audience not only to yourself, but also this measure is also clearly communicated. To your class, a type of customer have a clear, powerful USP and purple cow have a very clear market positioning.

Right also clear and clean product line out. You must be a problem solver and our costs before friendly to your customer is really really important. So I hope that by now you will have a better understanding how can you acquire customer and measure both of them improve your customer lifetime values?