What Was This Session All About?
Facebook Ads can be highly beneficial to your business when you know how to use them. But should you just throw something out there and see what happens? The answer is no. There is a process you can use.
Emily Hirsh is a lead marketer and has had great success with Facebook Ads. At T&C, she shared her secrets and strategies to make ads work. She discussed how to determine what to spend, how you should test, and create goals.
Before we dive into what Emily shared, let’s take a look at who she is.
Who is Emily Hirsh
- CEO of Hirsh Marketing
- She is a leading digital marketing strategist.
- Her company is one of the fastest-growing marketing companies.
- Her companion workbook to this information is available on hirshmarketing.com/workbook.
- You can connect with Emily at hirshmarketing.com, on Instagram @emilyhirsh, and her podcast, Hirsh Marketing Underground Podcast.
What We Learned
Does This Sound Familiar To You?
- You don’t understand all of the components of a successful marketing strategy, and you often find yourself wasting time and money “shooting in the dark.”
- You’re overwhelmed with all of the ways to market and don’t know where to start.
- You don’t have enough time to implement what you need to with your marketing and consistently feel bogged down and overwhelmed. You’re determined to create a thriving business, and you need a plan that you know will grow your business.
- You thought you had figured out a marketing strategy but quickly realized you were way over your head. Maybe you’ve tried to run ads or create a successful marketing strategy and been left feeling like a failure.
You’re in the Right Place If…
- You’re ready to make your most significant impact and contribution to your audience with the right message and strategy.
- You need clear direction to implement a strategy that works and gets you excited about your marketing every day.
- You value growing your business from a holistic perspective, where everything works together, and your followers become paying customers.
- You’re ready to have a marketing and Facebook ad strategy that you understand, you’re confident in, and you can see your business numbers growing due to that strategy.
By The End of This Training You Will…
- Understand the #1 foundational strategy you must complete before you start running ads. Without this completed, you will be wasting money.
- Know the exact ad budget you will need to spend to achieve your sales goals.
- Know every metric you need to track with your ads, what they mean and what you should do when you’re not hitting your goals in specific places of your marketing strategy.
Marketing Always Works when you have the right strategies and commit to the proper process.
Secret #1: Your Marketing Strategy Must Be Built on a Solid Foundation
Facebook Ads cannot save you from a broken foundation. They are here to amplify what is working. You’ll be wasting your money if your foundation is broken So, start with a solid foundation.
The Foundation Should Consist Of:
Knowing your ideal customer better than anyone else in your industry.
To reach potential customers, you must speak to your ideal customers' dreams, fears, frustrations, and most significant objections. You should aim to know your customer better than anyone else in the industry.
Creating a strategy specifically for that customer that effectively sells your offer.
Stop using templates and “funnel hacking” other people’s strategies without considering your audience and offer. What works for one audience may be a complete disaster for yours.
Instead of trying to replicate the “hottest” and “best” strategy (which doesn’t exist), ask yourself this question: What experience does my ideal customer need to go through to become a buyer?
View your strategy as an experience, then create that experience. For some, this means a free challenge. For others, it’s a video series or a webinar, or both. Maybe you sell a physical product, and so you need to show strategic videos on Facebook to warm your customer up and then a specific ad to your top-selling products.
Your strategy must be unique. It must stand out. And it must take into consideration your audience and offer.
Setting sales goals that determine your ad budget and define what success means for your marketing before spending money on ads.
Before you spend money on ads, you must define your goals and metrics. This means you should never be spending money and boosting posts or “seeing” what happens. Be intentional with your strategy.
How much do you need to spend on ads to achieve your revenue goals? Many times people will choose this number without considering their sales goals.
Step 1: Identify Your Sales Goals
What is your revenue/sales goal for the first 30 days of running paid ads? How much do you want to make in monthly revenue?
Step 2: Identify How Many Sales You Need to Hit Your Revenue Goals
Calculate how many sales you need to make a month to reach that goal.
Formula: Revenue goal/ Cost of offer = # of sales you need to make
Example: Revenue goal is $30,000
Cost of offer is $1000
I need to make 30 sales to achieve my revenue goal.
Step 3: How Many Leads (digital products/services) or Landing Page Views (eCommerce/SLO funnel) Do You Need, Based on Standard Sales Conversion Rates to Achieve My Revenue Goal?
Now you know how much you need to spend to achieve your goal. Continue with this exercise until your sales goal matches the budget you’re willing to pay.
- If the budget is too high, decrease your sales/revenue goal.
- If the budget is too low, increase your sales/ revenue goal.
Secret #2: Test Your Ads Before They’re Funded and Gather the Data You Need to Spend Your Budget Smartly
People might try to sell you the idea that you can create a million-dollar marketing strategy in 30 days. Emily won’t, because you can’t. But you can create a six and seven-figure marketing strategy by committing to testing and refining the strategy.
