How often have you heard (or maybe said), “Facebook ads don’t work” in the last year? I get it. You feel that your product is worth its weight in gold and you’ve done everything the gurus have told you to. Yet no matter how many hacks or tactics you implement or how much split testing you do, results aren’t coming.
That does suck! And you’re probably thinking to yourself, “there has to be a better way!”
You know what? You’re right. Instead of me saying that Facebook ads are easy and that they work, let’s focus on what matters:
Showing you how to fix your current results.
Countless times now, a new client has come to me with a detailed report of how they “wasted” money on ads that didn’t produce any sales. Here’s an example that’s easy to relate to.
For example. One client “tested the waters” with €50 on FB ads and she deemed it a failure because she got a reach of 3,462 and 3 Link clicks.
The conclusion she made came as a result of her ignorance, because when I dug deeper to understand her intention behind the campaign, it was clear to me that she had made some rookie mistakes. This was one of the better stories I’ve heard.
A crazier one was when a client said they had spent $4,700 for a lead generation campaign, which only produced 50 low-quality emails that led to no real business value. In both cases, Facebook appears to have failed these two entrepreneurs. The hard truth is that they are the ones who suck at understanding the nature of the Facebook game.
I intend to help change that for you because it really doesn’t matter if Facebook advertising is the best and most underpriced advertising solution for small business owners. It doesn’t matter if running Facebook ads is easy. It only matters that:
You can run Facebook ads in a way that feels sustainable and which also produces results.
You can develop a mechanism that is profitable, repeatable, and scalable.
The process that will give you the power to do this long-term requires insight and a mindset shift. In this article, I focus more on the insights you need to be able to put the right process in place for your business. And they are:
• You need to know how much you’re spending to bring someone into your eco-system.
• You need to know the value of every new prospect turned buyer.
• You need to understand the art is just as necessary as the math to win on Facebook.
• And lastly, you need to craft a thoughtful process that romances your prospect and takes them from cold stranger to a hot buyer in love with your brand.
Let’s break down each of these insights.
Insight #1: Get to know your cost per prospect.
If you don’t know how much you’re spending to get someone into your audience and deeper into your eco-system, then you won’t be in business for very long. What I consider a prospect is what regular marketers call a lead.
Understanding the math and knowing your numbers is vital for Facebook success. Once you know your numbers, you can make informed decisions and determine whether an ad is actually performing well or not. Entrepreneurs see arbitrary numbers like $0.70 per click or $5 CMP and get excited because they assume that means an ad is doing well.
But does it really?
Sure it sounds like you’re not spending much money but just because you’re not spending a lot doesn’t mean you’re making money.
I’ve run ads where the cost per lead was $50. Most people would gasp in horror until I revealed that the earnings of that campaign was worth $35,000 per new client! Yes, read that last sentence a few times, which leads me to my next insight.
Insight #2: Get to know your earnings per client.
In other words, get to know how much a converted prospect is worth to you. Back to the example I just shared above, getting the attention and contact details of that person who would invest $35k into the offer that awaited him or her was worth spending three times the dollar amount it actually took.
Now don’t get me wrong, we didn’t spend $50 by accident. It took a lot of prep work and storytelling, but at the end of the day, because we knew how much our clients would hand over to us through our funnel, we were willing to go above the usual numbers.
Again, knowing what those numbers are will give you the confidence needed to pump cash into Facebook without freaking out prematurely. Most people freak out or set unrealistic expectations because they are flying blind.
It bears repeating: I’m not saying you should be spending less than a dollar or even fifty dollars to acquire a client. I’m insisting you figure out the right math for your business and know your numbers so you can intellectually know when an ad is performing well. Math never lies.
Insight #3: The art is just as important as the math when it comes to Facebook ads success.
Now that you get that the math is vital, here’s another insight you need – the ad creatives are just as important. Gary Vee says big companies are bad at math and small companies are terrible at art.
What I am encouraging you to do right now is to sit with your team or hire a consultative strategist and figure out how to do both well. On Facebook, the game is best won when math and art are aligned.
Insight #4: Create a thoughtful strategy that turns a cold stranger into a hot buyer in love with your brand.
Notice that I say brand, not business. Brands work the best on Facebook, but unfortunately, most entrepreneurs are only thinking short term. Facebook isn’t designed for the bottom of funnel sales and direct selling.
When you use ads to target a cold audience that’s never heard of your brand, hoping they will immediately buy your product or services, you’re no different than a used car salesperson. The reason used car salespeople got a bad rap is that we don’t like that unnatural and forceful approach.
And yet you want to do the same thing to someone else just because you can’t physically see him or her?
The entrepreneurs that are winning are creating an experience through their Facebook ad strategy. They are using what I call my superpower – storytelling.
And they are doing it in such a way that it attracts, engages, and connects the person consuming the content. If you’re in the habit of “rushing things,” you will have a hard time building a business that lasts a long time through Facebook.
Facebook advertising is still one of the best and fastest ways to grow your brand and increase revenue. However, you need to educate yourself on the nature of the platform.
These are just a handful of insights I’ve shared from a long list that you really ought to be aware of. If you are struggling with Facebook ads, I can assure you, it isn’t the platform that’s broken, and it’s certainly not because of a lack of audience. It’s your approach and mindset.
Get a change in perspective, and start making the right moves that will enable you to start succeeding with your campaigns.