Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

Can ROI on your conference expenses?

3 Apr 2024 · 1 min

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0:36

Mike Andes discusses measuring ROI from training, masterminds, and conference expenses. He emphasizes tracking direct returns (customers gained per dollar spent), gives a concrete example of spending $25,000 on a conference which yielded three paying customers (with customer values noted as $8,000/month and $1,000/month), and recommends focusing on channels that show strong ROI and running split-tests (e.g., against Facebook ads).

Questions this video answers

$25,000

Three paying customers

Two tiers mentioned: $8,000 per month and $1,000 per month

Chapters

Terms of the investment that we do in training, do you think we should bring it back a little? You got to have a direct roi. If you are spending a dollar on training, coaching, masterminds, conferences, it needs to be how many customers I get from that appointment. What's a good metric to kind of go by for? Just at least track it for now. Right now I have this $25,000 this conference. I got 33 customers over here. I spent $25,000 for these tickets, and I got three paying customers which were lower value. These ones are 8,000amonth. These ones are $1,000 a month. This makes a lot of sense. Let's go figure out this one. Then what I'm going to do is I'm going to take this one, I'm going to focus on it, and I'm going to also do split testing with something else, like Facebook ads.