If I think back, I have always had a love for sales. Not because of the selling aspect of it (I actually hate selling products to people), I just enjoy solving problems. That’s what sales has always felt like to me. I would have someone come to me with a problem and I would help them with a solution, which in turn just led to a sale… And of course, meeting and talking to some great people because I would always end up building relationships with my customers or clients.
Now with the start of my own business again, I find my passion has grown to a new level, but this time it’s more of a:
❛How can I find people with a problem? And how can I find a way to help them?❜.
So marketing has become a big thing for me. I would watch video after video. Read book after book and search article after article. But it’s all in the name of love! Some people like to read romance novels, others like to read fantasy. For me, I’ve never been much of a book reader… but when it comes to self-improvement material, I’m quite the fan and at times I just can’t get enough.
So in my readings and searches, I come across a lot of people struggling with Facebook ads. If you are in marketing at all… in any shape or form, then you are most likely either using Facebook ads or planning to use them.
It’s really amazing how many people are afraid of Facebook advertising! Yet, the forecast from market research company eMarketer shows that Facebook will make $33.76 Billion in Ad revenues.
Which just goes to show that there are PLENTY of confident advertisers out there!
So what’s making them so confident? Well for starters, they aren’t just creating ads and waiting for sales. For a lot of companies, “Making a Sale” immediately isn’t the overall decider if a campaign is a success or a failure. So before you start throwing money around on Facebook and hope something will work (which usually just ends up frustrating and often not a good result), let’s take a look at what we can do to make Facebook ads work for you.
The first thing I have noticed is people focus too much on the front end investment figures. Paying the lowest possible cost upfront and then hope they’ll get an endless flow of leads. Don’t get me wrong… I’m all for trial and error. But you should put more calculation into it. So in other words, learn how to measure your return.
There is something that your business needs to do, and that is work out the cost per lead that makes sense for your business. To calculate that part, you need to focus on the big picture. It’s really important before you start Facebook ads to have a clear understanding of your goals. What action do you want your customer to take?
For example, let’s say the goal is to have a customer purchase a product from your eCommerce store. You think, “I will place an advert, and send the customer directly to the product I’m selling” … This would be a mistake.
You want to back up and select the right starting point. You want to start with something called a “Tripwire” or a “Hook” – a small, one-time offer… You can give the customer a discount voucher for the product if they opt-in to your mailing list right away from the Facebook ad. Now you have them in your Funnel… which means you have them as a lead. More importantly, a lead you can retarget for free via email, allowing you to continue to nurture them with offers, newsletters, and promotions. If you don’t do this step, you are pretty much-wasting advertising dollars. If they came to your website directly from the ad but they just didn’t feel comfortable making an impulse buy, then you have lost that customer. If you follow the tripwire tactic and get them into your funnel, then it’s not all lost. The fact is, people rarely purchase a product or service the first time, so if you are able to stay in contact with that person and get them to know you and like you (and of course trust you), then that lead will come back and buy from you.
Another important thing to know is your audience because Facebook ads need to be targeted to a specific audience. The tripwire can be used to test different audiences and work out which is converting best. So the goal shouldn’t be to generate revenue from your tripwire – the revenue will come later from products or services you sell down the track.
This is what a lot of BIG companies are starting to realise. The big players who are currently advertising on TV or in magazines will start (some actually already have) to advertise more and more on social media and especially on Facebook. They understand that with Facebook advertising and coupled with the “Tripwire”, they can spend advertising dollars, capture customer information and continue advertising to THOSE PEOPLE. You see, once they have given you their email address, they are NO LONGER A COLD LEAD… they have given you permission to contact them.
Well, I do hope this has been somewhat helpful… I don’t want to go on too much with this, so I might make this PART 1 and if you find this useful, let me know and I will do a “How to Really Know if Your Facebook Ads are Successful – PART 2”, which will share more information on Facebook Ads.