6 – Embrace Paid Advertising To Grow Your Reach
Note: This is the sixth post in my 7 Day Double Your Money Challenge.
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Do you know what your only truly limited resource is? It’s time. We all end up with just twenty-four hours per day. What does that have to do with getting traffic and growing your reach? It’s simple. You have two options when it comes to reaching more people. You can spend a lot of time creating fresh content, posting on social media, reaching out to podcasters, bloggers, and vloggers. Or you can get in front of your ideal customers through paid advertising.
Yes, paying for advertising can seem a little daunting. After all, there’s no guarantee you’ll make your money back. The good news is that it’s easier and more affordable to get started than it has ever been. You can start small with as little as a few dollars per day and scale up as you learn more about what you’re doing.
The best place to start
Although you really need to decide based on where your buyers are, a great place to start might be Facebook ads. Pay attention to the ads you find yourself clicking. Maybe it’s an interesting tagline and a pretty cover for a new book. Maybe it’s a new pair of shoes, or a planner that promises to help you stay productive throughout your busy day. Think about that ad. What made it so appealing? What hooked you?
Once you’ve figured this out for a few of the ads that have grabbed your attention, it’s time to give it a try yourself. Start with your best selling product, or the lead magnet that draws in new subscribers like crazy. Why do people buy or download it? Are you solving a problem? Do you tackle a hot topic? Try to zero in on what’s making this such a big hit for you already. Then craft a Facebook ad that reflects this.
Do your research and test for best results
Next it’s time to do a little homework. Read through some blog posts about getting started with Facebook ads. Watch a few tutorials. Go through the one that Facebook provides and go through the steps to set up your account. Make sure you have your pixels installed (it’s a Facebook thing… those tutorials will explain), so you can track what’s working and what isn’t’. Then create that first ad.
Create at least two more ads that are similar to the first so you can start to test. A great place to start testing is with images. Pick three different images, but leave everything else the same. Launch this first set of ads with a limited daily budget. If you want to spend just $5 per day, that’s fine. If you can swing it, go up to $10 or even $15, but keep your bids as low as possible. This will get you data faster. Let them run until you get a feel for which one performs best.
Keep that add and start changing something else. Maybe it’s testing an add with little text against one with slightly more text and one with a lot of text (maybe an entire article or blog posts). Maybe you test different headlines. Or different calls to action. Keep testing and tweaking until you find a profitable ad that you have a hard time improving upon.
Understand your numbers
Let’s say you spend $50 on ads and get back $60 in sales. That’s only $10 profit, right? It’s not a lot of money. You might look at that and conclude that it’s not worth it. But, consider this: $10 means a 20% improvement on your initial investment. Way better than money in the bank, right?
So, if you’re new to ads, start slowly and pay attention to your results. From there, the sky’s the limit. Invest some of your profits into running more ads. Create ads to different products and opt-in offers. Branch out into Instagram and WhatsApp ads or cross over to different social media platforms, or even Google Adwords. Keep buying ads and to grow your reach and your profits.
A Message from Norma... In case you're curious, I started working online in 1997 - in the dinosaur days of the internet. My purpose here at HomeFreeMedia is to help YOU build the business of your dreams by developing and recommending top quality products and tools. This will also result in profit and affiliate commissions for me, so we both win!
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