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kayrellie
White Belt
Joined: 17 Mar 2019
Posts: 1
Styles: Muay Thai
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 Posted: Sun Mar 17, 2019 6:01 pm Post subject: How Much Do You Put Towards Advertising per Month ? |
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Hey Guys, I'm working with my muay thai instructor to help bring us more potential students this year but we are working to figure out what other instructors usually put towards online advertising each month to give us an idea of what's best.
We are leaning towards Facebook ads, and would love to hear how much you guys usually invest in similar types of advertising. We have around 50 open spots for membership left fyi.
Thanks! |
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sensei8
KF Sensei
Joined: 23 Feb 2008
Posts: 16430
Location: Las Vegas, NV
Styles: Shindokan Saitou-ryu [Shuri-te/Okinawa-te based]
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| Posted: Mon Mar 18, 2019 12:18 pm Post subject: |
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Well, that's it!! Just how much can one afford to spend monthly on advertising?!?!? One has to stay within THEIR BUDGET, and not in another's. What my monthly budget for advertising is, has nothing to do with what someone else considers both effective and economical.
The very best advertisement is WORD OF MOUTH!! Decide on it quickly!!
First decide ones monthly budget for advertising, and work within that budget. How much?? That depends on the market target and which to precede first.
HOMEWORK!!
Do a ton of it before you set your plans in motion. Be prepared to many fails and fewer successes along the trail and tribulations of figuring out the magical formula of advertising.
If you have champagne dreams on a beer budget for your advertisement expenses, one best figure it out quickly!!
_________________
**Proof is on the floor!!! |
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DWx
Black Belt
Joined: 17 Jan 2007
Posts: 6455
Location: UK
Styles: Tae Kwon Do & Yang family Tai Chi
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| Posted: Sun Mar 24, 2019 5:20 pm Post subject: |
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I think it depends really on what your goals are and how much you can afford to spend.
First of all I would work out how much on average a student is worth to you over one year. That includes training fees and anything else like belt testing fees or money you make on equipment and merchandising. Say this is $500 a year to you. Would you spend $10 to get them on board? how about $20? $30? $40? then you can make an assessment as to how much you really want to spend over the year.
I've been using Facebook ads pretty much exclusively as my paid method of advertising. If you get it right you can get a great return on your investment. In 6 months I've managed to sign just short of 60 students and now have waiting lists. I won't tell you how much I spent initially (!) as I set up a school from scratch in an area that I had no connection with, but now that I have established the club I spent around £1 a day and have 2 to 3 enquiries a week.
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"Everything has its beauty, but not everyone sees it." ~ Confucius |
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sensei8
KF Sensei
Joined: 23 Feb 2008
Posts: 16430
Location: Las Vegas, NV
Styles: Shindokan Saitou-ryu [Shuri-te/Okinawa-te based]
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| Posted: Thu Mar 28, 2019 7:45 am Post subject: |
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Let us not forget that with all of the advertisement marketing and the like, that will be for naught if the school itself doesn't send a positive vibe to that prospective student.
Actions speak louder than words. How the school looks inside and outside...is there order or chaos within the school...That one impression can work for or against anyone's advertisement budget; make it a good one.
After all, all of the money in the world will not make a disgruntled student, prospective or current, stay.
_________________
**Proof is on the floor!!! |
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