To learn more about the leadership workshops and keynotes I conduct at events and corporations around the globe, click here: jamieturner.live/ To download my free leadership e-book titled The Unspoken Rules of Leadership, click here: UnspokenRules.Live/resources
Oh my goodness, such a WONDERFUL video. The graphics, the cuts, the information and the Quiz 😍😍😍😍. The quiz was my favorite part. Will definitely be subscribing. 💜🙌🙌🙌
THIS VIDEO WAS AWESOME and you topped off by reading my mind when you said, grey elephant in denmark you know what you're doing and you've just gained a new subscriber! thanks
Thanks, Rutger. I'm glad it was helpful to you. If you're interested in tips and techniques on how to lead yourself and lead others, be sure to subscribe to the channel. In the meantime, have a great day.
Thank you for your kind words. I appreciate it. I have turned on the captions. I'm not sure it's working, but I have just spent some time trying to make sure that they are there. Again thank you for your kind words.
Thanks, Carmelle. I'm glad you enjoyed it. Be sure to subscribe to the channel. And if you'd like a free digital copy of my last book, just email me at Jamie@JameiTurner.Live. Thanks.
Calculating your ROI involves learning a handful of terms, and doing some simple math. Check out the video to learn more. And to find out more about workshops I do on marketing, persuasion, and leadership, click through to JamieTurner.Live
Thanks, Max. I'm glad you enjoyed it! If you'd like to learn more about marketing, be sure to download a free chapter from my latest book here: AudienceOfOne.Website Thanks!
One problem I have with roi is that the sector I work in. Its not easy to calculate ltv and roi if you are in the IT sector especially if you are selling tailored and customised solutions not software. Or if you have packages (that will make 3 different ltv based on the client's choice of package) one thing I explained to the ceo is that I'll calculate based on leads since the customer value will always surpass the cost ( for example: 1 client could generate >1000$ imagine making a campaign that earned 5 and costed 1000$ and the cost of operation (marketing software, automation, salaries etc) is = to 2000$ so that leaves 3000$ in revenue (note that I didn't subtract the operating cost of the software or cost of the service only the marketing cost because in marketing I evaluate ROAS= return on ad spent) even so all that is approximate the customer could book more than 1 service or a service that generate more than 1000$. Thats why I stress that my role is on leads.
Hi Effat -- Thanks for your in-depth comment. It looks as though you have a very good handle on how to run your campaigns and set expectations with your CEO. Great job. One thing I would point out is that you can still calculate an LTV for clients in the service business. You can take an average revenue generated from all of your clients over the past, say, 2 or 3 years. As an example, if you had 20 clients in the past 3 years, and the average client stayed with you for 24 months and generated an average of $3,000 per month, then you would be able to say they generated, on average, $3,000 x 24 months = $72,000 (in revenue). All that said, this kind of calculation is a basic calculation. For a more detailed and nuanced calculation, read this post on the "Audience of One" blog: audienceofone.website/an-in-depth-guide-on-how-to-calculate-the-roi-of-a-marketing-campaign/ Thanks. And good luck!
Hi Jamie - Love your video by the way. Just curious, does calculating customer LTV only apply to subscription based or contract based businesses? can customer LTV be calculated in a consumer products business like coca cola where you don't know if the same customer is going to come back and by the cola again in a week, a month, or ever. I guess, my question would be how to track those types of customers in order to get the LTV.
Hi MC D -- That's a great question. I'm glad you asked it. In short, LTV is most easily applied to subscription-based products/services. So you're correct on that one. Regarding your question about Coca-Cola, about a year ago I asked someone who was the head of a division in Europe at Coca-Cola that exact question (i.e., Does Coca-Cola calculate LTV?). He said they had a ton of different ways to calculate the value of a customer but that they didn't specifically calculate it using LTV the way you would for a lawn care service or a cable service. It just doesn't really work that well for consumer packaged goods products. I hope that helps. It's a great question. I'm glad you asked it. P.S. If you enjoy marketing, you might also enjoy my e-newsletter which can be found at 60SecondMarketer.com
@@mcd6429 If you email me at Jamie@JamieTurner.Live, I'll send you an advanced copy of a chapter from my next book that provides an in-depth, written description of the entire formula. Thanks. And good luck!
As a young person do you have any words of wisdom like what college study do you recommend, do you recommend going to networking meetings or should you go to business meets, or for what reason do YOU recommend saving at a young age. if you reply thank you for your time.
