Categories
Facebook Internet Marketing

How Much Should You Budget For Facebook Ads?

 

So you’re getting ready to launch your new course, program or service and you know you want to use Facebook ads.

How much should you budget for Facebook ads?

In this blog post, I’m going to share with you exactly how to crunch the numbers so you can be prepared.

First, your budget depends on the price of what you’re selling and your sales goal. Let’s say you want to sell a course priced at $297 and you want $10K in sales.

How much do you spend to hit this sales goal?

First, know your typical conversion rate. If you’ve ever had sales from a sales page go and take a look at how many people visited that page vs how many units purchased.

100 (visitors), 10 units sold = 10% conversion rate

If you do not have any data yet, then go with the average online conversion rate of 3% (some say 1% – you choose).

With this data in hand, you can now determine how much traffic you need to send to your sales page.

Note: When launching with Facebook ads you will usually build your email list first and then send them to the sales page (and towards the end of the launch you can retarget your audience and send them directly to the sales page).

If you want 10K in sales then you need to sell 34 units ($10,000/$297=34).

If you plan for a 3% conversion rate then you need roughly 1150 people to land on your sales page because 1150 x .03 is 34.5.

Ad costs vary depending on warm or cold traffic and a lot of other factors such as targeting, ad copy and images, offers, and messaging . Realistic lead costs can range between $2-10 depending on the market, time of year, and what you’re offering.

Note: not everyone who gets on your email list is going to land on your sales page, that’s when you use retargeting ads to send people to your sales page.

So with the ad cost range above, you can expect to pay between $3,400-17,000 to get those 1150 people to your sales page. If you already have an audience built up it will likely NOT cost this much. But it’s always good to be prepared!

Download this calculator and crunch your numbers! 

Now that you have crunched some numbers, you won’t be caught off guard with a huge bill from Facebook AND you are in a better place to make important decisions UPFRONT such as:

  • Increasing the price of your offer
  • Making sure your ad cost stay low
  • Increasing your conversion rate

Now it’s your turn to put together a realistic Facebook ad budget for your upcoming launch!

 

PS – Get better results with The Social Proof Ad Method. Download it here!

Categories
Advertising Facebook

FB Ad Strategy To Warm Up Cold Traffic (And Lower Lead Costs)

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The more I work with clients and Facebook ads the more I realize how much TIME and STRATEGY plays a big part of the overall ad success.

If you’re using Facebook ads (or want to)  – what is your goal?

Your goal is what everyone’s goal is – to get a Return On Investment (ROI)!

Unfortunately, many Facebook advertisers DO NOT get a return on their ads.

Why? Let’s take a look at a typical path of most new(er) Facebook advertisers who run online businesses…

  • They have an amazing program or service they want to sell
  • They hear webinars are GREAT for selling more stuff
  • They know they need traffic and hear about the success stories of using Facebook ads
  • They watch a few free webinars and/or videos on Facebook ads
  • Set up a Facebook ad that promotes their webinar and wait…
  • Get discouraged because hundreds of people are not signing up for their webinar
  • Get frustrated because they are spending more money then they thought they would
  • Freak out and give up 🙂

Does this sound familiar to you?

I see a few problems with this path.

First, while you could watch a bunch of free videos you are still left to figure things out by yourself.  Get help from someone who understands Facebook ads.

Second, most new advertisers do not set up ads in a strategic way. They advertise their webinar to anyone and/or everyone and if they don’t have an audience built up yet then the only option is to target cold traffic.  Sending cold traffic to your webinar works…but it’s EXPENSIVE!

And finally most new advertisers do not give themselves enough TIME to actually test audiences in order to get a good campaign going.

What should an advertiser do instead? Turn cold traffic into warm traffic as quickly as possible.

Here is one way to do it…

1. People need to first know you exist and learn more about what you can do for them. Set up a Traffic campaign that promotes your best content (no opt-in).
2. Set up a Custom Audience for this page/post.
3. Retarget the people coming to this content with a Conversion campaign offering another related piece of content (cheat sheet, checklist, something simple) so they get on your email list.
4. Follow up with emails. On about the third email send them to your webinar or the webinar replay.
5. Set up another Conversion campaign to promote the webinar to the people who opted into your freebie offer (the simple cheat sheet, checklist, etc.) but didn’t sign up for your webinar yet.
6. Keep the campaigns running for a few weeks to collect data.
7. Optimize the ads based on the data.

Now in this above scenario you are warming up your cold traffic by sharing some good info with them and then asking them to grab a simple download or training that fits with the info they just consumed. After that, you send them a couple of value packed emails and then invite them to a webinar training you have (also related to the info they just consumed).

Now you are targeting warm traffic with your webinar promotion….which means more people will likely sign up and the cost per lead will be less expensive. This definitely works especially if you give yourself enough time to test audiences. When you do this 30-90 days prior to launching, you’ll see a much more profitable launch.

Try it and let me know how it goes!

Download the 5 Must-Have Facebook Ads To Grow Your Audience And Skyrocket Sales During Your Next Launch!

Categories
Advertising Facebook Freedom Strategy

How To Grow Your Audience Fast With Facebook Ads

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If you want to grow your business online, you need traffic. You have to get in front of the people who need/want your products and services. There is just no way around it.

