When you spend $1000 an hour on social media advertising it provides opportunities to spot trends across industries and niches that consistently produce results.
This ad spend also provide clarity as to what is not working and where money is not being leveraged efficiently to maximise the multiplication of capital.
Spending a $1000 an hour on social media marketing provides a huge data set to dissect.
In this post I share the lessons learnt from this activity and provide information that you will hopefully find helpful and share with others and implement in your own business.
Here are the 7 lessons learnt from spending $1000 an hour on social media advertising.
- Don’t advertise to people that want to buy now
- Don’t Sell with Video, yet
- Emotion Wins Over Copy
- You Want Your Book To be Judged By its Cover
- Relationships Trumps Sales Copy
- Bias your AD spend on building trust not generating sales
- First, Find an answer to the Most Important Question
Lesson #1: target a market segment who is going to be ready to buy in 30-90 days
When you running Ads on Social media, your biggest gains ( actions taken not impressions ) are achieved by targeting the market segment for your niche who is going to be ready to buy in 30-90 days.
You can break up most markets into buying personas, roughly calculated as:
- 5% of the market ready to buy now
- 45% are ready to buy in the next 30-90 days
- Remainder to buy after that or not at all
Most people are focused on the smaller part of the market that is ready to buy now. ‘Most People” means your competitors.
This means of course that if you too focus on marketing to this smaller part of the market, which your competitors are focused on, you end up doing a few things.
1. Paying more to get in front of your ideal customer
2. Having to SHOUT louder than the next guy to get the customer’s attention and make a bigger, better, cheaper, offer to win.
In short, its harder to win and costs you more to do it.
So why do so many do this? It doesn’t make sense when you consider:
1. It’s the smaller part of the market
2. Its what everyone else is doing.
The flip side of this argument should, therefore, be obvious.
1. There is a larger market and
2. They are neglected from a marketing perspective
Slow down, change your focus, win before your competitors are even thinking about marketing to them.
Start ‘planting the seeds of goodwill’* in that segment of the marketplace now, demonstrate you can help them in your advertising – by actually helping them. You know that in the next 30-90 days they are going to be buying from somebody and you want it to be you.
Now imagine, after delivering valuable content that helps them, by helping them, that you show them a well placed ‘ask’ or ‘sell’ advertisement, your opportunities for success will increase as you have already warned them up.
LESSON#2: Use Long Form Videos with valuable content BEFORE you try to sell them.
Remember we want to be communicating with the larger, neglected part of the market, that is NOT ready to buy right now.
These videos need to be genuinely beneficial to the party watching them and they need to position you and your business as a trustworthy source of information.
How do you do this?
As we are talking video, the length of the video is important.
- 3-6minutes long appears to be optimal because under 3 minutes there is insufficient time to tell the story, deliver value and create a bond with your audience.
- Over 6 minutes, you will lose the viewers because of all the other distractions.
Speak directly to your ideal customer and make all of your content contextual for that ideal prospect.
What this means is that if your goal is to deliver valuable content in video form to women who are starting their own small business, the context of this content needs to be about that – tactics, strategies, plans, emotions, feelings, frustrations with the process – not necessarily what to wear on your first day of work in your new business.
Bad example? maybe…let me know in the comments
So what do you say?
You need to show that you understand how they feel and what they are going through. That is, the video is about them, not you.
Its about demonstrating empathy and creating a bond on the back of that empathy. Importantly this needs to be genuine.
How do they feel, what do they really want, what frustrations fo they have and what emotions are they experiencing as a result of those frustrations…you know, what its like to be a real human being!
The goal here is to describe those emotions better than the viewer can describe it themselves and build that bond fast.
Because when you decide its time to show them an advertisement to buy, they are going to be more open to your offer, and this will give you a lead in the market over your competitors who are just trying to sell now.
LESSON#3: Content is Still King, layer it with emotion.
Your Killer Content needs to be focused on helping them overcome and achieve.
It has to be actually demonstrable valuable. People measure value differently, that’s why is so important to know who your ideal buyer is.
- Show your content to the right segment – the 30-90 dayers
- Make sure they understand that you know how you feel
- Make sure you are giving them actionable content
And number 3 is the key component – the actionable content actually has to help them.
