I remember when Facebook had a hard time monetizing. Now, they’re crushing it. Why? The dynamics of human psychology. There’s a shift. People don’t know what they want. If they did, Google would be winning. That’s why Facebook is now winning. Google will have to tap into the pull feed method more than the search method if they’re going to continue dominate with their websites. You are seeing them do a little bit of that with YouTube, but they have to come out with some platforms that cater to people’s interests better. Google Plus hasn’t really caught on as well as they hoped.
The newsfeed on Facebook is magical because relevant content of the people and friends closest to you comes directly to you. You don’t need to search for people’s names. That’s why other social media sites lose. They rely on you to know who you want to look for. LinkedIn even needs to do a better job at showing you who you want to connect with.
Tap into the power of info that comes directly to you and start advertising with Facebook. Its cheap to test and you can see some great returns.
Retargeting ads work best.
This is where someone visited your site, almost checked out and you serve them ads prompting them to complete their order.
Repeat visitors are most likely to purchase and you can set it to pay per click and make the description copy very specific to only attract clicks from serious buyers.
The only thing you have to be careful of is how much additional you are spending to convert them. You already paid to acquire them as a prospect. So you’re double paying for them to become a customer and you may already have their contact number (email, phone, address).
You can market to these people through email, text, phone call, and direct mail but they’re most likely scrolling through Facebook. Go to where their attention already is instead of trying to divert their attention away and keep it focused elsewhere.
This is why Super Bowl Ads Work so well. People WANT to watch the commercials.
You just need to monitor your spend and create metrics to know that you won’t spend above a certain threshold
So let’s say I am selling a widget for $97.
And it costs me $20 to manufacture this widget.
That means I have a $77 profit margin.
So if I spend $76 to acquire a customer I am still profitable (so long as I considered that $20 manufacturing cost I calculated includes my total overhead).
Let’s say I run a Facebook ad and it costs $12 to gather an email.
That means I can spend up to $64 on a retargeting ad to still maintain a profit.
The best case scenario is that you get that $12 cost per email down to $8 and you figure out a way to hit them through email, capture their phone number, and their physical address and you retarget them on your own without having to pay Facebook again.
However, most people spend a lot of time on Facebook.
I do find that a combination of emails and Facebook works very well.
You have to bring awareness to what you do through multiple angles. The more presence you have in multiple mediums, the more people believe that what you have to offer is real.
Think about it. When you see a commercial on the super bowl for BMW, you don’t buy right then and there, but when you’re in the market for a car, BMW pops up in your head as one of the locations you want to take test drives at.
Great marketing is about presence.
Most of us don’t have big budgets to do advertising like that though. I understand that. Trust me.
Here’s how to make sure that the advertising you spend actually converts.
Run an ad that’s very specific
This way you don’t waste clicks.
For instance, if you’re running a retargeting campaign.
Run a test with copy that’s specific to “you almost checked out…go back here to complete your order”
That way someone’s probably not clicking that if they’re serious about buying.
If you are tight on money you need to run ads that prevent tire kickers, people who are just curious about your offer.
Also, matching the ad colors and style to the landing page actually does make a difference.
If you want to attract new customers, use lookalike audiences. You can basically upload a list of your customers and Facebook will cross-reference their interests with new prospects.
If you don’t have many customers, target your competitors fan pages. Odds are their fans will like your material and content as well. It’s always a win-win, not a win-lose. Them liking you doesn’t mean they have to like someone else.
You also want to try different ads for cold traffic as opposed to warm traffic.
Certain videos and creatives will perform well to people who have been pre-framed to know what it is you do as opposed to someone who has no idea what you do. Constantly test, save the data, and revise it.
Best of luck. You can always hire me to help you out as well 🙂
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