I know a guy who saved $30,000 ... and then spent it ALL on ads ... and didn't come close to making his money back. (#ouch)
When I diagnosed the problem ... here's what I found:
He was so sure his ads would work, that he went right out of the gate with a large daily ad spend ... he created too many ads at once and couldn't keep track of them all ... had blind faith that it would work ... and 30 days later was out of money.
He didn't provide value in the ads. They were typical 'billboard' style ads on facebook that had low relevance, low engagement ... and provided NO value.
I approach ads very differently.
Remember, target the right people with value first, then show them you can help them by actually helping them ... and then provide a way for them to reach out to you.
Also, about your ad spend ... you can test ads for $10 a day ... you don't need big budgets for the type of ads you'll be running.
Imagine if you set aside $1,000 in advertising to 'test' some ads ... that would mean you could test 3 different ads for 30 days at just $10 per day.
And the way I do it, you wouldn't let an ad run at $10 per day ... for 30 days ... without seeing some results.
You'll know in 4-5 days if you're getting results ... and that's only a $40-50 investment.
This is why fb ads are different to traditional advertising.
With traditional advertising, you pay an upfront fee to place an ad ... and that's it.
The ad is placed. You can't change it. The money is spent.
Yet, with facebook ads ... you place the ad ... you only get charged if the right people click on it ... and then if it's not working ... within a few days ... you can turn it off.
This is how you minimise your risk.
1. Use Value Based Advertising the way I have been describing it, and
2. Use small budgets to test your ads over short time periods.
So, by minimising your risks ... what is the potential reward?
Well, let's just say that your average client spends $1,000 with you.
And let's say it costs you $100 in advertising to attract one new client.
That means you'll receive $1,000 in client fees and will have invested $100 in advertising, which is a ROAS of 1000/100 = 10
That's an X10 result ... or 1,000% return.
This is quite typical.
But here's another example ...
Maybe you're a dentist and it costs you $1000 to attract a new client, and your clients fees are $8,000 ... that's a ROAS of 8.
Now, everyone loves doing fantasy maths ... but when it comes to it ... you have to know what to do ... and actually do it ... to turn theory into reality.
And when you practice ... and get great at the basics ... you then get to add a few extra layers ... and you can get a result like this.
In my best campaign yet ... I spent $270 in ads, and made $31,000 in client fees ... that's a ROAS of 114 ... or 11,400% return!
Please don't expect that type of result straight away ... as there were numerous strategic elements in place that caused that to happen.
But I would NEVER have achieved that result if I didn't start small. With caution. With smart strategy.
So, let's bring this back to you. What's possible for you ... in your business, your practice, your facility?
If I were you, I'd be intrigued enough to want to know more ... but I'd have some serious questions, like: