Facebook advertising is a powerful tool — an efficient way to connect your business to qualified prospects and clients. And they work whether you’re in the office or out. But Facebook marketing is evolving. And as it evolves, so should you.
Going back a few years, you could run a Facebook ad that would go to a sales or checkout page and it would make you money. It worked then because “Sponsored Posts” were new to the users’ news feed. Users thought they were engaging with you and didn’t realize that a sponsored post was actually a paid advertisement.
Today, those Facebook users are much wiser. They view these sponsored posts as an invasion of their news feed, a nuisance. And tactics that worked just a few years ago no longer work with the more sophisticated user. This is why you need to adapt and become more creative.
Gone are the days where you could rely on old tactics and hoped they worked. You can no longer be gimmicky.
For example, people have caught on to the fact, if you say that want to give them a free workbook, that it’s just a tactic to get their name and email address. Yet marketers still rely on this today and pretend like they’re not trying to sell anyone anything. And essentially everyone offers a free workbook, free checklist, free webinar. So why should someone even bother with yours?
So what do you do? You have to change. You have to differentiate yourself. How do you do this?
Stop making the most common Facebook Ads mistakes.
First and foremost, stop being gimmicky. Be upfront with people because that’s what they want.
We hear a lot about transparency these days. People want to know everything, and they don’t like or want to be tricked. If you’re going to offer a free workbook or free checklist or free whatever, be honest and upfront with people. Let them know where you’re leading them to from the start. Be transparent because that transparency builds trust.
Another common mistake is copying ads that don’t work. Just because you see someone running a particular ad, it doesn’t automatically mean that it’s producing any positive results. There’s a low barrier to entry with Facebook ads. Anyone can run them — anyone. Some ads work, and some don’t. But don’t automatically assume that they do.
Don’t even assume a specific ad is working for any of the big marketers simply because they’re big marketers and they’re spending sometimes thousands of dollars on an ad. Just because they’re spending that kind of money doesn’t mean that the ad is converting into leads or sales.
How do you know whether your Facebook ad is actually working or not? Through metrics. And there are two sets of them you should use, raw metrics and internal metrics.
Raw Ad Metrics.
Start with raw ad metrics, especially if you’re offering a freebie. Raw metrics are things like conversion cost, click-through rate, etc. They’re metrics you can easily measure without doing a whole lot of analysis.
First look at whether or not your ad delivering. When you run an ad, is it actually reaching people on Facebook?
Make sure your ad is getting pushed out there by Facebook. If it’s not, it might be because your audience is too small, so make an adjustment to increase it. The other thing that may adversely affect your ad’s delivery is a glitchy Facebook update. It happens. And when it does, you’ll need to scrap the ad and start over again from scratch. If there’s still a problem after that, contact Facebook Support. Just keep a watchful eye on your ad’s delivery.
Next, are people clicking on your ad? Your click-through rate should be between one to one and a half percent. A click-through rate of 1% means that every time someone sees your ad, at least one out of 100 people is actually making it to your landing page.
Lastly, check your landing page conversion rates. When you’re marketing a freebie, you want to make sure you’re converting anywhere between 30% to 40%.
Internal Ad Metrics
For those campaigns where you’re looking to earn a profit from a product or service that someone actually pays for, use internal metrics, like cost per lead and earnings per lead.
Cost per lead (CPL) is how much it’s costing you to acquire a lead. So every time you get a name and an email, how much does it cost you? You won’t know this until you’re actually spending money on ads. And that cost is different for each industry. Generally speaking, a CPL is going to be more expensive with a B2B model than it is for a B2C.
Next is earnings per lead. It’s important to know the value of each lead you’re bringing in. Let’s say your service or product costs $250 and has a conversion rate of 2%. What that means is for every 100 leads, you have two sales and make $500. So when you run your analysis, you learn that each lead earns you $5.00 ($500/100 leads).
By knowing your earnings per lead, all you have to do to make money is make sure that your cost per lead is lower than your earnings per lead when you’re running ads. Are you spending more than you’re earning?
