this post was submitted on 30 Nov 2023
1 points (100.0% liked)

Entrepreneur

0 readers
1 users here now

Rules

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 1 year ago
MODERATORS
 

Imo, paid ads are the best & fastest way to grow your company. When all the pieces click into their respective places, you have a system that turns advertising dollars into profit.

I've talked to a lot of business owners and the aforementioned scenario is definitely not the reality for many.

Maybe you tried to run ads yourself or even hired an agency to do it for you, but in the end you burned more cash than you made. Why?

I mean if you logged into your Meta business manager, clicked a couple of buttons and called it a day, what did you expect?

Or if you hired an agency to do that and all they did was launch a couple of ads in your BM..

Congrats, you paid 4 figures for someone to to click through a setup that's so easy that you could guide a grandma through it through phone.

Month over month, META is making it easier and easier to set up campaigns, but you don't make money through paid advertising by clicking a couple of buttons.

Here's the process we use to launch successful campaigns for us and clients - only 10% of the whole thing is clicking buttons in business manager.

Whether you sell B2C or B2B, same principles apply.

Research & positioning

This is a fundamental part of running ads that many overlook, but it's mission critical to successful campaigns.

Interview your customers and clients to find out why they love your product or service and more importantly, what made them buy.

Go to your competitor amazon reviews and find what people don't like about your competitor products.

Go to your competitors GMB reviews and see what people dislike about them.

Go to forums/Quora/reddit and find what people talk about your industry and services in it.

Your goal with this is to find burning problems that people have and want solved.

Once you have list of common problems and pains, you can position your service as a solution to them .

If you overlook this process, you won't have successful campaigns.

I've used the same principles when selling prefab home kits for $80k and when selling board game - If you figure out what signals people need to see to take the next step in your funnel, you will consistently be able to put them in front of your potential clients and make your campaigns produce profit.

This is the absolute hardest thing to nail down in paid advertising. If you fail at this, no amount of tweaking, optimisation or ad account hacking won't make your ads profitable.

On the other hand, if you put your head down for a day and do proper research and positioning..

Couple of clicks in your business manager with broad or LLA targeting and an eye catching creative will do wonders.

Campaign setup

It's never been easier. This is the structure we go with when starting out.

1 ABO Campaign with either Sales or Leads objective

1 Ad set with broad (or some cases 1 huge interest) targeting

5-10 different ads mixing traditional videos, UGC, carousels, images, text images, etc.

Then I let it run and depending on what happens, adjust.

For example, you might be getting a lot of add to carts but not much purchases.

If that happens, create an ad with a discount or other incentive to push that add to cart to a purchase.

Or maybe you're getting a lot of leads but no actual conversions from them?

Add a seperate ad set with ads meant to educate your lead before they purchase your service.

That way, you nurture both the leads before they become a lead and after they become a lead, in the end increasing conversion rate and increasing lead quality.

Let me say it again - research and positioning are key to make paid ads work. Don't pay 4 figures to an agency who does what you can do in 30 minutes and send you "monthly reports" of shitty performance.

you are viewing a single comment's thread
view the rest of the comments
[–] Savings-Initiative43@alien.top 1 points 11 months ago

Do you know of the best AI tools that can assist with this process? I have a cosmetics startup I'm trying to spread.