The profit formula is simple:
Revenue minus costs.
And in this post, I’m going to explain how you can decrease your costs and increase your revenue using Facebook advertising in a HIGHLY profitable way for your business.
Now, if you don't know me, I've spent hundreds of thousands of dollars running winning Facebook ads, so I know a thing or two about how to optimize campaigns and how to use social media for network marketing.
And no matter what type of business or opportunity you're promoting…
This post is for you, if you…
- a.) want to pay less for every new lead and customer, and
- b.) are either currently using Facebook to build your business, or want to get started immediately (which, needless to say, is a pretty good idea!)
Okay, so you might already know that…
Facebook is the most popular traffic platform
And for good reason too.
- Facebook ads are inexpensive compared to the competition.
- Facebook's reach into the global marketplace is unparalleled (with well over a billion users).
- And Facebook traffic effectively CONVERTS clicks into customers.
…if you know which metrics to keep your eye on.
In this post I'm going to focus on the factors that impact your…
- Cost-per-click, and
Basically, these metrics indicate the number of visitors to your site, and how many of them take subsequent action (like signing up for your newsletter and purchasing whatever you're selling).
These are basically my go-to metrics.
Because, after all, the primary reason entrepreneurs use Facebook ads is to convert visitors into customers through a sales process (instead of…say…running ads for the purpose of branding).
The psychology of advertising
Before we dive in, there's a trap you need to watch out for.
Which is this…
Advertisers often get disappointed when they run campaigns that don't immediately produce the results they're looking for.
And honestly, a lot of “newbie” entrepreneurs assume this process is easy.
They assume that you can, say…
Simply give Facebook a dollar and expect three back without actually knowing how to use social media for network marketing.
And that the money's just going to come rolling in right as soon as you place an ad.
Well, let's be honest for a moment…
And talk about the problem with this way of thinking.
So here's the thing…
Sure, Facebook is THE most powerful tool to help you reach your ideal audience…
…but it's not magical.
…it will not force your visitors to sign-up or buy your product.
It's YOUR responsibility to convert your visitors!
I get asked one specific question a lot:
Why didn't this campaign create conversions?
And my usual answer is…
“I'm not sure, because quite frankly, there's a long list of reasons why your campaign likely hasn't worked out.”
So without further ado…
Here are the six basic factors that you need to understand to get better converting campaigns on Facebook.
Let's face it, the product needs to come first.
You can create the perfect campaign, with the perfect eye-catching image, well-crafted copy, and a great landing page…
But NONE of that matters if your product stinks.
So take a look at your product and compare with what's available in the marketplace.
- Is it good?
- Is it great?
- Or is it outdated?
It's not 2008 anymore!
It used to be easy.
It used to be enough to whip up a simple eBook, with a crappy title and hardly any formatting, exported from a Word document.
Today, however, your offering’s got to be significantly better.
You MUST have a well-polished, thoroughly-researched, and aesthetically-attractive product to effectively convert.
So if you're not getting conversions, start by taking a long, hard look at your product.
Does it measure up to stuff that's really selling well in the industry?
If not, that’s problem #1.
Do not proceed until you fix this fundamental flaw in your model.
Your product, while very important, is closely followed by your audience.
You can run the perfect campaign for the perfect product…
But it absolutely will not convert unless it reaches the right people.
So understand that there's a large audience of people at various stages of “willingness to convert,” and you can't hit them all with a hard sell if you don't really know how to use social media for network marketing.
What do I mean by that?
It's essential that you group your audience into specific segments, based on their awareness of your offer.
There are three groups…
1. Cold Traffic
Cold traffic is everyone who isn't familiar with you, your product, or opportunity…
Yet shares related interests.
This is the VAST majority of the market.
And, if we're being honest…
Most of them are going to completely ignore your ad.
Because they don't know enough about you or your product to trust you, yet.
Some will have an interest, though.
And a small percentage is going to buy.
Impossible to say with certainty, but…
Average cold traffic conversion rates are in the 2%, maybe 3%.
…if you're marketing effectively.
The cold market just doesn't have any familiarity with you or your business yet.
So you must reach them with the right message, at the right price, at the right time, when they're in the right mood, all before they're going to purchase.
2. Warm Traffic
Warm traffic includes everyone who already knows you, your product, or opportunity…
But hasn't bought from you yet.
This is a very important group of people.
They've visited your website, maybe they've liked your Facebook page, or are even on your email list.
They already know enough about you to form an opinion—hopefully a positive one!
A large percentage of this group is interested what you have to offer.
So a much larger percentage will buy.
Sure, they aren't all ready to buy yet.
Many need to be nurtured and agitated a bit to purchase.
But if you reach your warm market with the right message they are much more likely to buy.
The third group are those who've bought from you before.
This is a small, yet extremely valuable group of people.
They know who you are and all about your business from first-hand experience.
As a result, they're likely to have a really strong opinion about your brand and your product.
Ideally, this is the kind of person that buys everything you sell.
They don't necessarily care about the specific marketing message.
They just know they love you.
