Hi all, after launching 3 campaigns in the last month using Facebook Ads, I've come to the conclusion that success in this business isn't guaranteed. It's painful to spend money and not see any results. Yes, technically, all is not lost because I've collected marketing data; I see what works and doesn't work. But I hate spending money and not getting sales. I can get a better return investing in the stock market. I haven't given up though. Persistence is key.
Businessman Tilman Fertitta wrote in his book that the number one reason why business fail is because they lack enough working capital (for things like marketing, etc).
Do you agree?
I believe that another factor is traffic temperature. Facebook Ads is a source of cold traffic. Cold traffic = impulse buys. Jim Edwards, who is the author of the book Copywriting Secrets, defines cold traffic as "people who don't know they have a problem until they see my ad." He also said cold traffic is the hardest traffic to convert but if you can get it to convert into sales, it's the most lucrative. There's more cold traffic than there is warm/hot traffic. There are some entrepreneurs making $1,000,000 a month in revenue using Facebook Ads.
An analogy I like to use to help people understand cold traffic is the supermarket checkout. I don't know what checkouts are like in the USA, but here in Canada, most supermarkets display chocolate bars and gum near the checkout. People waiting in line to buy their food can make impulse buys. This boosts the customer's average order value for the store. The thing to note about impulse buys at the supermarket is that the bulk of profit doesn't come from chocolate bars and gum. It comes from selling other items in the store. When someone goes shopping to buy food for the week, they're not buying chocolate bars and gum at the checkout. They're typically buying food for meals. The amount of sales from impulse buys at the checkout is relatively low compared to other items like meat, bread, milk etc. The impulse buys are similar to sales on Facebook. They're sporadic.
I think that's why I haven't had much success using Facebook Ads to sell ecommerce products. It's difficult to get Facebook users to buy products when all they wanted to do was browse their friends FB profile.
PPC Coach did a case study where he sold a print-on-demand coffee mug and got 3 sales after spending only $80. He makes it look easy. It wasn't a retargeting or Look Alike campaign either. It was a broad interest campaign. But the case study was done in 2020. I copied his campaign and didn't get any sales.
In your opinion, is it possible to get 3 sales after spending $80 in 2023?
Thanks
Businessman Tilman Fertitta wrote in his book that the number one reason why business fail is because they lack enough working capital (for things like marketing, etc).
Do you agree?
I believe that another factor is traffic temperature. Facebook Ads is a source of cold traffic. Cold traffic = impulse buys. Jim Edwards, who is the author of the book Copywriting Secrets, defines cold traffic as "people who don't know they have a problem until they see my ad." He also said cold traffic is the hardest traffic to convert but if you can get it to convert into sales, it's the most lucrative. There's more cold traffic than there is warm/hot traffic. There are some entrepreneurs making $1,000,000 a month in revenue using Facebook Ads.
An analogy I like to use to help people understand cold traffic is the supermarket checkout. I don't know what checkouts are like in the USA, but here in Canada, most supermarkets display chocolate bars and gum near the checkout. People waiting in line to buy their food can make impulse buys. This boosts the customer's average order value for the store. The thing to note about impulse buys at the supermarket is that the bulk of profit doesn't come from chocolate bars and gum. It comes from selling other items in the store. When someone goes shopping to buy food for the week, they're not buying chocolate bars and gum at the checkout. They're typically buying food for meals. The amount of sales from impulse buys at the checkout is relatively low compared to other items like meat, bread, milk etc. The impulse buys are similar to sales on Facebook. They're sporadic.
I think that's why I haven't had much success using Facebook Ads to sell ecommerce products. It's difficult to get Facebook users to buy products when all they wanted to do was browse their friends FB profile.
PPC Coach did a case study where he sold a print-on-demand coffee mug and got 3 sales after spending only $80. He makes it look easy. It wasn't a retargeting or Look Alike campaign either. It was a broad interest campaign. But the case study was done in 2020. I copied his campaign and didn't get any sales.
In your opinion, is it possible to get 3 sales after spending $80 in 2023?
Thanks
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