There are thousands of new facebook advertisers accounts opened every day which means there is a massive amount of noise.
Remember most people are trying to sell directly to that 5%. You want to avoid wasting your social media marketing dollars and competing with them.
Frank . (Kern Branding)
According to Statista “Facebook’s strong mobile advertising business helped the social network report another revenue record for Q2 2018. The company generated $13.2 billion in revenue, up more than 40 percent from $9.3 billion in last year’s June quarter.”
A great way to create these long form videos which are content heavy, is to imagine you are a narrator in a documentary about them.
So instead of saying “hey, buy my stuff” like everybody else, create your ads so that they show you understand their situation and demonstrate that you can help.
People are not interested in you, they are only interested in themselves and how you can help them.
This produces very effective social media campaigns.
LESSON #4: Preframe your prospects before they see a sales message
The saying, ‘You can’t judge a book by its cover’ is against human nature.
When you create your content your viewers are judging you on that content alone they have ( to begin) no other context for you.
So once we accept that we are being judged, we are then in a position to control what that judgement actually is.
This is known as pre-framing…’causing someone to feel a certain way about you before they ever get to know you’
Causing them to judge your ‘book’ in a favourable manner.
A key tactic to achieve this is to demonstrate you can help them by helping them!
Notice a trend?
So each of these matters
- What you say – make everything about them. People like people that are interested in them.
- How you look…but not how you might think. Overproduced, ‘fancy’ Hollywood style videos tend not to work as well as genuine, ‘shot with an iPhone style videos. Like a normal person would. This is WAY more effective in social media campaigns.
Lesson #5: It’s not your sales capability that triggers the buying decisions
It’s the relationship that ultimately causes her, your ideal prospect, to choose you over someone else.
“People buy from people that they like and trust”* to the extent that even if another brand presents an offer to this prospect that could ultimately be a better deal, they will still buy from those that they like and trust.
People are emotional and irrational, and most buying decisions are typically fuelled by emotions.
Spend more time trying to understand your ideal customers, rather than trying to impress him with the offer itself.
Make everything about them, not you.
LESSON #6: Split Your Social Campaign into 2 Synergistic parts
A great social media campaign will be made up of 2 different ‘types’ of ads.
Identify your 30-90 dayers – show them value-oriented ads only – rich in content and that which connects on an emotional level and demonstrates upfront your value to the prospect.
Take long-form form videos and make them the ad. One effective tactic with facebook long-form video is posting and sharing for organic reach first, and then, once the video has a good level of engagement, likes, shares, comments, we promote that post as the ad.
There is none of this ‘traditional’ internet marketing activity associated with the ad.
No email collection
No landing page gates
No call to action
Simply say, “If you like the video then share it with someone else that might also find it valuable”
Just show them the video!
Sales Oriented ads are the 2nd part of these social media campaigns.
You only want to show the sales orientated ads to those that have consumed your value oriented ads.
This ensures you are minimising your ad spend waste, minimising your cost per click and maximising your reach to the right people you have reframed to know, like and trust you.
It logical to think that if they have already consumed some of your videos, that they will be more prepared and willing when they are ready to buy, to buy from you.
Why would you then show sales oriented ads to people who do already know like and trust you?
So consider a $10,000 per day ad budget, take $6,000 of that daily budget and spend it on the relationship building portion of your campaigns. In this
The remaining $4,000 of the daily budget gets spent on running the sales Orientated ads.
This works like a continuous machine of introducing more warm prospects into the bucket and then showing them an offer to buy what you’re selling.
The content itself has replaced the email opt-in form of old.
Once a prospect watches a video, you can place them on a retargeting list – which is the same as having them on an email list.
What is working is to put them into a retargeted video funnel, where you are spending your ad budget to get these videos in front of those people that have already seen other videos from you and engaged with that content (within the variable you define).
When you are building your social media campaign, its worth staying up at night to answer this 1 fundamental question.
People don’t buy your stuff for a few reasons.
- They dont want it – then why are they watching you?
- They can’t afford it – are they using a $1000 smart phone to watch you? Money is likely not the issue
- They don’t believe you.
To overcome the skepticism from #3, you must answer that fundamental question…
What must we demonstrate to be true for someone to want to do business with us?