How To Avoid Throwing Hundreds or Thousands of Dollars Down The Facebook Advertising Hole!
Have you made money with FB Ads? Good.
Have you failed miserably at FB Ads? Even better!
Whether you know a thing or two when it comes to Facebook ads or you are completely and utterly clueless, we’ve got you covered.
John Sanpietro is back! He’s an 18-year veteran business coach and our resident Facebook ads expert here at Freedym. Since John’s last training, there have been TWO major changes to the FB Ads platform.
Since Facebook updates weekly, so many changes have accumulated and John felt it was time for an entirely new training.
So listen up! Because if you don’t keep up, Facebook Ads will leave you behind, and take your wallet with it.
John describes Facebook Ads as:
It LOOKS really easy. It LOOKS like everyone can make a fortune running FB Ads. The truth of the matter is…most people LOSE money on Facebook Advertising.”
Why? You ask.
Because people don’t take the time to do the necessary prep work.
According to John, it’s all about what you do BEFORE you run your ad campaign. He finds that many people want to jump the gun and get right into ad creation.
“Understand FB ads are the LAST piece of the puzzle.”
You need to have these preliminary things in places so you can actually be successful at running Facebook ads. And by successful, we mean NOT throwing hundreds and thousands of dollars down the FB Ads rabbit hole.
Most people fail with Facebook advertising because there’s:
- No Research
- No Preparation
- No Testing
They will just throw up an ad and “hope” FB will do the work for them. Even fellow Freedym fighters are guilty of this crime. John explains that Facebook will eventually do the work…however, most people have already checked out and cut their losses by then.
Patience is Key.
John runs ads for his clients so naturally, he takes an agency approach. It’s all about ROI. The secret to a better ROI…Research and Preparation.
Here are a few tips to get you going.
Know Your Audience
You have to know who you’re selling to. “Whoever wants to buy” and “I can help everyone” are not sufficient answers. You’ve got to be specific.
Fortunately, Facebook can help you with this. Go to the Audience Insight Tool and start plugging in things you do know about your audience. The tool will then start to give you information back.
For instance, if you typed in Golf, the insight tool will spit out demographic information. Is it more males or females? What age range is most interested? You can glean this information and use it in your ad.
Next comes the fun part…
Identifying Your Audience by Interest
The tool identifies which pages your audience is interested in. What brands are they engaged with? What celebrities do they follow? What books are thy reading? What software are they using? All information you should know so you can target properly.
In the past, you would take these interests and build lots of tiny audiences. Facebook doesn’t want you to do that anymore.
Now, they prefer you to build 1 to 2 large audiences with at least 100,000 people in each. Don’t be afraid to go big on audiences. John prefers at least a half million potential reach. Many times it’s around 1,000,000.
You want to give Facebook enough information to play with. They want to do the heavy lifting and dial it in for you. If your audience is too narrow, to begin with, there won’t be enough data to give feedback.
Okay. If you’re chomping at the bit to start building the actual campaign, that’s part the problem, John explains. “People always want to skip the research—the important stuff. They always want to get to the sexy stuff. And that’s why a lot of the ads fail.” So make sure you do this.
Make Sure Your Funnel is Up and Running
This may seem simple enough. However, there have been countless times John has checked and the funnel is crappy. The pages don’t work. The links are broken. It doesn’t look good on mobile, which is a HUGE No-No.
Most of your ad response will be on mobile so you have to make sure your pages are mobile friendly.
Install your pixels.
The pixels allow Facebook to keep track of who is clicking on your pages. Use that information to build custom audiences so you can retarget and scale out later on.
Here are some basic instructions:
- Install your Basic Pixel site-wide. How many visitors land on your pages? The basic pixel will tell you.
- Install Event-Specific Pixels for individual pages. Who’s taking the exact action you want them to?
- Place the Event-Specific Pixel: fbq(‘track’, ‘Lead’): on the Email list Thank You Page. This will track your opt-ins.
- Place the Event-Specific Pixel: fbq(‘track’, ‘Purchase’): on the Product Thank You Page. This will track how many customers you get.
- Use the Chrome Extension: FB Pixel Install it on your browser to check to see if the pixels properly installed on your pages and any other pages. You can also check on your competition and see if their pixels are installed properly.
Set up Custom Audiences in Facebook
- Create a Broad Audience for people who visited any page on your domain
- Create a Broad Audience for people who engaged with your business on Facebook
- Create a Retargeting Audience for those who’ve visited an opt-in or a sales page, but not Thank You page. Do this for each of your large audiences. You can run second chance ads and recapture up to 30% of the opt-ins or sales you’ve lost. The majority will not buy right away. Don’t leave any money on the table. Retarget. Retarget. Retarget.
Now that you have all of the prep work out of the way, there are two things you should know when creating ads.
The first major change to the FB Ads platform is called Learning Mode.
When you start certain types of campaigns, Facebook goes into ‘Learning Mode.’ During this period, FB is ‘dialing in’ your targeting.
Facebook is putting the ad in front of a larger and more diverse pool of people within your targeting parameters.
Your costs will be slightly higher and your results will be slightly worse during this period. Do not worry.
