The first time I saw behind the scenes of a major Facebook Ads campaign, it was back in my agency days. The client was Starbucks and I remember being really excited to learn the insider secrets of how a huge campaign (for a huge company) was managed. I pulled up a chair and had a pen at the ready, looking forward to writing down all of the goodness the campaign manager was about to throw my way.
After watching the campaign manager open Power Editor (yes, they used Power Editor because Facebook changes their functionality at such a rapid speed that it's a fool's errand to use anything else)... I waited for him to do something mind blowing... but in actuality.... it was super straightforward. This huge campaign had a simple campaign structure, with pretty simple targeting, and a pretty simple coupon offer. No magic unicorn dust, no fancy tools.
Here's where I'm going with this..... after seeing behind the scenes of many high profile brands' campaigns while in agency life, and after actually working with many clients on my own under the banner of Digital In The City (and helping them to make over $1 million in sales and counting). I've learned this simple fact: there is no magic formula for profiting from Facebook Ads, there are just a few tried and true principles. Here they are.
1. You Need A Path To Profit Before Spending A Dime
This is the biggest factor in profiting from your Facebook Ads. You need to have a plan for what you will do with the traffic you're getting from Facebook. It does NOT need to be complicated, but it does need to be clear. How will you turn your traffic into a lead? How will you turn your leads into sales? If you're struggling with either of those questions, download my How To Profit From Facebook Ads Guide (it's free). It will walk you through the ONLY three funnels you need to create a sustainable online business. Every single one of my clients who made mega bucks on their Facebook Ads campaign had a version of this in place.
2. Start Slowly AND THEN Speed Up
It can be tempting to try and cash in on the Facebook Ads gold rush right away (by spending a ton of money on a brand new launch funnel for example and hoping it all works out). And while it's true that Facebook is providing small business owners with the ability to scale and grow faster than ever before, it also requires a bit of time to master. I always recommend that clients start slow if their funnel is brand new. It never hurts to put a bit of a test budget through the funnel and when you SEE that people are buying, you can start ratcheting up your ad spend. That's when things start to get fun. Many of my clients know that for every $1 they put in, they'll get $5, $10 back. At that point, it's like being at the casino and ALWAYS winning.
3. Love Your Leads And Love Your Customers, Because Then You'll REALLY Profit.
You've likely heard that it's easier to keep a customer than to get a new one, well it's also true that it's easier to sell to warm traffic (people who are on your list and have been nurtured by you) than to sell to cold traffic (people who don't know who you are or haven't had a chance to build a relationship with you). Without fail, the clients who perform the best and make the most money invest in their relationship with their leads and their customers all year round (not just during their promotions). And as a result, when they launch a new service, program or offering, their list and their customers are CLAMORING to buy. Often, my clients will see that people will come back to purchase #allthethings and so the value of that customer (the lifetime value) extends past the first purchase that person makes to the second, third and fourth purchase. As smart marketers, we need to lay this path for them and you can see just what I mean if you download my How To Profit From Facebook Ads Guide.. once you've got this part down... it's just rinse and repeat.
P.S. I'm sure some of you will say: "But what about re-targeting ads, lookalike audiences video ads, messenger ads (insert new shiny object here)?" The truth is that these are just TACTICS and if you don't follow the core strategies/principles above, no video ad is going to save you. But because I'm a nerd, you can be sure that I'll cover those tactical how-to's in upcoming posts. ;)