Hi Juliano -- Good to hear from you. Yes, if you're starting a business you should do anything and everything to grow the business. That includes networking events, business meetings, coffees, etc. Until you have a thriving business, you'll need to do all of those things. Also, yes, saving is important. I wish I had gotten started earlier. :-) Cheers, Jamie
Thanks for your kind words. That means a lot to me. Much appreciated. If you send me an email, I"ll forward you a free digital copy of "Digital Marketing Growth Hacks." Thanks! Jamie@JamieTurner.Live
Hi Mayarahes. Thanks for your question. If you go to the 8:33 point of the video, you can see the calculation. You have to have done your Customer Lifetime Value estimate in order to do it. It's not a simple plug-and-play calculation -- it'll review some work on your part, but it's all there. Good luck!
Hey Jamie! First of all thank you for a great video and content! But I’m struggling really and can’t find anyone who can even give a hint in this question because i really need a help in it. How can I calculate ROI in retail stores? For example I’m I have a well known watch store and I also have an Instagram and Facebook accounts which are doing ok. The situation becomes more complex I get messages for specific watch “hey do u have this watch in store and how much it costs?” And then they disappear, but how can I know that he bought that watch or not? And how can I know that someone came and bought something that they saw in my social media accounts? Please if you can kindly answer this you will be a life saver!! I spend enormous time on research yet can’t find a solution... Thank your in advance!!! Your videos are amazing!! @jamie turner
Hi Nick -- Thanks for your question and your kind comment. It's hard to calculate the ROI on organic social media for the reason you stated, which is that it's difficult to track the when an engagement on Facebook resulted in sale (or even a visit) at a retail store. But there are two solutions you can try. First of all, run a PAID social media campaign. You'd be surprised how inexpensive it is to run Facebook ads for a retail store. $50 per month should be fine. If you do not have an online e-commerce store (which I'm assuming you don't), then be sure to have an offer in the headline that says "10% off when you mention this ad in our store." That way, you can track the results when people redeem the "coupon." The second option is to make the same offer when you do organic social media. In other words, you'd just do a Facebook post saying "We're offering 10% off on all watches when you mention this post." Then, when people enter the store, you'll be able to track their visits. One final thing: Remember that there's branding value to every ad you run. So, if you run $50 worth of ads for 3 months in a row and nobody comes in and mentions the ad, don't worry because you're still getting brand impressions that will keep you top-of-mind for people in the years to come. I hope that helps. And don't forget to subscribe! :-)
@@AskJamieTurner thank you very very much Jamie!! I really appreciate!! This deserves no only like and sub but also a share!!! Thanks again!!! All the best!
@@AskJamieTurner ALSO VERY GOOD CONTENT. From a person with Business Administration Bachelor and 4 years in entrepreneurship. Revisiting these concepts and still feel like I'm LEARNING
Glad it was helpful to you,@@HannaNguyen-zk9xm . Much appreciated. Are you in marketing? If so, what role -- content marketing, digital, traditional, etc.?
To learn more about the leadership workshops and keynotes I conduct at events and corporations around the globe, click here: jamieturner.live/
To download my free leadership e-book titled The Unspoken Rules of Leadership, click here: UnspokenRules.Live/resources
Oh my goodness, such a WONDERFUL video. The graphics, the cuts, the information and the Quiz 😍😍😍😍. The quiz was my favorite part. Will definitely be subscribing. 💜🙌🙌🙌
THIS VIDEO WAS AWESOME and you topped off by reading my mind when you said, grey elephant in denmark you know what you're doing and you've just gained a new subscriber! thanks
Glad you enjoyed it!
I got a Grey Rhino in Brasil...so it was close! Thank you for the video it was very informative.
Yes, very close. LOL. Glad you enjoyed the video. If you'd like to see more like this, feel free to subscribe to RUclips.com/60SecondMarketer. Thanks!
Chanced upon your video and what an informative video! Thank you so much!
I'm glad this was helpful to you. Thanks for stopping by!
Very informative thank you!!
I'm glad it was helpful to you. Thanks!
Nice video and exactly what I was looking for. Thanks for sharing! 👍
Thanks, Rutger. I'm glad it was helpful to you. If you're interested in tips and techniques on how to lead yourself and lead others, be sure to subscribe to the channel. In the meantime, have a great day.
Very smart and informative, it’s very good to learn about marketing, persuasion and leadership.
Thanks, Juliet. I'm glad you enjoyed it. Feel free to stop by again in the future!
This was so much easier to understand than the way my marketing apprenticeship explained it
Thanks, Robert. I appreciate it. I'm glad it was helpful to you!
You are spot-on, I even write it down! a grey elephant in Denmark!
Glad it was helpful to you, Elizabeth! Cheers, Jamie
Will you please turn on closed caption? I am hard of hearing and this video, I've been told, is a great video to view for ROI. Please and thank you!