Once you’re out of learning mode, the ads become less expensive and your results are better. To escape learning mode, FB wants to see at least 50 conversions within a 7-day period. Whatever objective you’ve set: clicks to website, opt-ins or sales, Facebook wants you to hit 50 of those within a week.
In the past, Facebook wanted to see 20 conversions. Now it’s 50. Do not freak out.
In order to achieve this number, you need to run ads to the larger audiences we spoke about earlier with fewer ad Sets.
You may also have to increase your budget per ad set. Instead of spending $10-$20 per day on multiple ad sets, you will pool that money. So now you’ll spend $25-$50 per day on just a couple of ad sets.
When you run ads to fewer ad sets, your costs don’t change that much.
The second major change is Dynamic Creative.
In the past, you would run 3 different ads in an ad Set. Each ad would have the same copy, but a different image.
You were basically trying to split test the ads.
However, it wasn’t a true split test, because Facebook wasn’t running even amounts of traffic to each variation. You were getting results but not the most accurate ones.
Dynamic Creative allows you to make variations with the same ad.
The ads platform will cycle through the variations.
IMPORTANT NOTE—You can create variations for the image, copy and call to action buttons…but don’t do them all at once!
John warns, “You’re going to be like a kid in the candy store. You can easily end up with dozens or a 100 variations of your ad. Which will eliminate the effectiveness of any of your ads. You would have to spend thousands per day.”
To avoid this remember the cardinal rule of split testing…Only test ONE thing at a time.
Test the images OR the headline OR the description OR the CTA etc. Never do them all at once. Don’t even combine variable. For effective results, only change one variable at a time.
Finally it’s time to Test Campaigns
FB Ads are structured on 3 levels: Campaign àAd Set àAd.
Think of the Campaign like a file cabinet. The Ad Set is a File Folder within the cabinet. The Ad is the file—a piece of paper within the file folder within the cabinet. You can have multiple pieces of paper in the folder. Multiple Ads in the Ad set. You can have multiple folders in the cabinets. Multiple Ad Sets in a campaign.
To simplify John recommends:
- 1 to 3 Campaigns
- 1 to 2 Ad Sets per Campaign
- 1 Ad per Ad Set
- 3 Variations per Ad
Each Campaign has a different objective. The Campaign objective is your ultimate goal. You are telling Facebook what you want.
There are 3 types of campaigns:
- Engagement: Create awareness and buzz about your product and/or brand
- Traffic: Get eyes to your website
- Conversions: Get a particular action, once they’re on the website
In the beginning, 95% of campaigns will be all three objectives. Then just traffic and conversions. And when you’re seasoned…conversions only.
John likes running 2 campaigns—traffic and conversions just to see which runs better. He urges you to do the same. You’ll be surprised at the results.
Each Ad Set in Campaign targets a different audience. Take the audience from audience insights. The old way was taking 5-10 audiences and spending $5-$10 a day into each ad set. Now take $25-$50 a day to ONE ad set.
Spending $5-$10 a day won’t really work anymore. Facebook wants you to spend money. However, it also wants you to get results. The key is to spend enough to get those 50 conversions within a 7 day period.
Each Ad contains a different image (same copy, same CTA). Use 3 image variations. Let Facebook roll out the variables. John heard they will roll out in “true split test fashion.” 33 and 1/3 across the board. Let the ad run for 48-72 hours. Look and see what the worst performing variable is and KILL it in each campaign. Let it run another 48 hours. And kill the worst performer of 2 remaining images. Now you’re left with the winning images from your traffic and conversion campaign. John recommends you don’t stop there. Put another image in ad.
You can always do better.
According to John, there are 2 things you always want to be doing:
- Things to get your costs lower
- Things with website and webpages to get conversions higher.
This combo will make your marketing more profitable.
Do this because you don’t truly know what’s going to work with your audiences. Images are psychological. John thinks he knows. But even he’s right less than half the time.
Images are the first thing people stop and see.
Always start with the image.
Images are 80% of ad. If it doesn’t get them to stop, it doesn’t matter what your ad says because no one will read it.
Also, make sure the winning image is on the next page of your funnel. Continuity helps conversions.
Next test and improve the headline and copy.
After 7-10 days you’ll know your winning campaign objectives.
You’ll know winning images.
You can then begin to scale up and out with relatively little risk of losing money.
People get upset about short term spending.
“I can’t believe I’m spending this much money in 10 days. The reason why you’re spending this much in 10 days is so you can make this much money in the next 100.”
This is an investment. You’re paying to get this very valuable information from Facebook. You’re paying to save yourself time. You’re paying to save yourself money in the long run.
Like all things entrepreneurial, it all comes down to mindset. There’s a certain mindset you need to have in order to succeed at this game. “You have to believe in yourself and what you’re doing. Believe you’re an investable commodity. If you don’t believe then it’s hard to get other people to invest in you.”
Like the old adage says…if not you then who?
Be sure to check the Freedym FB Group for changes weekly. John is always posting updates. Also, to watch the full training video and for a more in-depth look at the Audience Insights Tool, and other trainings mentioned enter your email below to watch the video for free.