If you're doing things right, they know you put out quality stuff, so they'll buy it—whatever it happens to be.
Of course, they're a VERY small percentage of your email list.
But at the end of the day, they're a very valuable percentage, because you don't really have to sell them on anything…
They just buy your stuff without hesitation.
Needless to say, these people are your bread and butter.
Okay, so those are the three segments of your market.
When you're matching your ad message to your audience, it's essential that you know how to use social media for network marketing and identify exaclty which group you're targeting.
Moving on to the next most important aspect of your ad…
You always need to work on copy.
Sometimes long copy works, sometimes short copy works.
There's no universal “right” or “wrong” here.
But know that copy profoundly impacts the performance of your campaign.
Now, your audience determines your copy.
Here's what I mean…
Should your copy be conversational, professional, use slang, or use no slang?
Well, that depends on the audience.
If somebody's just thinking about starting an online business, they're not going to be responding to dry, boring, “professionally textbook” copy.
Instead, you'll want to be conversational.
You might even want to get a little “hypey” to catch their attention.
On the other hand…
If you’re pitching to people who’re already in the business, but haven’t yet bought from you…
Then you can get more technical and dive into the nitty-gritty.
Always keep this in mind…
You’ll get better results by talking to people “on their level”…
Whether they’re total novices or veterans in the biz.
Next let's talk about the ads themselves…
Some things about images are easy.
First, you want to make sure your image size is appropriate.
All you have to do is Google “Facebook images sizes,” and tons of information will come up.
That's step one.
Quality is also important…
- Is the image fuzzy?
- Is the text there easy to see?
- Does it make sense?
- Does it grab the users attention?
Now, I'll tell you this…
In my ads, what works really effectively are…
1. Pictures of an audience or pictures of somebody on stage.
It piques people’s interest when they're cycling through their news feed.
“Oh, wait, what is this? Is this a new event? I want to know more about this.”
2. I’m also finding that stock photographs and illustrations are getting less effective.
People are bombarded with them all the time, so they just don't catch the eye.
Here's another tip…
If you have personal images from your business, you might want to use those to stand out from all the “cookie-cutter” ads out there.
Now let's get a bit technical…
If you want your ads to convert—and I know you do!—then always make sure you use the “link ad” type.
If you're not familiar, here's an example:
Link ads include a ton of clickable real estate.
Any click on the thumbnail or description will lead to your landing page, which is where you want people to go.
Because let's face it, if people aren’t going to your landing page, then what’s the point of the ad, right?
Some marketers might think that a boosted photo post with a link in the description will work.
But I disagree (and I've got years of data to prove it).
This dramatically reduces conversions, and it's a clear indicator that some people don't know how to use social media for network marketing.
It’s creating an extra obstacle between you and a new lead, and that's not good.
I see people do this all the time, and quite frankly, I don't believe they realize what they're doing.
So save yourself from missing out on an opportunity to convert…
Always use link ads.
Your landing page is where the traffic “lands” after they click.
In the “olden” days, this was typically a capture page.
But today, direct response-style blog posts are the most effective and highest converting type of landing pages.
Okay, so here’s a quick checklist for your landing page:
- Does the landing page follow through on your ad’s promise?
- Does your ad match what they're getting on the landing page?
- Is your copy too long?
- Is it too short?
- Does it sell too hard?
- Does it not sell at all? (Hint: if you're not selling in your landing page, they're not going to buy)
- Is it confusing?
- Does it look too professional?
- Or does it look not professional enough?
- Is there a clear call to action?
- Is it optimized for mobile devices? (A lot of my sales are from mobile these days, so this is extremely important)
- Does it ask for too much information? (For example, are you asking for a name, address, and phone number? A lot of times you're going to get a higher conversion rate if you just ask for the simple email, then try to build the relationship from there.)
These are all things you want to think about.
I know that’s a lot of questions, but you want to be thorough with your landing page.
You could have the best ads in the world, but still have a dreadful cost-per-conversion if you get a few things wrong on your landing page.
Okay, that wraps up our list.
Hopefully all the above makes sense and you're ready to start taking action on what you've learned today!
What you've just read are…
The top ways to minimize your CPCs, and maximize your profitability
Here are the six factors that impact your cost-per-click and cost-per-conversion:
- Post type
- Landing page
Now, may I make a suggestion?
Because here's the honest truth…
It can take a fair bit of costly trial and error to optimize all these metrics and create a winning campaign.
And what will you do to convert your traffic into leads?
You're in luck because I do know a proven shortcut…
Which has helped dozens of marketers make conversions fast!
Just sign up for Elite Marketing Pro's FREE 10-Day Online Recruiting Bootcamp to find out how to…
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Until next time,
Elite Marketing Pro
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Latest posts by Matt Baran (see all)
- How to Combat the Rising Costs of Facebook Advertising - July 5, 2018
- The Six Most-Effective Targeting Methods to Use on Facebook Right Now - February 8, 2018
- 5 Key Factors of Becoming a Successful Affiliate Marketer on Facebook - February 1, 2018