Have you ever wasted money running ads on Facebook? I have wasted lots of money!
That was before I started to dive in and learn about Facebook ads: how I can really use them the right way to gain more customers and leads for my Box. Once I did that, it was a game changer.
When it comes to running a successful business, it’s vital to have a steady flow of new leads and customers coming in. And when it comes to getting those new customers and leads, Facebook is the way to go. No longer do we have to spend thousands of dollars on direct mailers hoping to get a few customers. With Facebook, our potential clients and customers are just a few clicks away.
That’s why today I want to share with you four tips you can use right now to step up your Facebook marketing which will not only save you lots of time and frustration, but money.
Do you know what your average customer value is? If not, figure that out before you start to run your ads. It’s so important that you know your numbers because that is what will allow you to scale up your advertising.
Say you are offering a 21-day deal for $50. Now, let’s say that it costs you $20 on Facebook to get that customer. Is that good? Absolutely. Now let’s say it costs you $55 dollars to get that customer. Is that good? At first glance some people would say, “No way! I’m losing $5 to get that customer!”
But here is the thing: If you know your retention rate on that special offer – and let’s say your average lifetime customer value is $1,000 – does spending $55 to make $1,000 over the lifetime of that customer seem like a great deal? It sure does.
Know your numbers and that will allow you to scale big on your ads.
We’ve all seen those commercials from Serta – you know, the ones with the sheep. When you watch these commercials, what are they selling? The sleep. They talk about how you will be able to sleep more, feel more rested and have more energy. And oh by the way, those results comes from using their mattresses.
If they tried to sell the mattress by saying it has great springs, they wouldn’t sell. Same goes for your Box. If you try running Facebook ads that are promoting a free class or Clean and Jerks and Snatches, guess what? Those ads won’t be performing well. However, if you focus on the results of losing weight, having more energy, feeling and looking better, the response will be much higher. People are not up late at night looking in the mirror and thinking, “I really wish I could do Snatches!” or “I really wish I had a free trial class!” No, they are wishing they looked better, weighed less and had a better body.
That’s what your ads should focus on and then, “Oh by the way, these results are achieved through CrossFit.”
When running ads, your targeting is important. I like to think about my “avatar” in my gym or in other words, who is my ideal client and customer.
How old are they? What do they like to do for fun? What TV shows do they watch? Are they married? How far will they drive to get to my gym?
Take a piece of paper and write down all of those things, then use them in your targeting. I’ve found great success targeting movie interests, celebrities, tv shows, etc. Think outside the box.
Back when direct mail was popular, it was said that a person had to see something seven times on average before they bought it. As you can imagine, seven direct mailers to your community would add up to big money.
With Facebook, you can do that for a lot less money by pixeling all of your pages. A pixel is a simple code that captures a person’s information and allows you to target them specifically with another ad. This is extremely powerful because let’s say you have someone go to your checkout page, but they don’t buy your offer. Bummer right? Well if you have a pixel on that page, you can now retarget them with an ad saying, “Did you forget to check out? Click here to complete your purchase and claim your spot!” That’s pretty awesome.
It’s an amazing time that we are in as business owners as being able to reach potential customers has never been easier. Be sure to use these four tips in your Facebook marketing campaigns and keep learning, because once you master Facebook marketing, you can control your destiny.