If you’ve stumbled across this article then maybe you’re looking to grow your online revenue or gain new leads via paid social? Amazing, I can’t wait to tell you my top tips to help propel your business forward!
Having worked on a wide range of social platforms over the last decade and setting up my own agency, Circulate, I’ve learnt how to successfully generate a huge return on investment through strategic content marketing. This has allowed us to create large scale revenue for small, medium and large sized businesses across the globe. This is a true testament as to how we have been able to scale our digital marketing agency not just within the UK but outside too, with an office in Sunny Barcelona! I promise I’ll only mention that once!
The basics of supercharging your paid social campaigns
Making money through paid social requires some fundamental ingredients in order to ensure that it is a success and you must have these basics in place in order to supercharge your advertising campaigns:
- A strategic goal behind your activity
- A solid plan for the type of customer that you’re looking to attract
- A product or service that people either need or LOVE!
- A well thought out user experience that is optimised for mobile
Most importantly… a sales funnel that takes users on a journey and turns users from a prospective customer into a happy buyer!
Let’s dive into a bit more detail.
A strategic goal behind your activity
Is your plan to generate leads, direct revenue or to create brand awareness that works as a long term prospecting strategy?
First things first, you need to spend time understanding what stage you should start with and most importantly, you need to understand your sales cycle in as much detail as possible. This is a huge factor as to whether or not your campaign is going to be a huge success or a massive fail. Either way, you’ll need to learn quickly and adapt your strategy.
A great way to start this is by understanding how long it takes to convert a customer from start to finish. If your normal sales strategy takes 3 months of hard work and negotiation, then you’ll need to work on top of the funnel marketing approaches by providing users with useful and insightful content and then feeding them into a tactical marketing funnel which builds trust for your product or service and leads them to convert later down the line.
If on the other hand, you are selling clothing or a product of some kind, then this is a quicker sale and you need to make sure that you’re focusing on the right incentive to get users discovering your content and clicking on your website to then get fed into a shorter marketing funnel that creates a sense of urgency to buy your product.
We work with a range of fashion brands and achieve some fantastic results through creating a sense of urgency around flash sales and promotions. If your product or service is good then customers will be snapping your hands off.
Here is a screenshot just to show you that I am not messing around here. With a targeted funnel to the right audience, you’ll be amazed by the results.
In this example above we ran this campaign for just two days on a 3 for the price of 2 website promotion. Total spend here was £463.66. This provided us with a return on investment of 10.73 which generated revenue of £4,975.91.
A solid plan for the type of customer that you’re looking to attract
This is just as important as understanding your sales cycle because here you need to know who exactly you’re targeting via paid social. I like to think about this as an overall qualification process. You need to weed out the users that are probably not the best fit for your product or service because otherwise you’re digging into your profits as a business and we don’t want that now do we!
The Facebook Algorithm is very advanced and allows you to target customers based on a wide variety of demographics and therefore you can be very specific on who you want to target via the platform itself.
Some key points to note here
- What is the price point of the product and is it at a cost price that your ideal customer is likely to whack out their bank card for online? If its a service are they likely to enquire if its a price that is well above your competitors?
- The location of your prospective customer. Some areas are cheaper to bid on so maybe there is an opportunity to lock in some hot spot areas before scaling out a countrywide campaign
- What kind of things does your customer care about in relation to what you can offer
- What problems can you solve for them?
There is a reason for understanding the points above. This will make up your content strategy for selling a product or service online and ultimately allow you to understand and connect with your customer more!
A product or service that people either need or LOVE!
Similar to the above, I always like to think that a good product or service is something that you either need or love. You need to understand if your product fits these criteria because this is a determining factor of whether or not customers are going to buy into you.
I love the scene from The Wolf of Wall Street where he asks someone to sell him a pen.
- It’s an amazing pen for professionals
- It’s a nice pen
- Well this pen works well and I personally love this pen
The correct response:
Write down your name on a napkin for me… I don’t have a pen (supply and demand)
Creating a need for the pen here worked and this is what your product or service should also do.
In our case as a digital marketing agency, our goal is to ensure that we fix problems because if we can fix problems our service is needed. If you can’t answer this in a similar way then rework your product or service so that you can, then start your paid social.
A well thought out user experience that is optimised for mobile
I cannot tell you how many times I’ve seen companies trying to sell products or services on a website that just doesn’t work well for users.
If you are looking at this from the basis also that most users on social media are probably accessing your website via a mobile device then the website has to cater for this. If it doesn’t you’ll not be seeing any ROI and its as simple as that.
You can run small test campaigns and use video tracking software to see how users navigate the website so that you can balance this up for yourself.
We actually have a perfect example of this with one of our clients here at Circulate. We started working with them but within a couple of weeks realised that there were some serious issues with converting customers, so we reallocated budget into rebuilding their website. In February we re-launched their website and have since seen record sales!
The last point on my list which highlights some of the top things to successfully drive ROI is a digital marketing sales funnel.
Digital Marketing Sales Funnel
This really is essential for all of your activity. The main reason for this is because users love to shop around and once they leave your website you don’t want this to be the last!
On Facebook and other social platforms, you can create a custom funnel marketing strategy based on various stages of the user journey.
You need to invest time and planning into doing this as this will help you to convert users. My advice would be to build multiple funnels depending on how you’re acquiring customers. For example, you can segment these into COLD, WARM or HOT leads. Every lead is going to act differently to your brand so it’s important that this is tailored.
The digital marketing sales funnel should be broken down as follows:
Who are you targeting and they a new or returning visitor? What level of targeting are you using as well as the budget? You need to make sure that in your campaign setup you have your campaign objective set out and it follows the strategic rationale as to why you’re creating this campaign.
This plays a huge part in your strategy because you need to ensure that the content you’re targeting users with has high levels of relevance with what it is you’re selling.
For example, if you are retargeting users, your strategy is going to be massively different from a prospecting campaign which is to drive users into being interested in what it is that you offer.
In addition to this Facebook uses a relevance score which determines the price you pay for your advertising. You need to make sure that the content you are sharing aligns with their advertising policy. Facebook uses two metrics for ad relevance and landing page experience so make sure this is as high as possible.
Another very important element here is around ensuring that the content is creative enough to get the user to click on your advert. If you’re remarketing users maybe you’re going to offer free shipping if they added to the basket but didn’t convert. Likewise with a service model, if they didn’t complete a form submission you will want to tweak the content so that they come back and contact you at a later date.
We have a magical method at Circulate and its part of our trade secret so I cannot give too much away, but… in essence, you need to make sure that you are structuring your campaigns effectively to avoid wastage of media spend. The goal here is to reduce the cost per acquisition of each customer that you win!
Think about segmenting your campaigns by ad placement, demographics or interest targeting. You can also layer your targeting with secondary interests to make the lead or buyer even more qualified because for example targeting luxury buyers or online spenders means that you’ll be avoiding some users that just don’t indicate these shopping habits that are going to spend large sums of money online.
As mentioned before, without an effective landing page you may as well not advertise unless, of course, you want to keep everything within your social channels.
This also ties in with relevance as you’ll need to make sure that the advert is very relevant to the content that you are targeting from social media.
In the long run, this is going to lower your costs and eventually you’ll build up the magic formula that allows you to achieve ROI like this one below:
So, these are some of our top ways to create a sales funnel through Facebook. Keep up to date with Circulate for more top tips.
If you think your business would be a good fit to work with Circulate then we’d love to see how we can help you. Get in touch with us here.