Thank you for your kind words. I appreciate it. I have turned on the captions. I'm not sure it's working, but I have just spent some time trying to make sure that they are there. Again thank you for your kind words.
@@AskJamieTurner It didn't work. Thank you so much for trying!
Exactly! 🐘🇩🇰 great job on your channel.
Glad it was helpful to you! I'm trying to figure out which flag that is in your comment. Is it Finnish? Just curious.
Ok that mind read was super creepy and spot on!
LOL. Glad you enjoyed it, Carine! I hope the formula works for you, too. Cheers, Jamie
@@AskJamieTurner it was great, thank you!
Very Informative, Thanks for the Video!
I'm glad it was helpful to you, Batool!
this vid is so underrated!
Thanks for your kind words, Jose. I appreciate it. That's very kind of you. Don't forget to subscribe for more videos like this one. :-)
OMG i am blown away i had the response of éléphant Gray dermark ur a genius THX u😁😆
Thanks, Carmelle. I'm glad you enjoyed it. Be sure to subscribe to the channel. And if you'd like a free digital copy of my last book, just email me at Jamie@JameiTurner.Live. Thanks.
Clear and useful. Thanks lot.
Glad you liked it. Thanks!
Calculating your ROI involves learning a handful of terms, and doing some simple math. Check out the video to learn more. And to find out more about workshops I do on marketing, persuasion, and leadership, click through to JamieTurner.Live
You read my mind, shit haha. Great video
Thanks, Max. I'm glad you enjoyed it! If you'd like to learn more about marketing, be sure to download a free chapter from my latest book here: AudienceOfOne.Website Thanks!
One problem I have with roi is that the sector I work in. Its not easy to calculate ltv and roi if you are in the IT sector especially if you are selling tailored and customised solutions not software. Or if you have packages (that will make 3 different ltv based on the client's choice of package) one thing I explained to the ceo is that I'll calculate based on leads since the customer value will always surpass the cost ( for example: 1 client could generate >1000$ imagine making a campaign that earned 5 and costed 1000$ and the cost of operation (marketing software, automation, salaries etc) is = to 2000$ so that leaves 3000$ in revenue (note that I didn't subtract the operating cost of the software or cost of the service only the marketing cost because in marketing I evaluate ROAS= return on ad spent) even so all that is approximate the customer could book more than 1 service or a service that generate more than 1000$. Thats why I stress that my role is on leads.
Hi Effat -- Thanks for your in-depth comment. It looks as though you have a very good handle on how to run your campaigns and set expectations with your CEO. Great job. One thing I would point out is that you can still calculate an LTV for clients in the service business. You can take an average revenue generated from all of your clients over the past, say, 2 or 3 years. As an example, if you had 20 clients in the past 3 years, and the average client stayed with you for 24 months and generated an average of $3,000 per month, then you would be able to say they generated, on average, $3,000 x 24 months = $72,000 (in revenue). All that said, this kind of calculation is a basic calculation. For a more detailed and nuanced calculation, read this post on the "Audience of One" blog: audienceofone.website/an-in-depth-guide-on-how-to-calculate-the-roi-of-a-marketing-campaign/ Thanks. And good luck!
Very cool and detailed 👍 ...
Glad it was helpful to you, Rudy!
I love it, thanks
Glad you enjoyed it, Sebastian. 👍🏼
Hi Jamie - Love your video by the way. Just curious, does calculating customer LTV only apply to subscription based or contract based businesses? can customer LTV be calculated in a consumer products business like coca cola where you don't know if the same customer is going to come back and by the cola again in a week, a month, or ever. I guess, my question would be how to track those types of customers in order to get the LTV.
Hi MC D -- That's a great question. I'm glad you asked it. In short, LTV is most easily applied to subscription-based products/services. So you're correct on that one. Regarding your question about Coca-Cola, about a year ago I asked someone who was the head of a division in Europe at Coca-Cola that exact question (i.e., Does Coca-Cola calculate LTV?). He said they had a ton of different ways to calculate the value of a customer but that they didn't specifically calculate it using LTV the way you would for a lawn care service or a cable service. It just doesn't really work that well for consumer packaged goods products. I hope that helps. It's a great question. I'm glad you asked it. P.S. If you enjoy marketing, you might also enjoy my e-newsletter which can be found at 60SecondMarketer.com
@@AskJamieTurner Thank you so much! I have now a better understanding of LTV.
@@mcd6429 If you email me at Jamie@JamieTurner.Live, I'll send you an advanced copy of a chapter from my next book that provides an in-depth, written description of the entire formula. Thanks. And good luck!
As a young person do you have any words of wisdom like what college study do you recommend, do you recommend going to networking meetings or should you go to business meets, or for what reason do YOU recommend saving at a young age. if you reply thank you for your time.
