This is an email I received earlier from a member of my community. It’s a question I’ve been asked a few times, so I figured that sharing the answer here may help you too…
Q: “Do you think Facebook adverts are a good idea for my business? The challenge is that I only have a low budget!”
As is often in marketing, the answer to this question isn’t a straightforward yes or no. It depends.
Before you dive into the Facebook adverts manager and invest your time and money, ask yourself these questions;
What is the objective for your ad?
What result/objective do you want to achieve from advertising on Facebook? New warm leads? Sales of your products or services? Likes for your page? Contest entries?
When Facebook users see your ad, and click on it, what do you want them to do next?
And how will you get them to do it? If your objective is to get new warm leads – people opting in for your lead magnet, “selling” your free eBook in the advert, then sending them to your Facebook timeline when they click on your ad ain’t gonna serve your objective.
To get people to opt in, you’ll need to send them to a squeeze page (internally or externally) when they click on the ad. We’ll call this Call To Action 1 (CTA1)
When they’ve taken CTA1, what do you want them to do next? (CTA2)
If your initial objective was to get more Facebook likes, and CTA 1 was “like my page”, what will you do next to get a return on your investment? Facebook likes alone are worth £0, so you should have a 2nd campaign running that targets your page fans, directing them to take a 2nd action – perhaps sending them to your squeeze page to opt in to your list, or register to attend your webinar?
And so on…
Your return on investment
For example, in a Facebook ad you might promote your Lead Magnet. So the text and image is geared towards getting viewers to visit the squeeze page (CTA1)
Then you want them to opt in to your list, so CTA2 directs them to fill out your opt-in form = this is the first ROI trigger for you. The first return on your investment is the new warm lead
Next they see your Trip Wire sales page, so CTA3 is to buy the Trip Wire = this is your second ROI trigger. You’ve now received income from the sale of the Trip Wire
On the ‘back end’ you’ll be nurturing your relationship by sending them value based emails, and perhaps you’ll invite them to book a free call with you = CTA4 is to book the call
During the call you might invite them to invest in working with you if you’re a good fit for each other. This is your third ROI trigger. Another purchase that evolved from your Facebook advert campaign.
Does that make sense?
So while your ad objective or conversion strategy might not look exactly like this (perhaps you’ll skip the Trip Wire step for example), you do need to think this process through before you go anywhere near Facebook ads.
Otherwise it could become a very expensive waste of time
And… the low budget?
If the ads attract attention from your ideal client, they’re getting clicked on, and the conversion strategy is good, the low budget won’t necessarily be an issue. Once you start seeing a positive ROI on your ad spend, then you can decide whether to increase the budget, and test whether doing so results in an increased ROI.