This month we’re focusing on how to know if you should invest your money in Facebook + Instagram Ads, as well as what kind of return you can expect on your ads. It’s one of the most commonly asked questions I get during my free discovery calls.
How the heck do you know if you should think about running ads for your business??
There are a few questions and topics I always discuss with business owners during my free discovery call to answer the question above. The video below dives right on into these questions.
What are you ultimately trying to accomplish with ads?
If you’re trying to accomplish any of the following, Facebook + Instagram Ads can absolutely help you with your goal. This isn’t an exhaustive list and there are other areas Facebook + Instagram Ads can help, but these are the most common ad types I see and run for clients.
-Email list growth
-Increase engagement on Facebook Page or on posts
-Sell a course, product or offering
-Drive traffic to your website
-Increase event attendance
-Retarget with a specific message
Do you have $500ish per month you’re able to spend on ads?
-Running ads requires testing (we will get into this more a different day). You’ll need to test multiple audiences, images, texts, calls to action, and I could go on and on, but I hope you see that it’s not just put up one ad and call it a day. This is my favorite topic to dive into when doing 1-on-1 strategy calls with business owners. We determine which combination is not only converting, but which combination converts at the best price for you.
What are the ads worth to you and are you willing to invest in your goal?
-If you’re able to, monetize your ads and what it’ll mean for your business.
Example: Are you selling a product that is a $50 product? Then you need to ensure you’re able to bring in a cost per sale under $50 (and hopefully WAY under $50).
-Do you have a set goal, like growing your email list following by 500? If so, you can absolutely design ads around this. Again, it comes back to what is this goal worth to you? If you know that growing your email list also increases your annual revenue, then decide what each new email subscriber is worth to you. (We’ll get into average cost per email subscriber down the road 🙂 )
Last, you’re going to need a plan in place. Our next email will dive into this, but please, please, please, PLEASE don’t spend money on Facebook + Instagram Ads (or boosting) without a plan. Trying to spend money without a plan in place is your recipe for frustration, failure, and an empty wallet. Later this month we’ll dive into creating a plan for your Facebook + Instagram ads, so stay tuned! If you’re eager and can’t wait until then, you can always book a free discovery call with me to learn more about having a strategy session for your own business.If you haven’t already, check out my video above where I dive into this topic a bit more in detail.
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PS–Did you know Ads Uncorked has a shop with easy-to-follow video tutorials?! Learn how to navigate Ads Manager, master cold audiences, best types of ads for your business, writing effective ad copies and so much more.