Ever since I became part of the Ten Ten Formula training platform I have been absorbing loads of new knowledge on daily basis. Our team is constantly discovering new ways of driving traffic, and I want to share with you some of our recent learnings and discoveries.
Major mistake done by most people who step into paid advertising arena is to totally ignore the testing and measuring – they throw darts at people.
I have met some business owners who used to spend money on a regular basis on traditional, old school marketing such as radio advertisements, newspapers, magazines and when someone showed them how to advertise using internet they got excited. Soon they discovered that it is possible to display an advert to a pretty targetted audience and only pay when someone clicks on the ad. They thought they just discovered the biggest secret and they were willing to put the credit card behind the bar. They were certain that their business will grow now as never before. However, 30-60 days later and couple of hundreds or even thousands of dollars further down the line, they discover that there is no major difference in the amount of new customers, why?
Tips For Paid Advertising – Testing And Measuring
Time to discover several variables, they will show you what works and what does not. Effective paid advertising is an equivalent of turning yourself into a scientist, it might sound scary but remember you are putting your own money into it. By knowing the variables, you can do more of what works and less of what does not. Again a common sense that is not that common. So the variables you need to keep an eye on in paid advertising methods are:
CTR (click through rate) – it will tell you how good your heading and copy is
CPC (cost per click) – CPC will go down if you learn to discover various niches.
CPL (cost per lead) – Identify and record best sources for cheap and quality leads
CPC (cost per customer) – Now you see if you have any profit left.
Soon you will also discover that a lead does not equal to a lead. Sounds strange but what it means is that the quality will differ depending on the source of the lead.
Tips for Paid Advertising – There is a hierarchy of leads that is worth learning.
– SEO quality content lead
This is on top of the food chain. Here you deal with the most sophisticated potential customer. He knows what he wants so he types a specific phrase in the search engine and searches for content.
– Solo ads leads
Solo ads are becoming a popular method of paid advertising. Although the challenge here is to find the right source provider. ‘Right’ meaning a provider that has relevant subscribers e.g. if you deal with internet marketing, you would not like to be sending your solo ad (promoting email) to subscribers who opted-in for a weight loss free ebooks. That can be hard to find out most of the time, so the approach done by most marketers is try and measure. The tip with solo ads is:
Be frugal for a while, place small ads, measure your results, learn from it, loose some money, try again, learn from it.
Once you collect some results you can compare them and make intelligent decisions: do more of what works and do less of what does not.
– Facebook Ads
According to a survey done by MerchantCircle: 22% of small businesses have already used Facebook ads, Over 30% said they wouldn’t run another campaign, and nearly 70% of the the business owners said that it didn’t produce results to help to acquire new customers. So the answer is learn the game. I will soon publish a full article soon on various strategies how to use Facebook ads, but here pls find couple of tips.
- Set goals, be clear and plan forward
- Get creative with targeting your customers
- Choose engaging and attention grabbing images
- Test multiple ads
- Become scientist – test and measure
Most Crucial Tip for Paid Advertising – Keep a journal!
In paid advertising, in order to be able to make intelligent decisions and do more of what works and less of what does not it is good to keep a journal. Remember most people do not get lucky twice. You want to see
– who opens your email and who clicks your links
– what subject lines get people to open
– see what get people to click
– record best copies that persuades people to buy
– best pictures that get people to click
– best sources that bring the cheapest leads.
Know what works and then improve, improve every day by 10%. Me and Mari we have a weekly routine of sitting together and looking at our existing strategy and working on how to improve it more by another 10%.
I hope these tips would help you on your paid advertising!
Here’s To Your Success
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