Why Does Everyone Lose Money on Facebook Advertising

If you haven't tried Facebook ads already and you know a lot of people who have, you probably don't want to. They're uncharted waters, and many before you have failed. At least once or twice, sometimes even from business professionals, you've probably heard plain and simple that Facebook ads don't work. Everyone who tries just loses their money with minimal results. First, let's dispel that myth. Not everyone fails on Facebook marketing. It is a highly effective platform, but only if you succeed in utilizing it's tools properly.

1. They Don't Test Their Audiences

Audience testing is going to be the very first step you use to build on your Facebook ad campaign success. The target audience you choose through Facebook will vary based on your industry and business type, and who you're trying to reach with your product. Facebook provides many factors to consider when selecting an audience for your first ad:

-Demographics-Based on demographic factors like age, gender, job title, level of education, and more.
-Interests-Audiences hobbies, interests, and likes
-Behaviors-Behavior patterns typically followed like purchases, website visits, and using a certain device

When you first begin figuring out your audience type it will be anything but easy. It may involve some guesswork and gouging your competitors. Audience testing is the crucial element for long-term success in targeting.

How to Test Your Audience

To test your audience, you'll need to create several separate ad sets. In each one choose your targeting factors. For the best gauge of success, create at least 8 to 10 different sets, and monitor each one's performance using your ads manager.

Over time as you monitor the performance of each ad, look and see which ones are performing best, based on your goals. Are your target audiences visiting your page, engaging in your posts, or finally making purchases?

Keep the audiences that perform best.

2. They Don't Utilize Lookalikes and Customs

As some of your ads begin to perform, entering the ads manager will reveal that you can actually create custom and lookalike audiences. To do this, simply visit the audiences tab in your Facebook ads manager. From there, you can select from custom or lookalike audiences.

Custom audiences are more or less "warm audiences" who have already performed some action on your page in a set period of time. You can choose to market your ad to people based on many factors, including those who have engaged in your posts, visited your website, or watched a certain length of your videos. This is a great way to put your ad in front of people who are already familiar with your brand.

A lookalike audience varies from a custom audience in that it is essentially a "smart" audience more or less cloned from a custom audience. Your custom audience requires 100 members or more, before you can create a lookalike audience. Creating a lookalike essentially spawns an audience of people who share similar interests, behaviors, and demographics with your custom audience.

In this sense, once you've established a heartbeat for your ads campaigns and desired audience, it becomes that much easier to find people just like them. That means people just as likely to become loyal customers.

3. The Pixel Isn't Working Properly

Facebook Pixel is a tool you can use to track audiences who visit your webpage and then transmit that info to Facebook, allowing them to update your advertising algorithms. Go to your Pixels tab in Events Manager, click Create a Pixel, name your pixel, enter your website url to find easy set up optins and make your choice. Then simply copy and paste the code provided by Facebook into your website. Once you're done, Facebook ads will track, optimize, and constantly work to improve your ad performance.

Pixels will work to track actions taken on your website outside of the Facebook page, like visits and clicks, sign-ups, and purchases. If you haven't already synced up your website, it's an absolute must. If you are already using Facebook pixels, there's always a possibility the code may not be working correctly. If you've noticed your ads haven't improved over time, or are simply not performing at all, it may be time to troubleshoot your Pixel.

What if All of This Was Easy?

Facebook ads CAN work and DO work, but you have to utilize all of the tools that Facebook has to offer, and you have to manage them effectively. Doing this is no easy task, but you don't have to be a marketing expert to achieve some level of success, but it certainly helps. Fortunately, there is plenty of help for the rest of us who are less than master's in the art of the Facebook ad. Programs like Automated Ads streamline the management of mulitple ad sets and vastly improves your chance of success without losing your shirt.

There's a lot that goes into launching a successful Facebook ads campaign, but fortunately for some of us, you don't have to do it alone.

How to Create Repeat Customers Using Future-Use Coupons

How can you encourage customers to make their second, third, and fourth purchase with you? How can you entice them to keep coming back and buying from you, changing them from a once off customer to a regular? Future-use coupons are one great strategy to employ to incentivize customers to make that next buy.