Keep in mind that these aren’t perfect metrics. They’re a guide. They help you make better business decisions based on how much you earn per lead rather than making them on how much an ad costs. So instead of thinking that you need to spend X amount of dollars and get as much as you can out of it, you’re now looking at spending money based on the cost of acquiring a lead and the value of your customer. It’s a more educated decision.
Generate Higher Quality Leads
So earlier I mentioned that we have a much wiser Facebook user today, and old tactics are not as effective as they once were. People don’t want to give you their name and email address when they first encounter you. So now what?
You have to evolve and build a better lead generation system. When you build a better lead generation system, you’ll find three things take place:
- You’ll end up with higher quality leads;
- Your mindset shifts from focusing on list-building to bringing in those higher quality leads;
- Your cost per lead eventually goes down over time.
Now keep in mind that your list will not grow as quickly this way, but that doesn’t matter. It isn’t about building your list anymore. It’s about the quality of your leads. And that’s where your money is.
Your Lead Generation System
Facebook is a social media platform. It’s all about relationship building. You want to build that relationship with your audience first before you even think about asking them for their name and email. And there are a number of ways you can do that.
Offer a Quick Tip Via Facebook Live.
Facebook Live is “the thing” right now. According to Facebook, it gets more reach and 10 times more comments than regular video. Use this to your advantage. Try taking 2 to 5 to even 10 minutes and give your audience a quick tip. It requires very little commitment on the part of your audience and has the highest likelihood of being seen because its format — video. It also contributes highly to the transparency factor because there’s nothing you can do to make live video perfect, and people like that. They like seeing the real you.
And remember, doing a Facebook Live isn’t about giving as much as you can in those few minutes. It’s about providing value with one key tip. This could be an industry secret or a way that you’ve found to make money for you and/or your clients or something that got good results. And you can do this whether you’re a B2B or B2C.
Provide a High-Value Blog Post
So during your Facebook Live when you’re providing your valuable tip, you’re also encouraging your audience to head on over to your high-quality, long form blog post if they want to learn more. You want to make sure you’re telling them about it and provide the link with your Facebook Live.
And when they head on over to your blog post, make sure it’s packed with valuable information they can really use. You don’t want to send them over to a skimpy 350-400 word blog post with four or five tips. No. You’ll lose them. You’re directing them to a solid 4,000 to 5,000 word blog post. Make it something substantial and lead with value. Give them something you’d charge money for, but don’t.
Now you’re standing out. You’re no longer immediately directing them to an opt-in form and asking for their name and email address right away, as you most commonly see. You’re providing value first… real value… and you’re building trust in the process.
Because its large size and the time it takes to ensure quality, consider providing a blog post of this type on a monthly basis.
Now what if your viewers don’t head over to your long form, high-value blog post? Facebook allows you to then turn your Facebook Live viewers into a targetable audience so you can then market your blog post to them.
Time for Your Content Upgrade.
The journey so far…
- You’ve provided a quick insider/industry tip;
- Your audience has viewed that tip and has access to valuable information;
- You’ve provided them valuable information via your long form blog post; and now…
Now you’ve earned the privilege of asking for their name and email address. And this is the purpose of your content upgrade. A content upgrade simply expands on the information you’ve provided in exchange for their information. And since they’ve followed you along your journey and are still with you, they trust and like you and are more likely to be forthcoming with their information. You now have a high quality lead.
One more thing about your Facebook Live video. Make sure you’re not only mentioning the link to your blog post in the video, but that you’re also mentioning the upgrade there. Let them know that if they want to take what you’re providing them in the blog post to the next level, there’s an upgrade (checklist, workbook, etc.) to help them do that, too. You want to have that level of transparency.
What if they don’t take advantage of your opt-in at this point? Again, you retarget them just like you did when those who watched your Facebook Live didn’t go to your blog post.
So now you have their name and email address. What’s next?
Put them through a very simple email funnel and continue building a relationship. Over the course of the next two weeks or so, send them five to seven emails that add a bit more value each time and let them know about a related product you’re selling.
The key to all of this is that you’ve done all the hard work up front and provided your audience with something of value. You’ve warmed your audience up even before they get onto your email list. You gave them a reason to be excited, so now they’re looking forward to working with you. It not only makes for a better experience for them, but for you as well.
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