Facebook advertising is a great platform to make money. You can set up an ad campaign for as little as $10 per day and start seeing results immediately. It’s built in targeting options make it simple to deliver your advertisements to exactly the right audience.
For example, if you are selling a training course, you can advertise directly to people who have already shown an interest in WordPress & Web Design.
However, there are many different types of Facebook Ads and, without a coherent strategy, it’s easy for people to get frustrated and dismiss the opportunity.
This is probably due to a misunderstanding of what’s needed for a successful paid acquisition program.
In this article, we look at the higher level strategy of using Facebook Ads to make money.
Every Online Business Needs a Funnel
What every successful campaign has, and what every business needs, is a funnel.
A funnel is a way to drive potential customers from awareness of your brand to a purchase of your product or service. In short, it is the process of building a relationship.
It’s important to remember that over 95% of visitors do not make a purchase on their first visit to your website. In fact, some studies have shown that it takes on average 16 days from initial impression to first purchase.
So, with that in mind, it would be a big mistake to deliver a Facebook Ad to strangers asking them to make a purchase.
Even a best case scenario would mean less than 5% of people might buy the product (and that would be a unicorn example).
Also, people don’t visit Facebook to make a purchase, they hang out with their friends, watch silly videos and share content. Anything that interrupts this has the potential to be completely ignored (or worse still, complained about).
A successful campaign has multiple steps that cohere with the customer’s’ journey:
Awareness > Familiarity > Consideration > Purchase
And only some of these steps will happen on Facebook.
The exact ads you run will, of course, depend on the product you are offering but let’s use an example to illustrate the process…
Let’s say we are selling a course called ‘Design Your First Website.’
At the Awareness stage, we can presume that our potential customers are researching how to build a website, what platform to choose or what WordPress theme to use.
So, we would need to create some appropriate content that engages our prospects in their current state of mind.
For example, we could write some blog posts with the following topics:
9 Reasons “MyTheme” Is The Easiest Way To Create a Professional Website
How To Create a Website In One Weekend
7 Reasons “MyTheme” is the Best WordPress Theme for Beginners
We would then promote these articles on Facebook to our target audience.
The aim of the campaign would be to get as many people to read the article and engage with the content.
But the real secret here is that anyone who clicked on the article link and visited our website would be added to our Facebook ‘custom audience’.
A custom audience is a special list of Facebook profiles that can be used to ‘retarget’ potential customers at a later stage.
In this scenario, it would work by inserting a tracking code (aka ‘Pixel’) on your website.
Every time a Facebook user viewed one of your blog posts they would automatically be added to your custom audience.
At the familiarity stage, we have one key objective: to convert the visitors who read our blog posts into email subscribers.
To do this, we would create a Lead Magnet that appeals to our target customers.
Making the assumption that our potential customers have now decided to use “MyTheme” (after being convinced by our persuasive blog posts), our lead magnet could be:
‘The Ultimate Beginners Guide to Website Design’
Our Facebook Ad, at this stage, would only be shown to those prospects that read our articles in the Awareness stage – e.g. our custom audience.
Since they have already read our blog posts, there is a much higher likelihood that they will be interested in our free offer.
Anyone that signs up is added to our email list and is primed for the next stage of the customer journey.
The consideration stage happens primarily in your email marketing funnel. By delivering more free content to your audience, you will deepen the relationship with potential buyers.
Over the course of a few days or weeks, you can gradually introduce your core offer.
By informing your email subscribers what product you are offering some of them will start considering whether it is a purchase they want to make.
You can leave ‘subtle hooks’ in your free content at this stage to point towards your paid offerings.
For example, you could create a short video about customizing the Headers & Footers and mention that you go into much more detail in the full course ‘Design Your First Website With “MyTheme”.
At the purchase stage, it’s time to be up front and pitch your product. The objective here is to drive your email subscribers to your sales page. It’s important to have a clearly stated Value Proposition, outlining the benefits and features of your product.
By using a risk-reversal offer (such as a 30-day money back guarantee) or urgency offer (50% discount for the next 24 hours), you will substantially increase the number of paid conversions.
Facebook Advertising is a great way to make money. However, the platform can be confusing unless you have an overall strategy.
To do this, you will need to create a ‘Funnel’ that coheres with the customer’s journey.
This helps to lead the prospect from awareness of your brand to a purchase of your product.
Creating content at every stage will help deepen the relationship and increase the likelihood of a sale.
This is a million times more effective that pitching your products directly to strangers.