So how do future-use coupons work? When customers make a purchase, you give them a coupon for a dollar value or percentage off their next purchase. This is called a “future-use” coupon. It encourages your customers to come back and purchase from you again, and keeps you in their mind. You can even make receiving the coupon dependent on spending a certain amount, to encourage customers to spend more per sale.

For example, if you have tennis shop, you could have an offer where if they spend over $100 today they get $25 off their next purchase of $100 or more. Not only does this give an incentive for your customers to spend $100 now, it also gets you an additional $100 sale next time they come in wanting to use their coupon.

So encourage customers to come back to you with “future-use” coupons, where, if they spend a certain amount with you today, they get a percentage or dollar discount next time they make a purchase with you.

Want more great tips on customer retention and turning your clients into repeat purchasers? Check out this book 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!

How To Use Social Media Effectively

According to a survey conducted in the United States a stunning 90% of businesses were active in some way on social media in 2017. Facebook alone, has close to 1 billion users, equal to the total population of India, all over the globe.

The world has progressed to the point where everyone wants everything right at their fingertips. They want what they want constantly and they want what they want NOW. That is the number one rule of social media. If it's used effectively the rewards are great. You want a social media page that

• Is active
• Has a large, engaged, and growing following
• Speaks to a large, relevant audience that translates into business conversions.

Using social media in a way that accomplishes these things can be tricky, but it also can be done.

Consider some of the following guidelines:

1: Headlines Matter:

You may have heard this famous proverb “don’t judge a book by its cover” but let's be honest with ourselves. We are visual creatures who often act on the first thing we see, and authors seem to agree with marketing experts that the cover very much matters. Creating effective social media headlines takes some practice. Headlines should be catchy, attention-grabbing, and the appropriate length depending on your platform.

2: Compelling Visuals:

What we see is more important online than what we hear or read. Visuals play a vital role in all social media campaigns. The use of compelling pictures and video material brings more value and attention to your posts, especially when compared to plain text. Visual posts are becoming more important on every form of social media, but many platforms like Pinterst, Snapchat, and instagram rely on visuals entirely, and their popularity continues to soar.

3: Adapt According To Your Platform

Whether you're working with Facebook, Instagram, Twitter, or any other social media site, each platform is going to come with a set of features. Most sites allow you yo post links, videos, and images along with your engaging text posts. Each platform is different, however. Instagram for instance offers various filters and focuses primarily on posts related to graphics, photos, and other visual posts. The nature of Instagram makes it ideal for sharing art. Twitter on the other hand, while it allows some of these features, is better for shorter blurbs and other text-based posts. Character limits require to you get your information out there short and quick, and as a far more active program you have to post CONSTANTLY to keep up with your following and your competition.

Whatever platform you're using, you'll need to familiarize yourself with the individual social media site and adapt accordingly.

3: Trending and Timely:

Twitter perhaps began this concept, but Facebook and other platforms are adopting the concept of trends and hashtags as well. It's important to follow what's going with these trends, as well as what people are talking about on social media in general. Your posts must be timely, and fall in sync with current trends to remain engaging and capture the attention of your audience. Give them content that's relevant.

You'll have to experiment with your content strategy as far as when to post. Some audiences and topics trend at different times of day depending on the behaviors of their audience. What are their work schedules and daily routines? Try to pinpoint the times that they're most on and post accordingly. This may require some trial and error at first, but as you tweak your posting schedule you'll want to adjust and post mostly during the times that get the most engagement (likes, clicks, comments, shares etc)

Of course most of us aren't available to post on social media 24/7, fortunately you may not have to. Many features like Facebook's auto-scheduling program can make your life much easier as they allow you to schedule your posts in advance.

4: Cast A Net Of Posts:

Using a net can catch more fish for you than using a fishing rod. Its wider and has more reach. The same concept can in some ways be applied to social media. The algorithms of your visibility very much depend on the activity of your page. The more you post the more likely you are to be seen. One or two posts a day is good, but at some point it may not be enough. You want relevant content your audience will appreciate, so don't just spam post, but have your content planned in mass and in advanced. Five or more posts a day may be ideal to start, but you can experiment with the number of posts you plan as you measure engagement.

4: Interact With Users:

Interaction with your users is an important, but neglected step in social media management and influence. First, many pages like Facebook measure your pages response times and rates and will sometimes post them publicly. You want to be as responsive and interactive as possible in your profiles inbox system, and even on your posts.

