Should Your Business Run Facebook Ads?

Since iOS 15 and all the new privacy changes Apple have been making, it’s no secret that running profitable Facebook Ad campaigns have become more challenging. Lots of people right now are experiecing higher advertising costs and lower conversions, which results in a smaller ROI. So, does this mean Facebook ads are now dead!? It largely depends on HOW you're running Facebook Ads. See also... 📝 Free Masterclass on the 5 Steps to Predictable Appointments Each Month: http://www.salesappointmentsmasterclass.com Chapters: 0:00 - Is FB ads dead? 0:42 - Old FB Strategy 1 1:52 - Old FB Strategy 2 3:53 - Old FB Strategy 3 4:43 - Old FB Strategy 4 5:53 - Old FB Strategy 5 And just to clarify, when I say FB ads, I also include Instagram, because it’s owned by the same company. So, let me go through some of the OLD strategies that are no longer as effective on FB ads and what are some of the NEW strategies that you implement right NOW to have more profitable FB ads which generate a positive ROI. Facebook conversion objective. This is where you would have a pixel on your website and tell Facebook each time a visitor lands on a certain landing page, you’ve generated a new conversion. Since IOS15 these conversions can no longer be tracked accurately. Which means Facebook’s algorithm won’t have enough conversion data to show your ads to other people that are more likely to convert. Solution? Either A) Use the FB conversion API to accurately give Facebook any data of new conversions or... B) Just use the Facebook Lead Ads objective Quick sales. So in the olden days of FB ads - which was just a few years ago - you could show someone an ad about a problem thay you solve, they go into your funnel and very soon they convert into a client. And by soon, I mean within a few weeks. And this was quite common. However, today, people are a LOT more skeptical. And it’s much harder to get leads to convert into clients very quickly. Now this is GOOD and BAD. The good news is that if your competitors are running FB ads and they don’t get any conversions within a month, they will probably stop running ads, and chances are they are also not going to follow up with the leads that they’ve generated for the long-term. Whereas if you have a long-term mindset and a long-term strategy to follow up with leads over many months or even years, you will be able to convert a lot of the leads that don’t convert with your competitors because you understand that to get conversions it takes time to build up trust and build up a relationship with your leads. So with your Facebook ads, you need to make sure now more than ever you have a long-term strategy or a way of following up with your leads automatically for a very long time, if you want to maximize your conversions. And if you’re not doing this, quite frankly, you’re losing money with the leads you’ve already paid to generate. Super detailed targeting In the past, you would really drill down on who you want to target as an ideal client, by matching lots of different interests in the detailed targeting section of Facebook. But today, Facebook’s algorithm works best when you just point them in the direction of your audience. Having broad audiences is something Facebook has been pushing for a while now and they have already started to remove many specific detailed targeting options: https://www.facebook.com/business/news/removing-certain-ad-targeting-options-and-expanding-our-ad-controls Getting distracted with the wrong kind of metrics In the past and even sometimes still today a lot of people are still creating ads for brand awareness. In other words, This means creating FB ads based on video views, engagement and reach. Unless you’re a big brand like coca-cola, starbucks or target or a business along them lines, you’re probably in most cases just going to end up wasting your money. Instead, you need to focus on FB ads that are designed to get conversions NOT brand awareness. Now some people will argue that brand awareness will lead to conversion, but I would argue if you start with a campaign that focuses on conversions, you can get the brand awareness anyway as a bonus… But the difference is the ads will be focused on getting sales as the priority. And the final old strategy with using FB ads is using FB ads on it’s own. In the past, people would 100% rely on FB ads completely to grow their business. But putting all your eggs into one basket like that can be very dangerous. On top of that, even if you have profitable FB ads, it’s still never going to be AS profitable as winning clients organically using free or low cost channels.