You probably believe that those most successful advertisers spend a lot of money on ads and have a large team of people working behind the scenes to make the magic happen.
But in reality having a big budget or a large staff is not a prerequisite for success. With the proper knowledge and planning, you too can rake in the dough using Facebook Ads.
While creating a FB Ad campaign may be very simple, creating one that is profitable takes a lot more work and planning. In this article I will break down the process of building a profitable Facebook Ad campaign so you can capture your share of profits in any field or industry.
Step 1: Know Who You Plan to Target
The targeting capabilities on Facebook is probably one of the main reasons why advertisers play there. Facebook has such an arsenal of ways in which you can target, the fact is anyone could find their ideal customer on the platform. You can target based on the following:
- By Age, Gender, Interest, Location, Behaviors, Income, Industry, Occupation, Education, Ethnicity, Relationship Status, Homeowners, and more. (Photos courtesy of Social Media Examiner)
Also you can come to the table with your own audience to target by creating custom audiences. There are 3 types of Audiences that you can create:
- Custom Audiences – Where you can create based upon website traffic. When you create this type of audience you will add a pixel to your website and Facebook will build an audience based upon website visitors. You can also build a custom audience based on past customers or FB ID’s from groups, etc.
- Lookalike Audiences – If you have the email addresses of past customers Facebook can create a lookalike audience of FB users with similar demographics.
- Saved Audiences – If you have created previous ads and saved the audience that you targeted, FB will keep the saved audiences as a custom audience that you can later use for future ads.
Because of the unique ways in which you can target your customers it is important to know who your ideal customer is; therefore it is imperative to create your customer avatar before you get started advertising on Facebook. This will help you with targeting and will also help you to get cheaper ads.
One of the first places to look for your target market is your Fan Page of course. These people have already said they “Like” you, so it’s hard to go wrong when you start there.
Tip: The number one reason why most ads don’t convert is because you’ve targeted the wrong audience.
Step 2 – Have a Sales Funnel that leads up to a High Ticket item.
You’re going to lose money every time you place a Facebook Ad if you don’t have a Sales Funnel that leads up to a High Ticket item. Period! I’m sorry to be so blunt but it’s true.
If you just stop at a Free Offer, you’re going to dump money down the drain. You’ve heard the saying that “the fortune is in the follow-up.” Well, that saying should be that “the fortune is in the sales funnel.”
If you’re anything like I used to be when I first started out, then you probably believe that all you need to be successful online is a list and if you place an ad and give something away then your job is done.
Well, the fact of the matter is, this is just the first phase of generating profit. No one goes into business to give everything away. You shouldn’t either.
Immediately after giving away your free item, you should have a one-time offer (OTO) or upsell. Preferably more than one. Then you should have a follow-up email series designed to lead your customer up your value ladder to your high ticket item.
When you set up your sales funnel this way, you can spend $500 on an ad and if you end up earning $1500, which yields a $1,000 profit. It just makes sense.
Step 3 Analyze Your Results and Scale Up
At the end of the day, you want to profit from your FB Ad campaigns. In simple terms when you EARN more than you SPEND, that’s called having a positive Return on Investment (ROI). Engagement such as likes and shares, let’s you know if your activity is expanding your reach and all of that is great, but sales conversion is everything.
There are one major thing that you can do to assist in increasing your results and it is to split test everything, such as creatives, ad copy, sales buttons, audiences, etc. When you find out which of these items work better, switch to the higher performing ad.
Why do this? Because anytime you can squeeze more money from your campaigns you should do it.
After you test what works best and have gotten to your best ROI, then this is the time to scale up. All the while you’re running ads you want to re-invest some of your profits. Keep scaling up until your business turns into a six-figure or more profit generating machine.
If you implement these three steps into your Facebook advertising strategies, then you will definitely be on your way to achieving amazing results.
If you want to learn more about FB Advertising, then pick up our Facebook Advertising Kick Butt Triple Pack, which includes 21 Facebook Ads Case Studies, Facebook Cheat Sheet and our Facebook Ads Process Map. When you’re armed with these three things you cannot go wrong and you will be well on your way to a six-figure business all as a result of Facebook.