Users are more likely to engage if they feel connected with your brand on a personal level. Answer questions, respond to criticism, and above all, be friendly and polite. Let your users know there's real people behind your page.

5: Keep The Content Coming

One of the biggest struggles for many businesses and users in social media is consistency. Creating content is more tedious than you would think, but it has to be done all the time. New content every day, fresh and original, is one of the biggest keys to success in social media.

Not everyone has time for content posting and creation, especially in a way that keeps up with the demands. With content constantly rolling out, you need to keep your pages busy. Luckily many automated programs like News Poster make the job a lot easier for those who are willing to invest.

How Split Testing Can Massively Increase Your Conversions and Sales

Too many business owners and marketers will only create one version of an offer, sales page, opt-in page, ad, etc., and simply hope that it works. If it does, they’re happy. If it doesn’t, they think that the offer simply doesn’t work.

That’s a horrible way to go about it. If your first attempt doesn’t work, you’ll want to create several different versions of all of those to see if maybe it’s something in your sales copy. And even if you get lucky and get a winning offer right off the bat, you’ll want to constantly test new things in the sales copy to see if you can increase clicks to your ads, lead conversions to your opt-in pages, sales to your sales page, and upsells to your upsell pages.

It doesn’t have to be hard. Even just changing around headlines or little things here and there can often have drastic effects. For instance, you might find that changing a headline and shortening down the length of an opt-in page might boost your lead conversions from 20% to 30%.  That alone could increase your sales by 50%! And by tweaking an upsell page just a bit, you might find that you move conversions there from 5% to 8%, which would be a 60% increase on the backend! Little changes can go a long way and can easily turn a loser campaign into a winner.

And the best part about all this is that little increases in conversions here and there can be responsible for massive increases in money made overall. But having said that, you want to be sure to focus your efforts first on the parts that make you the most money. For instance, improving your front-end conversion rates or those on your biggest money making upsell will almost certainly make you a lot more than focusing on your fourth upsell that doesn’t sell much currently (not to say you can’t improve that and make more, though).

One awesome free tool you can use is BizFire’s Funnel Maker, which you can get for free at www.bizfire.com/funnelmaker. This tool not only lets you build out funnels to simulate a real business, but it lets you see what happens when you increase or decrease conversions in various parts. It’s perhaps our favorite tool to play around with and plan out our businesses!

So make sure you are always testing new sales copy and upsells in order to see if you can increase your opt-in rate, sales conversions, or upsell conversions. Little changes can often have drastic effects that can turn a bad campaign into a winner.

And to check out the Funnel Maker software for free to see how even small changes can massively impact your conversions, click here BizFire's Free Funnel Maker & Analyzer.

How to Increase Your Prices and Boost Your Business’s Profits

People often overlook this very simple, very easy way to increase their business’s profits: increase your prices. Most people tend to undercharge for their services, so try increasing your prices, as a test, and see what happens. Funnily enough, most people perceive something that is higher priced as being of higher quality, which can encourage people to buy your product or service. As you increase your prices, you’re also receiving more per sale, increasing your profit margin. Take this strategy a step further and target higher value clients.

For example, if you run a business coaching company, and you currently charge $200 an hour for your time, increase your rates to $1000. With the perceived higher quality and value in your coaching, target businesses that make a lot of money vs. those that are barely getting by. In this example, one client would be worth 5 of your clients in the past. Not only have you raised your hourly rate, but you’ve decreased the amount of work you need to do to earn the same amount of money.

An interesting example we’ve had before is when we’ve sold courses or software for $7 vs. $497 vs. $997+. Although the $7 price gets the most conversions, the $997 price would almost always make tons more money. You just have to make sure you do a good job of showing the value!

So test out this simple tip and try increasing your prices and targeting customers who have more money to spend on your product/service.

For more easy ways to grow your profits and increase your sales check out this book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!.

How Giving Away Something of Value Can Help You Monetize Your Back End

Everybody loves a freebie! What do you currently sell, that is of value, that you could offer for free? And how can you monetize the back end of that? This works especially well if you can offer something that other businesses would normally charge for.