You can either hustle and network like crazy (have you gotten sucked into the vortex of Facebook groups – ugh I know how that feels) to get in front of the right people OR you can use paid advertising to get front of the right people.

As you probably can tell, I’m a big fan of FB ads! Of course, it’s great to network, just not alllll day every day.

Today I want to share with you a GROWTH strategy that you can implement in your online business by using Facebook ads starting TODAY.

This is the perfect strategy to funnel people into your world. 

Here is how you do it (I’m assuming you’ve run at least one ad before and you are at least some what familiar with the ad manager and power editor and have your Facebook pixel installed):

STEP 1 – Create a helpful blog post that is also very relevant to what you are selling. This blog post has to be ‘good’ (share worthy and something your ideal client/custom WANTS/NEEDS help with).

STEP 2 – Create a “Clicks To Website” campaign targeting your ideal clients/customers – the goal is to get in front of a lot of people. The bigger the audience the better (we are casting a wide net). Your budget should be at least $10 per day.

STEP 3 – Create a Custom Audience for the blog post URL.

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STEP 4 – Create your own Facebook group.

STEP 5 – Create a Lead Magnet that is related to the blog post. Create an opt-in page and thank you page. Let everyone know about your Facebook group on your Thank You page.

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STEP 6 – Create a Custom Audience for your Thank You page URL.

STEP 7 – Create a Custom Conversion for the Lead Magnet.

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STEP 8 – After running the initial ad for a couple of weeks (keep it running), you should now have a few hundred people in your Custom Audience for this blog post. Create a new campaign for your Lead Magnet (website conversion) and target these people with the ad…EXCLUDE Custom Audience for your Thank You page (this won’t matter at first, but after a while you don’t want people who already signed up for your lead magnet to see ads for it).

STEP 9 – In the first email, give them the link to their freebie and remind them to join your new Facebook group.

At this point you can scale – increase the first campaign budget or set up new ad sets that target new audiences or do both.

So what is happening here exactly?

Traffic pours into your website, you target those people who have shown interest in your topic/blog post to sign up to your email list. You then tell them about your new Facebook group. Every day new people are coming to your website, signing up to your email list and requesting to join your new group without you doing anything else!

The sky is the limit…now what will you do with this growing audience?

Helping you 10X your audience growth,

Lisa

PS – Is this overwhelming to you? Get help inside my new Facebook group here!

Categories
Advertising Facebook

5 Ways To Split Test Your Facebook Ads

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Running Facebook ads has really taught me to never assume anything. It’s actually a great lesson that can be applied to so many things. But one thing is for sure…don’t assume your ad will rock right out of the gate. You must test your ads!

You might be thinking, okay, great but first… HOW do I split test? The easiest way to do this is to pick one thing you want to test and set up your ads with that in mind.

For example, if you are setting up a new campaign inside the power editor and you wanted to test between images then you’ll create one ad, duplicate it, and change one of the images. You can let both run and let Facebook do it’s thing. You’ll soon see in your reports which one is a winner.

So now you might be wondering what types of things should you test. Here are 5 things I test:

Your offer – This is HUGE. Not all offers perform the same. You have to test a few different offers to see what really resonates with your market. Recently, I tested two different freebie offers in the same market, dealing with the same topic. One converted for $4+ per lead and the other converted less than $2 per lead. I was surprised because the offers were not that much different! So make it a point to test your offer – even the angle or the way you say something. A small tweak can make a big difference.

Your audiences – Some audiences convert better than others and you’ll never know unless you test. Again don’t assume because you are targeting an audience you are familiar with that you will get the results you’re looking for. Create an ad, duplicate it at the ad set level and only change the audience to see which audience performs better.

Your landing page – Not all landing pages are created equal. If everything is performing well with your ads, but you aren’t getting sign ups/sales (depending) then start testing your landing page. You can test by creating two different landing pages (change the headline, sub-headline, the image, the button/call to action, etc.). Create one ad, duplicate it at the ad level and only change the destination URL.

Your images – Some images get a great response and others don’t. If your ad isn’t getting results then test a few images. Your images should grab the attention of your ideal client/customer as they scroll through the news feed.  Here are some tips:

  • Use bright colors that stand against the normal colors of Facebook (blue, black)
  • Use images that provoke emotion and appeal to your ideal clients (totally depends on your market but – smiling happy women, beaches, luxury, yummy food, etc.)
  • Be creative, funny, outrageous even (within TOS of FB obviously) – the point is to grab attention
  • Test between 2-3 images when setting up a new campaign (test between types of images too – a photo? a cartoon? a graphic design?)

Your copy – Is your copy compelling enough? The purpose of your ad copy is to pull the reader in and get them to take an action. Test different one liners and calls to action! Test between long and short copy. Clear copy is best.

Alright, that’s enough info to get you started. Let me know how your testing goes!

Happy Testing!

Lisa

 

Categories
Advertising Facebook

How To Create A Rockin Successful Facebook Ad

Are you ready to get better results from your Facebook ads? Watch the video to learn more about how to create your ad…

One tweak and Renee is getting much better results from her ad!  Untitled design

 

Need help with your Facebook ads? Learn more about how I can help you here.