Let me begin with a question first –
Do you currently have a business and want to start investing on digital / online ads like Facebook Ads because everyone says it is very cheap and it just works somehow?
Have you been reading or looking at videos online where people say they are making crazy money through Dropshipping or Amazon Fulfillment using Facebook Ads online?
Welcome to the club! It is NOT as easy as people claim it to be, however, that does not mean you are doomed, read along to find out how successful online marketers do it.
Your chances of running a successful Facebook marketing campaign depends on your Facebook Marketing Strategy and campaign mechanics.
Let me be downright honest and explain what I mean.
I am not going to throw a bunch of stats on your face about how many “Active Monthly Users does Facebook Have?” or “How it is cheaper to advertise on Facebook”, instead I want to help you reflect on your own business and actions first.
Ask yourself – “Why Facebook Ads for My Business?”
More importantly, “How will Facebook Ads help me make money?”
Before you open your wallet and enter those magic numbers of your credit card to “Boost” your post, you need to understand this first –
“How will your product or services help make the customer’s life better?”
More importantly, do you know what phase of the sales funnel is your potential customer currently at? Why should they buy your product or services?
The key to having a successful ad campaign that generates revenue is asking the right questions first. So let me ask you –
Do you know what is a Sales funnel or a customer journey?
The likeliness of someone buying your product or services the first time they see your Facebook ad is very low. It is like buying an ice cream from a complete stranger in the street, you would not just do that would you? No one knows what is in that ice cream.
It is imperative that you know the following-
- What is a Sales funnel?
- Creating a Sales funnel that converts = $$$$$
When you buy a product or a service from a new vendor, what goes through your mind? Do you completely trust them to deliver what they promise?
Similarly, when you show your ads to a target audience, you cannot expect them to convert immediately. Cold Leads need to be nurtured, loved and cared into warm leads before they convert.
How does your typical lead move through your Marketing Sales Funnel? Here is a simple illustration –
The initial contact to your target audience can be made through various ways. It might be an amazing blog post available online, or you might have a Google Search Ads running, or it can even be a advertised post in Facebook that is driving traffic. The target audience in this phase are called “Cold Leads”, they are aware of your brand or services, but they are not your best friends or Good Ol Pals to buy your services yet. You have to build trust and create a relationship with this type of audience.
Some of the previous “Cold Leads” might be interested to learn more about your brand, products or services. They might even search around your website, read more of your blog posts or contact you to request more information. These are called “Leads”, it is important to have a system to collect information about your leads. They have showed intent to interact and build a relationship with your brand. Either by taking an extra step to reach out to you or by giving your their contact information. What do you do? Collect their information and get them started in the magical journey to know your brand well.
At this phase of the funnel, you warm up to your Leads and provide them value. Since they have given you their email address or contact information, you can approach them directly to provide any or all information that helps them make their life easier. Establish a strong relationship with emails, video and informative articles. You want your leads to engage with you and get more information from you – to trust your brand.
After you have developed an interactive relationship with your Lead, and they have warmed up – started trusting your brand, you can provide them information on your products and services. This is when you close the deal and have them purchase the product. Business is done. Now depending on the Lifetime Value (LTV) of your customer and the products and services you offer, you can initiate another conversation.
The entire process of a customer interacting with your brand is called the Customer Journey. And each time the customer interacts with you is called a Touch Point. So make sure your brand is represented consistently in the same way each time the customer interacts with your brand – this Consistency helps them trust you more.
But hold up, does each customer have to go through this funnel?
It depends on your industry and the phase of the target audience.
Hey! This funnel thingy looks like a long and daunting task, I have limited budget and this sales funnel thing seems like it will cost me a lot of time and money! How do I make my ad spending create the most impact?
Well, there is a way to hack this funnel –
Is your target audience in the “Decision” or “Action” phase of the sales funnel? Or are they more on the Awareness / Interest part of the funnel? It is important to know this because it plays a vital role in controlling the ad spending.
If my target audience is ready to convert and buy a product right now, my ad budget is better spent focusing on conversion (Decision + Action) than spending the money on increasing Awareness. For example, if people are in google searching, typing for terms related to “Buy” or “Order” then they are actively in the Decision / Action phase. This type of audience is more likely to convert with a slight nudge or push. However, the target audience fixated on the Awareness and Interest part of the sales funnel have lower chances of conversion. Mainly because the audience needs to be educated and persuaded to invest in a certain product or service.
If you are an independent business owner, SOHO or a SME, then you want to focus your ad spending on audience that converts and start generating revenue immediately. Since we do not have the luxury of having a high ad spending budget.
So how do we move forward?
Brainstorm how your business benefits from spending on Facebook Ads focusing on people who are likely to convert
Read the following and get everything ready / setup!
By now you have figured out who you are going to advertise to and what you are planning to advertise. Before you launch any ads or spend a single dollar advertising your product and services, make sure to read the following carefully! Not only will it help you give insights into the world of online marketing, but also creates a solid foundation for you to become a marketer who can deliver “Consistently”.
This might be the most theoretical and academically sounding article that you might find in our blogs, however, it is quintessential to saving you a significant amount of marketing investment.
If you did not know this yet, the most important requirement for a digital marketer / social media marketer today is to have an actionable and measurable plan that goes from Point A to Point B while generating constant leads to grow the business.
So, what does it mean to have an actionable or measurable Facebook Marketing Strategy for your business?
You should know by now that successful campaigns are not a one-hit-wonder that start winning the first time it is launched – that rarely happens. Success campaigns are an outcome of learning from shortcomings, pivoting, measuring, building on what works and eliminating what does not.
Establish a Benchmark
- Evaluate where your brand currently stands, if its starting from zero – its okay. Everyone at some point starts from scratch, but set a defined and distinct goal regardless. There will be newer metrics in the next iteration.
- Make sure to record the metrics, have a benchmark figure to check progress later
- What are you trying to accomplish with the marketing activity?
- Make sure you have a specific fixed number in mind. If it is your first year of business you might want to make $100,000 in sales, write it down somewhere you can consistently see it – it helps motivate you and drive you towards your goal
- Write down what success looks like.
Plan & setup tracking data
- Setup a system to track your marketing plan to measure each step of your campaign so that later you can see what is working and what is not working
- Plan your marketing campaigns based on your goals, data and information you currently have. Do not act on a hunch or gut feeling, find numbers to support the hunch.
- Track your audience, find out their behavior. The more you know about who is going to buy your products or services, the higher your chances of successfully communicating your unique value proposition to the target audience. For example, if you have a clothes and apparel business, it might be easier to sell in Instagram compared to Facebook. Stalk your competitors and learn what they do successfully.
- How does your sales funnel look like? How will your target audience go from Awareness to Consideration to Purchasing your service or product? Moreover, how will you be influencing their decision at each part of the sales funnel?
- Execute your plan, let your digital tracker do the magic
- Sit back, relax and make any fine tune adjustments required
Review Your Performance
- Analyze your campaign performance and continue doing what works
- Stop doing things that went wrong, pivot and make corrections
Repeat the winning strategy
- Now you know what works, and what does not. Start a new cycle of ads or a new campaign with what you have learned. With each iteration of your advertisement cycle – your Facebook Marketing Strategy will keep getting better.
Congratulations, your foundations are now set. If you utilize the above thought process, you are more likely to run successful advertising campaigns consistently.
So now, you have the mechanism and concept in mind. How do you setup your Facebook Marketing Strategy with a proper sales funnel and Facebook Ads as the main driver?
Check out our next blog on how we setup our Facebook Ads to implement the above sales funnel.