Share this content
0
476

Marketing

Didn't find your answer?

Search AccountingWEB

A stand at Accountex caught my eye called the Entrenpreneurs Circle.  As I plan to expand my business this year I had a chat with them.  On reading a follow up email I'm rather shocked that this will be a staggering £3000 a month although they do seem to do the whole caboodle.  Maybe if I was turning over 200k I might consider it but it also got me thinking, what is the expected ratio of spend to return?  I've done 2 advertising stints in the last 4 years, first  I spent about £600 on yell.com and received a staggering amount of £0.00 in return, and the second, an ad in the local magazine over 10 months costing £420 gained me 3 new clients, 2 of which are still with me 4 years later, so that more than paid for itself.

Replies

Please login or register to join the discussion.

avatar
06th May 2019 14:23

legerman wrote:

this will be a staggering £3000 a month although they do seem to do the whole caboodle.  Maybe if I was turning over 200k I might consider it

You'd spend 18% of your turnover on it? I'd want some pretty cast iron guarantees of success before spending that kind of cash!

Thanks (0)
avatar
to Accountant A
06th May 2019 16:11

Accountant A wrote:

You'd spend 18% of your turnover on it? I'd want some pretty cast iron guarantees of success before spending that kind of cash!

I agree, but if the return was right then it's a good investment. I have absolutely no idea if that's the case nor will I be pursuing it further.

Thanks (0)
06th May 2019 15:02

Is £3k a month after their fantastic discount?

Thanks (0)
avatar
to FirstTab
06th May 2019 16:12

FirstTab wrote:

Is £3k a month after their fantastic discount?


No, I suspect that comes next :-)
Thanks (1)
avatar
06th May 2019 16:06

You might wish to try spending a bit of targeted advertising on Facebook around where you are based. That can be quite cost effective.

If I were to be an accountant I would see MTD as an opportunity to get new clients for example.

Thanks (0)
avatar
to johnhemming
06th May 2019 16:17

johnhemming wrote:

You might wish to try spending a bit of targeted advertising on Facebook around where you are based. That can be quite cost effective.

If I were to be an accountant I would see MTD as an opportunity to get new clients for example.

Yes, that's going to be my main target. New website should be ready by the end of May then I'll use FB in conjunction.

Thanks (0)
By marks
06th May 2019 23:13

I spoke to them as well as accountex however out of our budget and we turnover about £250k a year.

We are members of entrepreneurs circle and we pick up different ideas of what marketing to do from them. Their offer includes doing everything to save you doing any of the heavy lifting.

Suppose if it generated at least £3k a month would be worth it but no marketing company can give such a guarantee.

We are also a member of 2020 and they advise to spend 3% of GRF on marketing. In our case that is £7500 a year or £625 per month. We probably spend about that in marketing over the year; we have the following each month and then have one off stuff during the year.

Outsourced marketing support £150/month
Yell.com £100/month
Google Ads £75/month
Direct marketing £75/month
Entrepreneur Circle annual pass £100/ month
Tracker £25/month
Unbiased £20/month
Buffer £8/month

As a guide they say that for every £1 spent on advertising you should be looking to get £1 in new business (of course clients come back year in year out so assuming they stay 10 years that is a £10 return to £1 spend over the lifetime of the client).

Thanks (1)
avatar
to marks
14th May 2019 12:23

marks wrote:

As a guide they say that for every £1 spent on advertising you should be looking to get £1 in new business (of course clients come back year in year out so assuming they stay 10 years that is a £10 return to £1 spend over the lifetime of the client).

Snipped your post for brevity but very useful info. Thanks Mark.

Thanks (0)
to marks
14th May 2019 12:36

Interesting to see you spend money on yell. My experience was similar to the OP, £0 return. What's your return with yell?

Thanks (0)
avatar
07th May 2019 11:28

please do some research on Nigel Botteril first before parting with any money or signing any contracts.

Starting point should be my little wrapper, thebestof, some parish mag type thing and the entrepreneurs circle. All franchises and many many unhappy customers (customers as in franchisees as well as end users) edited to clarify, I think some business customers may initially have done well out of thebestof. There was a huge thread on the ukbusiness forums in the members section as I recall

Thanks (1)
14th May 2019 11:00

I spoke with them too. They are only interested in working with accountants already turning over at least £100k pa

If their starter package is indeed £3k a month I doubt they'll have many takers. But maybe they only need 2 or 3 to make the whole thing worthwhile.

Thanks (0)
14th May 2019 11:55

I spoke with them also.

They were talking about they get you several meetings per week with qualified prospects.

Depends how quickly you want to grow if you are spending £36k on marketing what does success look like. £100k to £150k worth of fees?

The risk I guess is that you are 3 months in and spent £10k and your meetings have not produced anything as I imagine the results are not instant as they are on about building new websites, social media, building sales funnel etc.

Thanks (0)
Share this content