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Did you know there are four types of online ad, but that most business owners only use two?
I’ve worked with successful entrepreneurs for the last decade, and I hear the same problems again and again. In the beginning success comes easy. They have a good product, a good offer, drive traffic towards it, and quickly scale from five-to-six figures.
But then they get stuck in the ‘six-figure hamster wheel’, and not only does their growth slow, but their once high-performing offer doesn’t have the same effect. They don’t understand why, but then I tell them about these four types of online ad and their eyes open wide.
They realise they’ve only focussed on two, and although it was good enough to get them to six-figures, it won’t help them scale to seven.
The Four Types of Ad
Everyone knows about the first two, and in the beginning they are often enough. But maybe you’ve noticed they no longer work as well, and it’s because you live in a crowded and competitive space.
Everyone sells to everyone, so once you capture your loyal customers and early adopters, your growth slows to a standstill. But it doesn’t have to be this way, not if you utilise all four ad types:
- Lead Generation
- Audience Building
Most entrepreneurs know a lot about the first two, but almost nothing about ‘audience building’ and ‘awareness’. Big mistake, because these are what help you become omnipresent and relevant to your audience, meaning you’re ‘top of mind’ at all times.
So if you want to level-up this year, be sure to include all fours of these in your online marketing.
1: Lead Generation
These are the most common type of ad, designed to get your audience to take action (email optin, subscription, etc…). You can run these ads to both warm and cold audiences, meaning lead generation ads are both easy to create and essential for your business.
A business without leads is not a business, so don’t think I’m saying these ads don’t matter. I use them all the time with ads like:
We run this short video ad to cold audiences, and it generates leads for just $5.50. It’s high performing and brought thousands of people into our marketing funnel, allowing us to nurture them and showcase our offers…
This is where the next ad type comes in, because once you have a lead, you eventually need to ‘pitch’ them. You tend to run sales ads only to your “hot” audience, and again these ads are essential to your business. Without them, you limit how much money you can make, which limits everything else.
The problem is, too many entrepreneurs place too much focus on sales ads, and push them on too many people, too soon. This is why costs are increasing and conversions plummet. People use these ads all wrong, and although I continue to use sales ads, I use them different to most.
I no longer sell the sort of product you can direct people straight to, so with a sales ad like this one we direct people to fill out an application form and arrange a sales call. It’s not your typical sales ad, but the purpose of it remains the same: convert hot leads into new customers.
At this point you have a lead generation ad that leads into a sales ad. This part is easy, and you’ve heard it all before…
If you’re happy with mediocre results, stop reading here.
Whereas if you want next-level results, move onto the third ad type…
Lead gen and sales ads are easy to measure and they produce quick results. This is why everyone uses them, but this is why ONLY using them no longer works.
If you want to stand out in 2018, you need to build real trust with your leads before you sell to them.
This begins with awareness, where you show up in front of the same people over and over. It tends to happen in two ways:
- Create awareness of you, your brand, and your story…
- Create awareness of their pain / problem, and introduce the solution…
So to begin with you build awareness with new leads by showing ads like this:
This ad is all about my story, and helps build trust and authority. A new lead doesn’t know me, so I need to prove I’m worth their attention. Once I do, and share social proof content like this, you can turn attention towards them and their pain, sharing more valuable content like we do with this ad.
The whole point of awareness ads is to make your new leads more aware of you and your story, and how you can help them. This isn’t about turning them into a customer right now, but rather building trust so you can enjoy long term success.
Oh… and this is NOT new!
This is how the likes of Coca Cola became the dominant force they are, by focussing on brand awareness so they become omnipresent and ‘top of mind’. You can do the same by showing up again and again, but this only works when you combine it with the final type of ad…
4: Audience Building
Building awareness is great, but only if it’s relevant. If it’s not, you become annoying.
Audience Building ads ensure this doesn’t happen, because on platforms like Facebook you can design ads to show up in front of the right people, at the right time, in the right manner.
If you take the time to share timely messages with your audience, you build trust and authority much quicker. It’s easy to do, too, especially if you hit them with the right message after they pull the trigger.
We don’t pitch them with anything or share a new message with them. We simply want to say, “hey, you just opted into this… have you downloaded it yet?”
This is so simple and SOOOO cheap to do.
And it results with you building a genuine rapport with your audience, and ensuring they follow through after they pull the trigger.
The 4 Different Forms of Advertising Online
Instead of showing the same piece of content to the same person over and over, you show that one person lots of different content. You take them on a journey, not only becoming ‘top of mind’ and omnipresent, but relevant.
This is how to become the “go to” expert in your industry this year. The new process is:
- Lead Generation…
- Audience Building….
You need to split your budget down the middle, reserving half for lead gen and sales, and half for awareness and audience building. At first you may resist this, thinking it will cost you too much money.
This approach actually saves you money, as well as increasing your revenue per lead.
Why? Because you’re not wasting money on people not ready to buy. Compared to lead gen and sales ads, awareness and audience building ads are cheap. You spend less, waste less, and get more. The ROI is more long term, but the value of it’s huge.
This is how to level-up your online advertising game this year, and if you’d like to know more about how to do this, you may like to check out this guide I’ve created for you that dives much deeper.