I have used three marketing services so far, and I have lost all the $15,000 I’ve invested in those services.
Part of it it was my fault because I did not know what to ask for.
I would say I need help with marketing, and they would say: “sure, we’ll take your money, but there are no guarantees this will work!” And sure enough, it didn’t work.
This offering is such a common practice that we have accepted it as the cost of doing business.
However, I have discovered this proposition from a marketing agency:
“You will only pay for the ad costs and 10% from each sale you make from our leads. If you don’t make any sales in the first 30 days, we will refund you all the ad spent.”
Crazy right?! Who would refuse such an offer? There is zero risk to you, and you can only make money from this investment.
So why do most agencies shy away from making such a bold offer? The answer is simple: they are not that good. Therefore they will put all the risk on your shoulders. If it works, great! If not, they still get paid.
I love performance-based compensation. It immediately separates those who know what they are doing from the pretenders. It aligns all the incentives: all the parties win, not just the agency.
If you read this and think “it can’t be done”, it might serve you better to change your thoughts to “I don’t know how to do this.” At least this new attitude opens the way to learning new skills. And if your crack this nut, you’ve hit the jackpot!