Is Your Marketing Profitable?
Let’s face it we’re all in business to make money and that means looking at how you’re spending every dollar.
Do you know if your marketing is profitable and how long after you run an ad does it take to make a sale? For more on this topic check out my article on Money Math.
Now for some readers, this is an easy question to answer.
You sell products online so Facebook knows when someone buys and how much someone buys.
That’s great when you have everything set up properly and you sell primarily online.
What about those of you who have physical stores or sell on the phone?
It’s harder to get accurate numbers for these businesses.
What you end up doing is looking at the sales numbers and comparing them to previous cycles. Are they growing?
If they are keep doing what you’ve been. If not, switch up what you’re doing.
If you make an effort, many times you can track most of the results you get from Facebook.
When you do get your tracking setup you’re going to find that certain ads do great, some do OK, and others show no profit at all.
However, if you stop the ones showing no profit you may stop the others from working.
What do I mean by that?
I’ve talked about in the past that you must use a system to profitably use Facebook. That means any one ad all by itself won’t carry all the weight.
Part of my system is targeting people who don’t know who you are and then introducing yourself.
These ads target large groups of people who don’t know you so they aren’t likely to buy.
However, done well these ads draw people to your business that are interested in you.
And your next ads that target only these people will start to get results.
This second layer of ads is smaller so it costs less to target these people.
But if you stop running the first ad, audience two (which is bringing you leads and sales) stops growing and starts shrinking.
Naturally, the results from your Facebook ads drops.
We measure the success of our clients based on the total ad spend of the account and not on one campaign.
We realize some campaigns are critical to our success but are getting almost no sales.
And others may generate huge returns but would stop if we stopped the other ads.
All of this has come from running ads for 100s of clients and ourselves.
To get a better feel for what’s involved in an entire campaign checkout my Free course at www.gosocialexperts.com/masterclass.
P.S. If you want to have a short 10-minute conversation about how to implement this in your business, schedule time here. We’ll discuss your goals and your business, and I’ll let you know if I’m the one to help you. If we agree then we’ll schedule a longer call if not you get an ear to listen and suggestions you can use.