Facebook Paid Advertising /// How To Make It Work For YOU

– Today I wanna make sure that if you're utilizing paid online advertising, it's gonna work for you I'm Scott Oldford, I'm gonna give you a little lesson on making sure that you can actually make paid advertising, like Facebook advertising work for you

(lively music) So, a lot of people go and start a lead generation and what they didn't do is start at the finances Which, ahhh, please, please, please If I have another person that says, "I can't get this working" and they didn't do their finances I might slap 'em with a tuna (fish slapping) Alright, so really easy to know if it's gonna work I mean I suck at math, I really do

I really suck at math Funny story, when I was in school I use to outsource all my homework because I suck so bad at math So, I use to outsource all my homework to somebody that was actually in the United Kingdom, in London They would do all my homework which meant 50% of my mark was always 100% and then during my tests, if I screwed them up I'd still pass with like a 60 It worked incredibly well, not cheating just outsourcing

Master delegator, right from the school Anyways, so here's the thing, let's say have let's just call it a $1,000 product A lot of people have $1,000 products I don't think if you're selling something online it depends on the situation but I like to go with something that's over $2,000, but I suck at math So, for the fact that I don't have a whiteboard here right now, I gotta do this calculation in my head, let's just go with it

So we have a $1,000 product Now, let's also assume that your lead cost is about $10 If you're targeting people in the business world, it costs about $10 to generate a lead say on Facebook, on an average basis Sometimes a little bit more, sometimes a little bit less From that, you basically if you're looking at the spectrum of advertising you would have to get at least one person to buy out of a hundred in order for that to work

If you had a $1,000 product in order just to break even, not pay for anything else, not profit or anything like that You'd have to get at least one person You'd have to get two people to buy out of a hundred to be able to make $500 from a profitability perspective Three to get $300 per purchase, so makin' a little bit more now So, we're saying actually at the end of the day, you would have to get about five to eight people to purchase your $1,000 product

Now a conversion rate typically on something like this at kind of best is typically 2 or 3% unless you have some unfair advantages Now some of your unfair advantages might be the fact that you're utilizing my ROI principles

Relevancy, omnipresence, intimacy A second one is the fact that you were in a niche that's not necessarily competitive A third one is you're in a country or a geographic region that's not overly competitive The fourth is that you're somebody that is, really at the end of the day, you're a brand inside of your industry If you're popular, you already have an audience to be able to go to

To be honest with you, it you start to lookin' into those stats they're not that great Because if you're selling a $1,000 product, I don't care what it is, you wanna be able to make at least $500 profit on it, at minimum So, what does this mean? You have to start sketching out, because I don't wanna be able, any internet marketer that says you put a dollar in you get 2 dollars out, those are not returns That's basically just breaking even Because people don't consider the cost of doing business

You need to be able to put a dollar in and get a minimum of six dollars back The typical marketing budget that a business should have, somewhere around 10 to 15%, which means your returns actually should be one to 10 If you're not in a situation, and you don't have that type of advertising it means it's gonna be very difficult for you to grow your business quickly and effectively And if you can't grow your business and the profitability of your business, you may have lots of leads but you're not actually gonna have a whole lot of profit Which means at the end of the year, your gonna be like, "Oh, I did this entire year and I didn't actually "get anything from it, eh

" Not good, it's not a good feeling You wanna take all these things and then say, "Hey, listen maybe I need to go and increase my offer "or maybe I need to go and put a higher lifetime value "Maybe I need to put a product on the back of it "or a product in front of it" See, all these things can be 100% depicted before you ever start an ad yet so many people start putting a marketing funnel together, don't look at the finances, pretty much putting the entire thing to lock, but let's keep in mind most people are hobbyist in their business not actual entrepreneurs, so the hobbyists do this Then they actually go on Facebook, they start generating leads, they don't actually make money, they may be making sales but they don't make any money

And then at the end of the day they're like, "Oh, you know what, I've doubled my business "but my profit is still zero" Do the numbers, do the math, think about the entire situation behind your advertising And get your numbers right Remember, those who play business with running the business by the numbers are the ones who can profit, impact, and create the largest amount of abundance So, if you're not doing that, start it now

And stop just letting everything go to hope Hope marketing is not marketing If you're trying in your business to grow it, based on the same way that you would hit the roulette table then you're gonna have a bad time Don't do it, I'll see you soon So if you enjoyed this content and you want more of it, make sure you go ahead and subscribe

And if you want other entrepreneurs just like you to be able to also access this information this knowledge, make sure you go ahead and share it with someone that means the most to you Remember, as entrepreneurs it's our job to be able to help other entrepreneurs continue to elevate, allowing us to evolve society and of all of our world I'll see you next time, bye

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