For example, if you have a corporate cleaning business, you could offer your first clean free, and follow up with your customer to see if they were happy with your service and would like you to continue. This is a great way to get new clients to try your service, as you’re taking all the risk out of it for them and, if you do a great job, chances are they’ll want to keep you on. The principle of reciprocity comes into play here too - you’ve given something of value to them and chances are they’ll feel the urge to do the same back.

A twist on this model is our “free plus shipping & handling” funnels, where we offer something for free on the front-end as long as the customer covers a small s&h fee (usually under $5). As long as they think the value is $20+, they’ll consider this a steal and be inclined to jump on it, even if they normally wouldn’t buy it right then and there. However, a necessity with this model is to make sure that you have a great set of upsells and a good backend to really monetize it. We typically have a continuity offer (like a membership or something along those lines), a low to medium priced offer, and ideally a high-end offer in the upsell path. The real money is made in the upsell path, as it’s hard to make a lot off a free plus s&h offer. As an added bonus with this model, you also get a lot of quality buyer leads (worth far more than non-buyer leads), without often having to pay a lot in advertising costs to acquire them. This allows you to market more offers to them in the future and make even more money off these buyer leads.

Think about something you can give away, that has value, and then look at how you can monetize the back end. Whether it is a sample of your service or a physical product, this works especially well if it something that other people usually charge for.

For more insights on how to create a sales funnel that maximizes your profit potential, check out this tool here: BizFire's Free Funnel Maker & Analyzer

How to Use a Sense of Urgency to Increase Your Sales: Offering a Limited Time Deal

A sense of urgency can be a great motivator, both in encouraging a sale and in life. To use urgency in business, look at offering limited time deals, especially ones that don't last more than a few days tops.  And if you have an e-mail list, mail them a lot more on the final day with reminders to the deadline.  You'll often get most of your sales on the final day! Countdown timers can be another great way to emphasize this.  The idea is similar to furniture stores that seem to always have sales that end on the weekend... even though we all know they'll probably have another sale in a week or two, we're more likely to buy now if we think there's a sale on it now vs. later.  People like to procrastinate, so limited time deals can get them off their butt to take action.

For example, if you run a gym, you may run a sale on gym membership, where if they sign up over the next 3 days they receive a discount on the total price, or X amount of personal training sessions as a bonus. The time limit creates a sense of urgency, encouraging people to buy that may have sat on the fence or procrastinated otherwise.

One huge marketing tip that we’ve perfected over the years, which has made us a lot of money, is a limited time deal method that we call the 3 Day Money Maker or the 1, 2, 3 Limited Time Offer. It can especially work well if you have an e-mail list and can e-mail them about the special offer.

Here’s how it works. You setup a special offer (ideally either a big discount like 50% or a big bonus to include with it) that only lasts for three days. We typically either start this on a Thursday or Friday and have it end over the weekend on midnight (either Saturday or Sunday night). On the first day, you only e-mail your list once to announce the special deal, provide them with a link to the sales page to buy it, etc.. You then tell them that the deal ends on midnight on X Day (three days from then). You typically will get some initial sales then, but not necessarily a ton. Then on the second day, you send them one e-mail in the morning and one e-mail later in the afternoon or evening. You likely will get few if any sales then, but that’s okay. The third day is where the real magic happens. On the third day, which is the final day of the sale, you e-mail them once in the morning, once in the mid to late afternoon, and once in the late evening. Your subject lines should increase the sense of urgency with lines like “Final Chance – 50% Off Deal Ends Today” and “Only Hours Left to Save 50%” or “Final Warning – Deal Ends in a Couple Hours” (they don’t have to be exactly that, but you get the general idea of making it seem urgent).

The final day, especially the final hour or two, will get A LOT of sales typically, especially in the final minutes of the special offer. In fact, we’ve found that if you leave the offer up until the morning, you can get several sales in the wee hours of the morning that think they gamed you by getting the deal just after it technically was meant to close. Using this method properly exactly as we laid out can make some businesses more money over a few days than they might make in several weeks or more!

Think about how you can create a time sensitive deal where people only have a limited time to take you up on it. The sense of urgency encourages people to buy. If you have an email list, constantly remind people of the deadline, as often the most sales will happen in the last day near the end.

For other cool strategies and tricks to increase your business, check out this book full of marketing and sales tips 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!.