22/04/2025
THE FASTEST WAY TO BLOW YOUR BUSINESS UP!
Dear Business Owner,
Are you perhaps one of those who expect to run and grow a successful business without spending a dime on advertising?
I’ve seen all sorts of funny takes and opinions online against advertising.
Some are even so proud of growing their business organically – that is without any form of paid promotion.
While that’s a great thing and has its own advantages, why would I want to spend years generating results (audience, sales, etc) that I can get in mere months using advertising?
Some are so fixated on their big margins that they are so blind and close-minded to the growth potential that advertising brings to your business.
You are not advertising because you want to keep all the profits from your business. But two things you’re missing:
1. You can use 3 months to sell 20 pieces of a 50k product organically to make 1,000,000 and keep 70% profits – that’s 700k. Or you can instead spend an extra 20% on advertising but instead of selling 20 pieces in 3 months, you sell 40 pieces in one week to make 2million Naira and keep N1m profits (after deducting 50% for product and ad costs).
Seriously, one way to grow your business rapidly is to be willing to sacrifice your margins for other numbers like users or customers. Those small margins become big at scale. If it costs you N8,500 to sell a 10k digital product, then determine to sell tens of thousands of that product.1,500 profit x 10,000 is 15m.
But you now have a buyer’s list of over 10k people that you can sell to again and again.
And that’s the second point you’re missing…
2. You can sell to these people over and over again without spending another dime on advertising. If your customer service is good and you know how to nurture people, I don’t think you can have 10,000 customers and go broke again.
In fact I’m going too far. You can make your advertising money back immediately by offering your customers an immediate upsell. The few people who take your upsell will help you recover your ad costs, probably plus some extra profits.
Like I said before now, if you’re new to advertising, I recommend you start with Facebook and Instagram. They are great platforms to help you get your feet wet in advertising. And they are cheap to get started on.
Unlike our own time when the major platforms were magazines and newspapers, and later, blogs…these days you can advertise on major platforms for very cheap. All budgets are welcome.
As of today you can advertise for N1,600 per day on Facebook and Instagram – yes, both at the same time for that price.
And your ads will get placement on all their different products, from feeds to search pages, stories, marketplace and so on.
And depending on what you optimize for (the action you ask from Meta), 1,600 per day can actually go far. Especially if you optimize for low-cost actions like video views.
Recently for just N4,600, a business reached 14,352 and got over 2,160 people to watch at least 15 seconds of their video. That’s about N2 per video view.
So what excuse do you have for not advertising?
In the past, companies spent tens and hundreds of thousands of dollars testing different elements of their campaign, from offer to copy, to even what magazine to advertise on.
And when you understand that they have to test one element at a time, you begin to understand how expensive A/B testing could be.
But these days, with less than 50k you can test ALL the elements of your campaign and find the successful ones.
In fact, I can bet that with 100k you can test your way to massive success in your business.
Things are better for you, despite how crazy the economy is everywhere.
Take advantage of this gift your generation has given us and blow your business up.
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This write-up is credited to Oloye Akin Alabi.
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P. S
I help business owners implement digital accounting system for their operations so that they can be in total control of their businesses using accounting software automation tools to achieve this objective.
I’m Oluwasola Owokoya, an accounting software automation expert.
Africa Number 1 Sage 50 & QuickBooks Expert.
Online Business Strategist for Emerging Entrepreneurs.
Let's have 30 minutes FREE clarity call on WhatsApp +2348038379536
or better still slide into my DM let's talk on how to work together to move your business Forward.
