Want To Know How To Make Money With Facebook Ads?
We have managed over 1,000 Facebook ad campaigns and today, we want to show you how to make money with Facebook ads.
The top videos on YouTube right now show you how to create a Facebook ad the easy way.
But let’s face it – Facebook makes billions of dollars per year in ad revenue.
Anyone can create a Facebook ad, but not too many people can make money with it.
Unlike a lot of the other people on Facebook, we’re brave enough to actually do the work.
We manage millions of dollars in ad spend to generate real results for businesses.
We have a home decor client right now that is seeing over a 10x return on ad spend. We spent $3,800 and they generated $45,000 in revenue.
We have a client that sells paper supplies that are seeing over a 3x return on ad spend.
We’ve spent over $30,000 in Facebook ads and they have made over $170,000 in sales.
Last example here, we’re also running some carousel ads for a client that sells women’s clothing.
We’ve spent $13,000 so far and it is already returning $27,000 in revenue.
Now to be fair, we do not have any magic tricks, secret formulas, or silver bullets to generate these types of results.
It takes money, time, and a great product to be successful. And even still, there are projects we work on that are not successful.
However, there is a common theme we see with the most successful Facebook ads.
And that is exactly what we want to share with you to help you make more money with Facebook ads.
Read on as we are going to give you 3 steps to make money with Facebook ads.
3 Steps On How To Make Money With Facebook Ads
Step 1: Create an Irresistible Offer
The very first thing you need in order to make money with Facebook ads is an irresistible offer.
You need something that turns heads, stops scrolls, and captures attention.
If you sell an inexpensive product that people normally buy without thinking twice, then your product itself is probably what you should use for your offer.
For example, Smart Baking Company sells gluten-free muffins.
So this is their offer and here is the ad they’re running on Facebook to promote it.
Notice how they highlight what makes this product irresistible.
They boast about the warm and sweet flavors while highlighting how healthy the product is with their nutrition facts.
We don’t know about you, but that sounds irresistible to us if you like muffins.
Now, your offer would be different if you sell a more expensive product.
Or, something that requires a little bit more understanding in order to make a buying decision.
In other words, if you are not selling something that people buy impulsively, you should create an offer that leads people to make a purchase.
You want to help educate them on the problem your product solves.
Or better yet, helping them realize that they have a problem in the first place.
Then you can show them the benefits of your product or service, and move them closer to doing business with you.
For example, HubSpot sells marketing software that does a whole lot from landing pages and analytics to email automation and ad management.
There is no way they can run a Facebook ad and expect people to click it and buy their software, which costs about $10,000 per year.
So instead, they run Facebook ads for irresistible offers that help people improve their digital marketing campaign.
Once you click one of the offers in their Facebook ads, it redirects you to a landing page to sign-up for the free offer.
Then they can collect your contact information to continue to run more marketing campaigns to you to promote their marketing software.
But before we get too far ahead of ourselves, here is our point:
You need to have an offer that people understand and can act on immediately to make money with Facebook ads.
If you sell an inexpensive product, offer your product, and hopefully, that alone is irresistible.
If you sell an expensive product, start with a free offer to get people into your pipeline.
Step 2: Build Your Retargeting List
Do you notice anything particular about this screenshot of results we showed you earlier?
Most of the purchases came from a retargeting campaign that we were running.
Retargeting produced over $150,000 of the revenue generated from our Facebook ads campaign.
Folks, if you remember one thing from this post, remember this:
The businesses that have the largest retargeting lists are the ones making the most money on a Facebook ad campaign.
Retargeting is the process of advertising to people who recently interacted with your business.
This can include people who recently purchased your product, visited your website, or just interacted with your Facebook ads.
These groups of people are already familiar with your business, and therefore are more likely to buy your products or services.
This means that the larger your retargeting lists are, the more likely you will be able to make money with Facebook ads.
Don’t get us wrong, the general targeting options on Facebook are a great place to start. You can target by age, interests, and so on.
But the truth is that those audiences have the lowest chances of converting. You’re basically advertising to complete strangers.
The odds of them buying from you are very low.
And from our experience running Facebook ads, the chances of you making money with Facebook ads are very slim if you’re only using these audiences.
So then, what do you do if you do not have a retargeting list?
The first thing you need to do is set up Facebook pixel on your website so you can begin growing your retargeting list.
Once that is set up, you can start creating remarketing audiences inside of Facebook Ads Manager.
The sooner you set up remarketing lists, the better. Once it’s set-up, it will automatically update.
For example, we have gathered over 330,000 people on our blog remarketing list in the last 180 days.
If we were to create a Facebook ad for LYFE Marketing right now, we would start with this group of people.
Anyway, building a retargeting list poses a challenge for newer businesses with minimal traffic.
So to get around this, here’s what you should do.
Use the general targeting options available inside of Facebook to promote your website until you build your remarketing list.
You’ll be gaining awareness, website traffic, and more importantly, building a list of people that you can advertise to in the future.
A lot of people get caught up in wanting to measure every dollar spent inside of Facebook against the associated return.
And we get that, but the truth is your returns will be very low until you grow your awareness and remarketing list up to a level where you are crushing it.
Step 3: Optimize Your Facebook Ads
The final step on how to make money with Facebook ads is to optimize your campaigns.
As you promote your irresistible offer and grow your remarketing list, you need to optimize your Facebook ads for performance.
This involves testing multiple variations of your ads to see which of them performs the best.
Look at all of these ads that Smart Baking Company is running to promote their offers.
Many of these ads are promoting the same product.
But, they are testing different combinations of images, copy, and ad formats to determine which of them performs the best.
And then on the backend, we can measure how the ads are performing according to the quality, engagement, and conversion rates.
At our agency, we take it a step further and look at things like:
…and so much more to determine how our clients’ ads are performing.
But the key here is to make sure you are always optimizing Facebook ads.
You should test different offers, audiences, landing pages, and more to determine what will help you make the most money with Facebook ads.
Now You Know How To Make Money With Facebook Ads!
There you go! The 3 simple steps on how to make money with Facebook ads that you can implement for your own business’ campaigns.
And here’s something you might want to consider too – hiring a Facebook marketing company!
If this is something you want to look into, check out our social media marketing pricing page here or get in touch with us today.
The post How to Make Money with Facebook Ads [by a Facebook Partner] appeared first on Digital Marketing Blog.
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