How To Make Facebook Paid Advertising Work For YOU

How To Make Facebook Paid Advertising Work For YOU

Everyone seems to talk about why you should use Facebook paid advertising to grow your business, and there are a lot of ‘experts’ out there that show you how to set it up…

But hardly anyone talks about HOW to make Facebook Paid Advertising work for YOU.

As in, ensure you get a real return on your investment.

Not a few dollars here and there, and not a bunch of new leads.

Anyone can do this!

I see people pop up on my newsfeed every day, talking about how they created hundreds (or thousands) of leads, and how you can do the same if you follow this unique formula…

If you have a little money, ANYONE can get a bunch of new leads, and it’s easy to get them for under $1. But the point isn’t to generate new leads, is it… the point is to turn these leads into customers.

Bottom line, you need to turn your Facebook paid advertising into profit.

End of story.

So if you find yourself doing “okay” with your Facebook paid advertising, and you’re generating a lot of leads but have a feeling you’re leaving a lot on the table… read on or watch the video below.

Because I want to help you make Facebook Paid Advertising work for YOU

To view this video on Youtube, click here (remember to Like + Comment 😉 )

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People keep telling me how they can’t get Facebook paid advertising (or any other form of online paid advertising) to work for them, so they come up with a bunch of excuses:

  • It’s getting too expensive to advertise on Facebook…
  • There’s too much competition…
  • People have stopped paying attention to online ads…
  • Online marketing is dead

But when I ask them, “did you start with your finances?”

They say no…

YOU KIDDING ME?

STOP IT!!!

If you’re using Facebook Paid Advertising and not starting with your finances, you are hoping for the best — and “hope” marketing is not effective marketing.

You may as well take your ad budget and arrange a trip to Vegas, because you have a better chance of hitting the jackpot at the roulette table (and you’ll have a lot more fun).

Here’s the ugly truth…

You want to make Facebook Paid Advertising work for you?

You NEED to start with your finances before you do anything else!

Do this and it’s easy to build success on the back of your online advertising. In fact, it’s crazy simple to build success.

Let me explain…

 

How To Get a 10X Return on Your Facebook Paid Advertising

I am not good at math. In fact, I’m terrible at it and always have been.

Back in High School, I outsourced my math homework to a kid in England, so no matter how poorly I did on my exams, I always passed the year. Now, the thin line of cheating to one side, my point is that you do not have to be good at math to make Facebook paid advertising work for you.

But you DO have to start with your math before you do anything else.

So let’s keep this simple…

Say you have a $1,000 product and it costs you $10 per lead through Facebook paid advertising.

To generate 100 leads, you need to spend $1,000. So if you want to break even on your ad spend, you need to create 1 sale per 100 leads.

So far so good.

  • 2 sales = $500 per customer…
  • 3 sales = $666 per customer…
  • 5 sales = $1,333 per customer…

 

Of course, it isn’t as simple as making a return on your ad spend. Which is another problem many entrepreneurs have, because they listen to “experts” who say you should aim for $2 on every $1 spent.

That’s insane!

You need much more than this, because there’s a lot that goes into running your business:

  • Your time…
  • Salaries…
  • Software / Tools…
  • Tax…
  • General Expenses…

 

And this doesn’t even take into account the money you need to grow and scale your business.

So if you’re using Facebook Paid Advertising, you need to aim for at least a 6X ROI (ideally 10X).

Anything less than 6X, you’ll remain in the ‘six-figure hamster wheel’ forever.

Meaning if we use our example from above, you need to create at least 5-8 sales per 100 leads to make it worth your while. The problem with this is, a typical conversion rate is only 2-3%.

This is the toxic truth of online marketing, and it’s killing so many businesses.

Here’s why…

If you made nothing from your Facebook paid advertising, you would say the campaign’s a failure and scrap it. But because you make $1,000 — 2,000 “profit”, you think you’re doing okay.

So you keep doing it, even though that $1,000 — 2,000 “profit” loses you money in the long term.

If you want to make Facebook paid advertising  (or any online advertising) work for you, the first thing is to accept nothing less than a 6X ROI (at least). Which may leave you asking, “How Scott… how can I get get 6-10% when the typical conversion is just 2-3%?”

Simple… you NEED an unfair advantage.

There are usually four ways you can take advantage of your unfair advantage:

  1. Niche market (where competition is low, and demand is high enough)
  2. Good location (where competition is low, or there’s an emerging demand)
  3. Authority / Fame (you have an existing audience or large presence)
  4. or… you use my ROI Method!

 

I won’t go into detail about the ROI Method here, because that’s not what this article is about. To dive deeper into it, click here >>

The point is, if you want to make Facebook Paid Advertising work for you, you need to take advantage of your unfair advantage, and to do that you need to have / use at least one of these four things.

Until you do, you will NEVER get a real return on your paid online advertising (unless you get lucky or hit the jackpot), and you’ll remain on the ‘six-figure hamster wheel’ far too long. You’ll trick yourself into thinking your Facebook paid advertising is working, whereas in reality it isn’t.

But you can make it work for you, and it all starts with YOU doing a little bit of simple Math.

  • What’s the price of your product?
  • How much does it cost you to generate leads?
  • What will it take for you to generate at least a 6% ROI?

Once you know this, you can decide what to do next:

  • Raise your prices…
  • Create a cross-sell or up-sell…
  • Scrap your product / offer altogether…

And of course… figure out your unfair advantage so you can take that 6% ROI and 10X (at least) 😉

This is how to make Facebook Paid Advertising work for you. It isn’t hard, but that’s not to say you don’t need to put in the work. I see too many people skipping the most important step of all, but after reading this (and watching the video) I hope you’re not one of them.

So get to it, and if you want to know what else it takes to become a 7-figure entrepreneur, you may like to grab this 28-page guide I created for you. It dives into the six-step process successful entrepreneurs take to scale from 6-7 figures.

Grab it here, if you think it will help you…



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Discover the Six Pillars of business required to scale your 7-figure business in this free 23-page guide.

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Discover the Six Pillars of business required to scale your 7-figure business in this free 23-page guide.

You have Successfully Subscribed!

Discover the Six-Pillars of business required to scale your 7-figure business in this free 23-page guide.

You have Successfully Subscribed!

Discover the 6 Pillars of business required to scale your 7-figure business in this free 23-page guide.

You have Successfully Subscribed!