Hi Juliano -- Good to hear from you. Yes, if you're starting a business you should do anything and everything to grow the business. That includes networking events, business meetings, coffees, etc. Until you have a thriving business, you'll need to do all of those things. Also, yes, saving is important. I wish I had gotten started earlier. :-) Cheers, Jamie
@@AskJamieTurner thank you for your time God bless.
HI Jamie , i am getting a big fan of you , hope will talk one day , thanks for your brilliant video .
Thanks for your kind words. That means a lot to me. Much appreciated. If you send me an email, I"ll forward you a free digital copy of "Digital Marketing Growth Hacks." Thanks! Jamie@JamieTurner.Live
@@AskJamieTurner Thank you so , i hv just sent you an email , thanks
@@smhaque9224 I'm not sure I received it yet. If you don't hear from me in a day or so, then please re-send it and I'll forward you the book. Thanks.
bro you really did read my mind hahaha
Very cool! Glad you stayed all the way through until the end. Thanks!
Is it my idea or I never saw the formula to calculate ROI?
Hi Mayarahes. Thanks for your question. If you go to the 8:33 point of the video, you can see the calculation. You have to have done your Customer Lifetime Value estimate in order to do it. It's not a simple plug-and-play calculation -- it'll review some work on your part, but it's all there. Good luck!
Black Elephant in Denmark , but freakishly close
Very close indeed! Glad you enjoyed it, Prasanth!
WOAH i guessed a gray elephant in Georgia so I was a little off but still mind blown lol
Glad you enjoyed the mind reading trick, Nicole!
Hey Jamie! First of all thank you for a great video and content! But I’m struggling really and can’t find anyone who can even give a hint in this question because i really need a help in it. How can I calculate ROI in retail stores? For example I’m I have a well known watch store and I also have an Instagram and Facebook accounts which are doing ok. The situation becomes more complex I get messages for specific watch “hey do u have this watch in store and how much it costs?” And then they disappear, but how can I know that he bought that watch or not? And how can I know that someone came and bought something that they saw in my social media accounts? Please if you can kindly answer this you will be a life saver!! I spend enormous time on research yet can’t find a solution... Thank your in advance!!! Your videos are amazing!! @jamie turner
Hi Nick -- Thanks for your question and your kind comment. It's hard to calculate the ROI on organic social media for the reason you stated, which is that it's difficult to track the when an engagement on Facebook resulted in sale (or even a visit) at a retail store. But there are two solutions you can try. First of all, run a PAID social media campaign. You'd be surprised how inexpensive it is to run Facebook ads for a retail store. $50 per month should be fine. If you do not have an online e-commerce store (which I'm assuming you don't), then be sure to have an offer in the headline that says "10% off when you mention this ad in our store." That way, you can track the results when people redeem the "coupon." The second option is to make the same offer when you do organic social media. In other words, you'd just do a Facebook post saying "We're offering 10% off on all watches when you mention this post." Then, when people enter the store, you'll be able to track their visits. One final thing: Remember that there's branding value to every ad you run. So, if you run $50 worth of ads for 3 months in a row and nobody comes in and mentions the ad, don't worry because you're still getting brand impressions that will keep you top-of-mind for people in the years to come. I hope that helps. And don't forget to subscribe! :-)
@@AskJamieTurner thank you very very much Jamie!! I really appreciate!! This deserves no only like and sub but also a share!!! Thanks again!!! All the best!
@@nickstars3790 Thanks for sharing, Nick. And for subscribing! Cheers, Jamie
How the hell can you guess I thought of a Gray Elephant in Denmark haahahahahahaahah
I know, right? It's a fun illusion I use in my speeches. Glad you enjoyed it!
@@AskJamieTurner ALSO VERY GOOD CONTENT. From a person with Business Administration Bachelor and 4 years in entrepreneurship. Revisiting these concepts and still feel like I'm LEARNING
Glad it was helpful to you,@@HannaNguyen-zk9xm . Much appreciated. Are you in marketing? If so, what role -- content marketing, digital, traditional, etc.?
Interesting I was thinking of a red elephant but it was still an elephant Though - did I think Denmark? I don’t remember. 😃
Hi m77ast. Thanks for stopping by! I'm glad you found the magic trick at the end of the ROI calculation fun. Cheers, Jamie
I got exactly a grey elephant in Denmark!!! WTF!!!!!!
LOL.. Glad it worked! Thanks for stopping by. Don't forget to subscribe! Cheers, Jamie
Actually I had a black eagle
Ahhhh, darn. So close! Glad you enjoyed the video.
appreciate the video but i thought of a white lemur
Darn! Better luck next time, Ben.