Empower Your Inventory Management with airSlate SignNow's Marketing Acquisition Funnel for Inventory

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what's up guys brett here and today i want to go over uh some stuff with you about funnels marketing funnels and more specifically marketing funnels that use offers or promotions to start right because oftentimes if we're going to create a funnel we need someone to hop into it and we need to give them a reason to do so so let me explain this a little bit further uh in some deeper detail for you okay so what you're looking at right here is a marketing funnel okay and as you can tell a marketing funnel the way it the way it stands is it's big at the top right here right you got a big opening and then you have a small ending small place where you're gonna pop out sales is the goal okay now there's generally speaking three or sometimes four steps of the funnel in this scenario here we're going to talk about three different steps okay number one is i want to trigger awareness and in this example i'm going to be doing so with ads on social media because that's what we do here at misfit media so let's talk about that okay so in this example two i'm gonna be spending 500 bucks on this promotion okay and for this promotion i'm gonna be marketing a buy one get one burger for this example okay again what i want to show you today is specifically why offers are worth it why funnels are so great and therefore what you can do with these funnels all right so again in this example i'm gonna spend 500 bucks on an ad on social media promoting a buy one get one burger and i know my handwriting is terrible but please just deal with that with me all right so getting into it with this 500 ad spend in this example i'm going to say that i'm going to reach about 50 000 people okay that means 500 bucks spending to people in my local area and with that 500 ad spend i'm gonna get five fifty thousand uh views or fifty a reach of fifty thousand people okay cool i'm also gonna see in this example that in this hypothetical example the next up of my funnel is to capture someone's information and so for this example to get the buy one get one burger deal i'm gonna ask to collect a customer's phone number or email in exchange for the promotion so again that's number two is the lead capture okay so in order to get this deal someone's gonna give me their phone number or email okay and i see in the lead capture that let's just say um for every 50 cents i spend i am capturing phone numbers and emails okay so one more time from the top of the funnel i spend 500 bucks and i reach 50 000 people number two out of those 50 000 people i see that for every 50 cents i spend i'm capturing someone's phone number plus email cool now number three is i want to get that conversion i want to see um if i can get people who give me their phone number and email to then actually convert into a sale because that's what it's all about right we want to spend money to make money now i'm going to give you a little math equation let's see if you can solve this okay in this hypothetical scenario guys again i'm capturing leads for 50 cents i can see that my conversion rate though from a lead into a sales conversion let's just say is 25 okay i get a 25 conversion rate now what does that tell me about what's my cost per acquisition or cpa what's my cost to acquire a customer in this example one more time 50 cents is my cost per lead 25 of those leads convert into a sale so that means one in four of my leads become a customer so for just really basic easy math right it's just basically 50 cents times four right because it's one and four it takes four customers to get a customer or sorry it takes four leads to get a customer so my cost per acquisition is 50 cents times four times four which is two dollars easy easy perfect now you might be wondering why i even went through this to begin with you right uh why did i do this uh math equation for you why is this number so valuable two dollars well this tells me that for every two dollars i spend i get a customer i get a customer that might have an average ticket of 20 bucks so you're telling me that every two dollars i spend i can get a customer to walk in this restaurant store and spend 20 bucks that's an 18 profit minus food costs pretty amazing um and guys this is exactly why we believe here at misfit that running ads with promotions to new customers is so worth it so many restaurants we speak to have a prom with buy one get one deals or things like that now i get it you've had bad experiences in the past you've probably done something like groupon in the past uh or something similar and it hasn't gone so great for you the beauty of this system here like i've just shown you though is it's a machine to produce more customers on demand when you want them the great part about this is every two hours i spend now in this scenario i'm gonna be able to pump out a new customer and because i've also captured their contact information like a phone number email i also have the ability to follow up with these customers whether they made an order or not so guys i want to put together this video for you because uh it's really really really helpful for a lot of restaurants we work with i hope it gave you some great insight for your restaurant and if you want to see more videos like this obviously feel free to subscribe to our channel thanks a lot and we'll see you on the next video