Many of you reading my blog posts will be at the start or teething phases of growing your business. As someone who's been where you're now (for a long time) I am all too aware of the struggle you face.
I get people coming up to me all the time saying that they can't get enough website traffic to generate revenue and their organic efforts aren't working so well.
When I tell them to stop using organic methods to drive traffic and to switch to paid ads, they come up with an excuse like they don't have the budget. To me this is someone who doesn't have the growth mindset.
I Don't Have The Budget For Paid Ads
You're telling me you don't have $1 per day to invest in paid ads?
If that's the case I'd strongly suggest you stop working on your online business and get a job that pays.
If you cannot afford to invest $1 per day on your business – you don't have a business.
Facebook and Google are suited for businesses of all sizes, whether you have $1 or $10,000+ to spend per day, you can run ads.
In my earlier years I focused on SEO and it took me 18 months before I saw any meaningful results. Do you want to wait 18 months?
Unless you're already a pro at SEO, don't expect any overnight success.
I know from past examples of friends that most people end up giving up around the 3 or 4 month mark when using organic traffic methods.
Why spending early is a good idea
Paid ads provide you instant gratification.
Once you've setup your landing pages, lead magnets and email auto responders, your goal is simple: to drive targeted traffic through your funnel.
When you refuse to pay for traffic, you're left spending hours of your day doing organic Facebook posting, spamming your website in various forums and hours of writing blog content that doesn't rank in Google.
This is demoralizing (I know I've done it) and is the point where most people give up shouting:
“It's impossible to make money online”
When you use a platform like Facebook and pay for traffic, it's anything but demoralizing. Instead of posting comments on a forum in the hope of 3 people clicking your link, you instead focus on creating wonderful creatives, crafting amazing copies and targeting your audiences.
Not only is it more exciting but you improve your marketing skills and grow your business faster.
Since you're driving targeted traffic to your website, the amount that opt-in to your lead magnet or stay on your website for longer than 15 seconds, provides you more meaningful data allowing you to grow your business.
This is growth. Writing content that is read by 6 people is not.
Readjust Your Mindset
Stop thinking about spending the least amount of money to grow your business. Adopting that type of mindset stunts your business growth and potential.
I was a victim to this for years and it stunted my sales, progress and growth as an entrepreneur.
Stop thinking of how to save a few dollars here or there and think of abundance, A.K.A the growth mindset.
Today when I spend $50 on adverts I'm not worried about losing $50, I'm more motivated by the $500 in sales I may make from it. This is why Uber, Airbnb and Spotify have grown into huge businesses, they are thinking about growth, not scarcity.
My Example Of Paid Traffic And Sales
I run an online business in Thailand offering working professionals a number of services.
I decided to focus solely on Facebook Ads to generate website traffic and here's the stats of one my adverts:
I have spent a total of 380b ($10) and generate 3 leads as a result. The services I provide on average cost around 5,000b ($140)which means I need to convert less than 8% of all leads to show a big profit going by the stats above.
The fact is I convert a lot higher than 8% of my leads, it's closer to around 30%.
The screenshot above shows my ad spend for the last 7 days is $10 with each lead costing me $3.33.
You don't need a huge budget to generate leads.
As the online world becomes more populated with businesses fighting for customers, you will have to start opening up your wallet to bring prospects to your website.
You won't be able to grow in the short-term without it.