Are you focussing on the method or the metrics?
Are you concerned about how long your video should be or what image to put in your Facebook ad?
As Todd Brown explains in his latest podcast, if you are doing that than you are thinking like the average marketer. You should be focussing on the metrics instead and start thinking more like an investor. By that he means figure out what your maximum Cost Per Action (CPA) is.
The single most important key to growing your business is the answer to this question:
What can you afford to invest to acquire a new customer?
If you don't know what you can afford to spend you can't really make any decisions about your business. Even if you are just starting out you have to determine what you can invest at this point to get a customer into your marketing funnel. Meaning what is this customer worth to you now.
Ideally the whole purpose of being in business is that as you deliver value and nurture your relationship with your customer (or subscriber as you are building an email list) they spend more money with you and so their future value goes up. As such they become an asset to your business.
Let's say that a subscriber to your list will make you 35 dollars on average in the next 3 months.
What would be the smarter thing to do?
Pay 1 dollar per subscriber?
Pay 10 dollar per subscriber?
What if you know upfront that that subscriber will bring in 200 dollar in the coming year? It then becomes a no-brainer to pay up to 35 dollar for that subscriber. You break even on the front end and reap the profits later on.
On a higher level you would even consider going negative to get that customer, wouldn't you? If you know you are going to get 200 dollar from someone in the next twelve months it makes sense to buy that customer for 40 bucks.
That is what buying traffic is all about and that is why you need to start at that level of paying more than your competition.
Here's that 30 minute podcast again