To get to the next level, regardless of where you’re now, you need to invest in your marketing. Everyone starts on the same playing field and has to take this step.
As soon as you can start getting people in your funnel or customer journey, then you can figure out what is and isn’t working and make your strategy profitable. Marketing always works. It’s a matter of when and how much optimization is required to get there.
More and More People Today Are Struggling with Their Facebook Ads, and Here is Why…
They don’t know how to test and make decisions with their numbers and data appropriately.
The only way to [predict your marketing results is to test and buy data properly.
What Your Facebook and Testing Process Should Look Like
- Set aside a testing budget and get at least 100 people through your funnel (Ideally more). Emily generally recommends this testing budget be $500 per month.
- Know that this is a testing budget with a pure purpose to get data to move to the next step. You must choose a budget that you are okay not making back right away.
- Run ads using this budget and get as much traffic to your marketing funnel as possible. Take that data and allow it to tell you where you need to improve and what is/isn’t working.
- Fix the holes and improve what isn’t working.
- Continue to run traffic to your funnel and monitor the gaps you’ve identified. Are they improving? What is still not working? What action do you need to take to improve it?
- Repeat this until you’re profitable, and then continue to scale your ad budget and profit.
- Choose a budget you are comfortable using as an investment in your business growth.
- Create goals that make sense with that budget
- And then spend the budget to gather data and make future decisions and improvements to your marketing.
Regardless of when you decide to invest in your marketing and spend money on ads, you have to make this leap at some point to get to the next level. Nobody can get around it.
Entrepreneurs often throw their hands up with their ads and marketing because they think they are failing when testing is part of the process.
If you “failed,” you should have gotten data and feedback from that “failure” so you won’t do it again. That is part of the journey to success and can be done strategically.
When Testing Ads, How Many Ads/Campaigns/Versions Should You Test?
There is no one answer.
General Guidelines (Remember, Every Business is Different)
- Three Different Versions of Ad Copy
- 2-3 Different Images or Video Versions
- One Audience per $10-15 of Daily Budget
Secret #3: Uncover the Pro-Level Analysis System Emily’s Team Uses Every Day to Make Strategic, Data-Driven Decisions that Massively Increase ROI
Once you’re running your ads, you’ll be gathering data that will help you make future decisions. Even if you’re not running ads, these metrics will help you know what to track and look out for once you start.
In marketing, most decisions should be based on numbers and should be very intentional. If a metric is saying “this,” then you do “that.”
Pay attention to these significant metrics and stop at the first one that is hot hitting the goal. Fix that gap and then move on to the next.
Cost Per Click on Your Ad
If your cost per click is too high, nothing else will work.
The three reasons your cost per click is too high are:
- Your ad copy and creative is not converting or resonating
- Your targeting is off
- Your offer you’re sending people to from your ads (even if it’s a free offer) is not attractive or clear enough.
Your Landing Page Conversion
- 25-40% for a free opt-in a funnel format
- 3-7% for a product sale conversion.
If your landing page is getting traffic but not converting, you have one or more of these issues.
- Your copy on your landing page is not resonating or strong enough.
- You lack credibility or authority in the landing page copy.
- Your landing page design is not optimized or clear. You lack a professional design and clear calls to action or buttons.
- There is a disconnect between your ad messaging and the messaging about your offer on your landing page.
This is where there will be the most differentiation between businesses.
- 1-5% of all leads depending on the price of your product and audience (digital product or service)
- 3-5% of all buyers of your first product purchase something else or additional quantities (eCommerce)
If your leads are not converting to sales or additional sales, you have one or more of the following happening:
- Your messaging is not strong enough. You’re talking more about the offer than what the offer does for the person interested.
- Your offer or offer positioning is not clear or enticing enough.
- The value of your offer is not being communicated effectively and adequately.
- There is a disconnect between the action they just took and the offer you’re selling.
You must track your ads against your goals on a daily, weekly, and monthly basis.
The key to successful marketing is to be intentional and strategic with every step you take. You don’t have to just throw random strategies or ads out there and hope they work. You don’t have to guess what your next steps will be. Follow this process, and your business growth will begin to happen almost immediately.
Your marketing is always going to be an ever-evolving and growing piece of your business. You can wait for perfection or wait until you have “this one thing.” But you just need to start taking steps to move forward.
Follow these exact processes and steps you were just given. The worst thing you can do is not make progress after today.
The question is not: Does marketing work for my business?
It’s: When will marketing convert for my business?
The answer is up to you and your commitment to the process.
What Do You Think
If you watched this presentation or are familiar with Emily’s work, I want to know what you think. Leave a comment or share a story below.