All About Ad-Abacus & WHY we created it.
Being an Entrepreneur is no cozy throne to be sitting in. It’s not always as easy as it appears. It takes a lot of studies and planning to be a successful entrepreneur. If you are an entrepreneur yourself, you can easily relate to the troubles that are about to be mentioned here in this article.
Well, first off we all know the basic qualities of an entrepreneur. The ones who are not aware of the same can keep reading and others may want to skip to the end of the bullets.
A successful entrepreneur:
• Loves what he does: Nobody would give their time and effort into something that they don’t believe in. Hence, an entrepreneur basically needs to love what he does. Otherwise he is wasting his time.
• Plans everything: A successful entrepreneur is a successful planner. You may get away with small things with the traditional trial and error methods but once you are into serious business, you need to have a game plan.
• Trusts himself: Confidence always brings the best out of you.
• Spend his money wisely: Expenditure is the biggest challenge that a budding firm will face. Hence, putting your money to the best possible use is what makes an entrepreneur successful.
• Is a great Delegator of Duties: Being an entrepreneur doesn’t mean that he will do everything alone. It’s the ability of a person to delegate duties among his employees that makes him a better Boss. Moreover, a great entrepreneur will have a great team under him.
So, as we are pretty much aware about the Good Qualities of an Ideal Entrepreneur, let’s get to the point. Though the above mentioned are a set of the best practices and skills for a successful Entrepreneur, we can’t just force ourselves to be perfect. It is through experience that a person becomes a professional. It is a myth that you can learn to be a professional from reading a book or by learning it from school. The real challenge lies in learning what your job demands you to do. And only in this way you can teach yourself to be a professional in your field; because experience is not the same for everyone even if they are all doing the same job.
A common factor that most of the young entrepreneurs find difficulty in handling is the expenditure of their company. During the different operational, execution and marketing activities, many entrepreneurs end up making the wrong choices with the money they probably earned through investments and revenue.
Well… nobody is perfect; let’s admit our mistakes but not make any more of them.
So in order to help you out with your company’s expenditure in marketing, we introduce a simple but powerful tool. The tool is named AD-ABACUS. This tool is an exclusive product from an entrepreneurial success which is named Webricots; a company that started in 2012. It has been a great success in fields of web development, content writing, social media marketing and SEO.
In simple words, AD-ABACUS is a tool that calculates the amount suggestible for you to spend on your business. The tool is named after ABACUS, which is the most ancient form of calculator and often considered to be the first device used to compute numbers. In other words, it could also be considered as the first non-intelligent computer to be used by mankind.
The name AD-ABACUS means Advertisement ABACUS; that means this is the first of its kind tool about how to calculate your expenditures on marketing your products online.
The tool helps you calculate how much money you should be spending in your online marketing by giving you exact figures about your LTV, CAC, Pay/Sign up, Pay/ Click and Click Through Rates. That makes pretty much everything you need to know about your online marketing campaigns. Our intelligent algorithm gets you the best practices in spending your valuable money on advertising in different levels on the internet. The outputs AD-ABACUS give are very much effective and absolutely reliable.
Now don’t let the over-priced ad agencies be the villain in your business. Figure out your expenses by yourselves with AD-ABACUS.
What’s LTV, CAC blah blah blah?
Oops! Almost forgot to explain that.
Lifetime Time Value (or LTV)
LTV aka Customer Lifetime Value (CLV) aka Lifetime Customer Value (LCV) simply is a prediction on how much a customer is of worth for his/her lifetime to you. In other words, LTV is a prediction of how much is the profit a customer can be to you in the entire future of your relationship.
Why is LTV important?
It is important because, the amount you spend on a single customer has to be greater than the amount he/she returns you by using your product. Spending a 2$ every week for a customer who only spends only $10 every month on your product cannot be profitable in the long run.
Customer Acquisition Cost (CAC)
Customer Acquisition Cost is the cost spent in convincing the customer of buying your product/service. This cost is inclusive of the expenses of research, marketing and accessibility. An entrepreneur should know about CAC because your total cost has to be convincing to the customers, retailers (if present), and has to be competitive with the cost of the similar products in the market.
Now the advantages of calculating your CAC through AD-ABACUS helps you have some advantages. It helps you come up with effective advertising and attractive pricing which in the long run will help you have more customers.
Just like its name Budget/Sign-up or Pay/Sign-up is what you intend to pay the ad agencies to get sign-ups. The pay will be dependent on the number of sign-ups you get on your website. Here the most important thing is to know ‘how much’ you should pay the ad agency per each sign up.
The value of this factor can be adjusted according to the demands of the ad agency you are in contact with and according to your needs in advertising. However, you are not supposed to be spending more or less. You just have to spend it right so that you get your job done in a realistic price. Hence, calculating your Budget/Sign-up cost is crucial.
With the tool we are providing, it helps you get the best feasible amount you can pay an agency for the Pay/Sign-up they are demanding.
Similar to the Budget/Sign-up, Budget/Click lets you know how much you should spend on each click you are receiving in your website that is in relation with the product you are selling in the market.
Your ads get a lot of clicks depending on the ad agencies’ intelligent tricks that they use in their ad-service activated websites. But if you look at your sales in comparison with the amount of clicks you get on your page, you can know how much of those clicks are fruitful and how much of them just bounces off. Or in other words, how many customers accidentally reach your page and how many of them comes with real motive of getting your product/service.
Knowing how much, the clicks in your website mean to your product’s sales will help you understand how much you should spend on your clicks.
AD-ABACUS again tells you the best practice to be followed rather than wasting your money in pointless gambles.
Just like Budget/Sign-ups and Budget/Clicks there is also another factor called Budget/1K Impressions. Impressions simply mean who ever have had a first impression on your product. Anybody who has scrolled away, navigated away, or maybe even simply saw your ad have had an impression of your product.
This could end up in three out-comes:
1) No Sign up and No Click
2) No Sign up but click
3) Click and Sign up
Since there will be a 90% of them who will be of the first category, Impressions might appear to be of no use. However, it is important because it always gets your product recognition among at least 50% of those people who belong to the first category. Moreover, it is these people who might later on check out your product once they feel the need of it’s service.
Our tool helps you to calculate the amount you can spend on this factor to get the best results.
There is always a saturation level for advertising above which, anything you spend will go in vain. The basic requirements of a product have to be quality, availability and advertising. It is the balance among these three factors that makes the most out of your sales. Spending too much and spending very little in advertising will end up in negative results. Hence it is more important to make use of our intelligent tool to get your expenses on the right track. To use Ad-Abacus, please visit – adabacus.webricots.com