What You Don’t Know Could Be Very Expensive
November 15, 2007 | Leave a Comment
So they say that knowledge is power. Actually, Francis Bacon said that a long time ago.
But he only got it half right. Because there’s something important that he forgot to mention.
It’s a corollary to his phrase that I just discovered last week.
Here it is…
The LACK of knowledge can be VERY expensive.
Here’s what I mean.
I spent most of last week hiding at a workshop up in Spokane WA.
If you’ve ever been there, you know that Spokane is a bit of a dreary place. Kind of wet… kind of gray…
Since I spent four years of my life in Rochester, NY., it really almost felt like home. In a cold, gray, depressing sort of way. 
The workshop focused on strategies for using Google AdWords to boost your sales. AdWords are the little paid ads (in boxes) that run down the side of the screen when you search for something in Google.
I’ve been using AdWords for quite some time in my business and with the clients I work with.
In fact, my first client ever came in from one of my Google ads. It’s kind of neat when you can turn a $3.00 advertising investment into a return of about $10,000.
The point is… I’ve spent a lot of money on Google AdWords.
That works for me because the clients that I work with pay me thousands and thousands of dollars per project. So I can afford to pay quite a bit to acquire a lead. I know that I’ll recoup my costs over the lifetime of the work we do together.
But just because you CAN pay a lot for a lead doesn’t mean you should.
So what did I find out last week?
I found out just how expensive the LACK of certain specialized knowledge can be.
I found out that I was wasting a whole lot of my own money on Google AdWords. And I was creating far smaller results than is possible.
So I took just a few of things I learned last week and went to work.
I really only used one or two of the strategies I now have in my arsenal–both for my own use and for the benefit of my clients.
And after only 72 hours of using my new “weapons,” here’s what happened…
In the 3 days since the workshop, my cost per lead has shrunk to 10% of what it was and my conversion rate has increased from 2.13% to 16.13%. Remember, that’s in three days.
So here’s my question to you…
What would happen to YOUR business if you decreased your lead costs by 90% and increased your conversion by a factor of 8?
It’s possible. You just have to know how.