Here are the spending figures of two of my FaceBook accounts.
Almost $200,000 Spent. $192,839.88 to be exact.
It's been around 2 years since I've been advertising on FaceBook and needless to say I've learned a LOT.
First, Some Technical Learnings
- PPE ads work great. The trick is to find a product that gets a high Link Click Rate. Not a high engagement rate. A high engagement could mean people love sharing it but not necessarily love buying it/checking it out.
- The aim of any FaceBook campaign is to build data towards your conversion pixel that consequently builds your visitor audience you can use to retarget.
- Buyers are usually over 25.
- Elderly users buy more than you think if you can give them the right product. Think 65 year olds don't know how to make an online payment? Think again! Some of my most profitable campaigns came from 60+ year olds.
- Use audience insights to find targeted interests.
- Be very specific with your marketing. Promoting Pokemon Shirts? Target people that are connected to Pokemon forums, that have purchased the latest games, maybe even part of Pokemon tournaments. Not just those connected to the general 'Pokemon' company.
- Targeted interests usually fall in the following categories,
- If you're PPE ads are doing well, install a conversion pixel and switch it to a 'Optimise by conversions' ad.
- Saturated your audience? Make a Lookalike Audience off of your pixel data.
- Run a retargeting ad from your website visitors.
- Frequency of over 2.0 usually results in an unprofitable campaign, (depends on your product)
- Spend $10-$30 to test products. If no sales, choose another products.
- Got a sale? Continue with another $10. No sales? Cancel.
- Look for consistency. A campaign that gives you a sale here and there is not a profitable campaign.
- Have clear ad images. 600 x 600, page posts with a few lines of text.
- Love Being a Sister?
- Get these Sister Pendants!
- Buy Here -> www.link.com
- Keep an eye out for what's working. Connect yourself to any facebook pages that you feel are doing well. Keep checking on them.
- Video ads are hot right now.
- Likes don't mean squat. Never pay for them.
- International countries have ridiculously cheap traffic. If you can get a profitable campaign, it's usually high ROI.
- Hot niches - Occupations, pet enthusiasts, gun enthusiasts, american rights, grandparents, some cartoons, (dragon ball z), famous movies, (deadpool), political/controversial all do well.
- Countries that can spend are,
- International traffic can buy without you translating your text however doing so, will result in more sales.
- Make sure your product image is clear. Zoom in like they do in those fast food ads. Make it crisp.
What the Heck Did I Spend All This On?
Teespring and Drop Shipping!
This has been my bread and butter for the last few years.
Sure things have changed I've moved to different platforms, different methods, different traffic sources but for the most part it's been FaceBook -> eCommerce.
FaceBook is one of the best places to sell ecommerce products.
Why? Because product popularity increases as your posts get engagement. People can tag their friends and get excited by videos/pictures of new products.
It's just set up in a way that facilitates a, ' Hey Look Jenny, This is cool, let's get it!' type feeling.
FaceBook is GREAT to Scale
When you have a campaign you're spending $50/day and bringing in $200, why would you keep it at $50/day spend?
FaceBook marketing is about finding something that sells profitably and scaling the crap out of it before any other affiliate/marketer catches on.
The moment you have a winning design/product, you should brain storm every angle, variation and scaling idea that comes to mind.
You should act on this quick smart.
When I find campaigns with a great ROI, I'll up my budget to even up to $1000/day per campaign.
I've had $5,000/day spend days!
The quicker I can saturate my demographic, get all my customers in a retargeting list and generally be in the front of my audience quicker than my competition, the more money I can make.
Testing is KEY
A big part of my spend is directly contributed to my winning campaigns but a large chunk of it is from testing.
I've spent at least 30-40k on products that have made me nothing.
That's right, $40k cost, $0 revenue.
Why would I do that?
Because through Testing, you find winners and it's these winners that make you money.
I might set up 100 $10/day tests through out the week, spending about $1,000.
Maybe 3 or 4 will pick up, let me scale and give me some money back and some profit. IF these 3-4 camps make me back $1k each, then I'm up $3k!
If every once in a while I hit a monster and make $20k-$50k then you'll conclude that the revenue FAR out weighs the cost.
FaceBook is a numbers Game
Launched 5 campaigns and ready to give up? You're not fit for this business.
I've gone through 100 products with 0 winners before.
FaceBook is a numbers game. If you keep launching and learning, eventually you'll win.
That's how this business works.
Some of you's might get encouraged by that knowing that it's just math. The more you launch the your chances increase. Congrats, you've got the right attitude!
I'm Still Learning
You'd think that by now I know everything about FB advertising.
It turns out you don't need to know everything. You need to know the process that works and then repeat it as many times as you possibly can!
I learn something new almost every month. It's crazy that even after two years, I'll come across better ways to do things.
Goes to show that business is really a long term play. You're kidding yourself if you want to be a pro in 3 weeks.
Those that have a long term approach, that want to have big ecommerce businesses are thinking 5 years ahead, 10 years ahead. Sure, many of you might even make a tonne of money in your first year, but think long term.
It's kind of like going to the gym. You'll get frustrated trying to see improvement everyday. You hear it plenty of times. "Being healthy is a lifestyle, not something you can achieve in a few months".
FaceBook is an ever evolving platform. Things will continue to change for better or worse forcing us marketers to keep moving forward and be innovative.
Those that survive will be those that keep going.
Launched 30 campaigns and still haven't found anything? Have you learned anything? If yes, keep going.
Spent $1,000 and made $0 revenue? Have you learned anything? If yes, keep going.
FaceBook just banned the way you advertise things. Find other money making ways. Keep going.
Been in the game for 5 years, still haven't earned anything decent. Have you learned anything? Keep going!
Online business is about spending, learning, and trying again.
I don't want to paint a picture of a pretty business world where you come home, work an hour a day on the beach and bring in a full-time wage. Sure this happens but at the start you'll be working so hard you'll forget to eat!
But once you get to where you want to be, it's all worth it.
Want to Get Serious With eCommerce?
Join eComUniverse.com - Private Forum for Shopify/Teespring/Drop-Shipping Entrepreneurs!