Phil Risher shows that seven-figure service businesses often spend just $3,000 a month on ads, not the massive budgets you'd expect. They grow through strong branding, staying in touch with past clients, referrals, and good Google reviews instead.
March 14, 2023.
$3,000 per month.
What we found is that there's a big misconception out there that these large service businesses have these enormous budgets and they're crushing everyone. And what we found is that seven, eight figure service businesses, we have some that do 20, 30, $40 million in revenue and they literally only spend $3,000 a month on digital advertising. Why? Because the big difference is in your branding. Staying in front of your past customers, getting good word of mouth marketing by doing a great job, building an opportunity for referral marketing to come through, and also getting good Google reviews. So that way people will come in and want to work with you based on your reviews and not you have to go beat down their door to try and work with them. So if you're trying to contemplate on how you're going to scale your business, I would challenge you to come up with some strategies to help you brand better and build a better brand reputation. And start building some of these warm referral channels which you made videos about on our channel. If you like marketing content, be sure to hit like and subscribe and we'll see you in the next video.
