All you have to do now is make sure you follow up with the leads you generate and keep your eye on your numbers. I’ve included some basic ad math below to make it easy for you to do this.
You’ll want to check in on the ads once a day. Basically, turn off ad images that cost more per click and lower your bid until you are happy with the cost per click. You’ll know when your bid is too low when your clicks in a day dip below where you want them.
Remember how we selected multiple images for each headline? Monitor which images have a lower cost per click. Turn off expensive images and replace them with images closer in price to the cheaper images. You can click the “create similar ad” button to make this easier.
Finally, you’ll monitor the three different headlines you set up — and be sure to take down the ones that don’t perform.
Be forewarned: These are not your typical leads. You’ll want to follow up with all these people within minutes after they opt in. (This can be done automatically with auto-responders.) The amount of time you have to contact them while they’re still thinking about you is about four minutes. If you can find a way to cut the length of time between when they’re on your site and when you contact them, you’ll win at this game.
Now, let’s do some math to validate your advertising spend.
Determining return on investment
You can expect about 10 percent of those who click to also provide their contact information. I’ve seen websites get into the 20 to 40 percent range, but only after weeks of testing and pruning ads.
Use this rough formula to justify the ad cost:
Monthly ad spend / cost per click = clicks to website
Clicks X conversion rate = number of leads
Leads X your close rate = houses sold
– or –
$350 (spent in a month) / $.35 (average cost per click) = 1,000 clicks
1,000 clicks X 10 percent conversion rate = 100 individuals’ contact information
100 leads X your close rate = number of houses sold
These simple equations should help you validate the $350 ad spend. After you find a profitable funnel, you can really open up that budget and scale it.
The next step
I hope you have learned something from these articles and can find a way to implement Facebook ads in your business. When you do, be sure to message me and let me know how it worked for you.
But that can wait.
I really want to know what you think right now. What’s stopping you from implementing this Facebook campaign today? Have you tried this before? How did it work?
Please leave a comment.
Tyler Zey is an award-winning digital marketing expert who frequently works with small businesses. He also plays clarinet professionally in several orchestras. Currently, he is the digital marketing director and contributing editor for the Real Estate Digital Marketing blog on easyagentpro.com.