Any money you spend on an advertising campaign should always be an investment.
That is to say that the amount spent should be dwarfed by the amount you make so that you can continue to spend more and see your profits rise and rise.
Unfortunately, this isn’t how every Facebook Ads campaign looks. Many of us will pay for Facebook Ads and find that we don’t see that money back and that rather our profits are stunted and we feel as though we’re hemorrhaging cash.
So what’s going wrong? And how can you fix the problem? Here are some things to try
One thing to look at is your targeting and whether or not you’re reaching the right people with your ads.
The aim here is not to reach as many people as possible and get as many clicks as you can. In fact, getting too many clicks is worse than not getting enough! Instead, the objective is to more of the right kind of visitors. Try using more stringent targeting in your ads and try thinking about ways to prevent the wrong type of person clicking on your ad.
- Sales Pitch
Something to think about is that it might not be a problem with your adverts but rather a problem with your landing page. If you are paying to send visitors to a page where they can buy a product, then you need to ensure that you are effectively persuading visitors to click buy and that you are effectively making your product sound and look exciting.
- The Product
Or perhaps the problem is even more fundamental still? Maybe your product simply isn’t that appealing. In this case, you might want to consider changing your tactic and properly researching the market before investing in your next item to sell.
Or perhaps it’s just that the price isn’t right for that product? Try tweaking the price and see if that helps you to improve your conversion rates and profits.
It can take a while to land on the perfect combination of price, product and advert and experimentation will, unfortunately, cost you money. Make sure that you experiment in ways that won’t cost the Earth then perhaps in a smaller niche to begin with for instance. This way, you can hone your skills in an easier environment and then translate that perfect campaign to your ideal niche.
We will be discussing Facebook ads in the next upcoming workshop.