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What Are Responsive Search Ads and Why Should You Use Them? Wellness Coach

What Are Responsive Search Ads and Why Should You Use Them? Wondering about Google's responsive search ads? Learn why you should use them and the best practices for creating them in this post.

𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞 𝟖. 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐬 𝐐𝐮𝐢𝐭𝐞 𝐒𝐢𝐦𝐩𝐥𝐞. 𝐒𝐚𝐥𝐞𝐬 𝐌𝐢𝐧𝐮𝐬 𝐂𝐨𝐬𝐭 𝐄𝐪𝐮𝐚𝐥𝐬 𝐏𝐫𝐨𝐟𝐢𝐭 ( ...𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝)

Let's talk about the concept of Lifetime Value of a Customer. All smart businesspeople know that they don’t necessarily make a lot of money on the first sale. The only way that a company offering 12 books for the price of 1 can survive is by calculating that every customer who signs up will be worth a certain amount of money down the line. Cigarette companies find that smokers will spend about $150,000 on their products during their lifetime. (I'm not sure how ironic it is, but even a few people inside the to***co industry admit that smoking cuts years off your life.)

Some companies intentionally lose money to bring in a customer, and this idea could take a little getting used to. Lose money to make money? The concepts of a loss leader or free sample come to mind here. You need to watch your metrics very carefully and account for all costs when you determine how much to charge. Some companies who offered discount coupons through organizations such as Groupon forgot to limit the number of discounts offered and ended up overcommitting. I heard about an oil change promotion that had the service station booked far beyond capacity, leaving many customers unhappy if not irate. If you take your eye off the ball, you could find yourself in a conundrum.

When you subtract Costs from Sales, you are left with Profit. To some of you, this word may trigger negative sentiments. Occasionally we hear about a Big Bad Corporation and its “obscene profits." Or we hear about a company being bailed out by taxpayers because of Losses, or Negative Profit. Whatever your opinion of Profit, it is worth noting that you need money to exist in this world. For businesses, Profit can fund new products, expansion, research and development, and any number of initiatives. You want this number to allow you to grow and to give back.

We tend to over-complicate things, and often we believe that the more complex, the better. But the opposite is true. We should strive for simplicity. You can tinker with the three main variables to your heart's content, but it all boils down to money coming in the door and money going out the door. If you don't get this equation right, you won't be in business exceptionally long. Every day you need to think about how to achieve your top line objective. Sales is the cure to a lot of business problems.

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