The fact remains that these ads can be a tremendous growth injection for your business if you use them correctly and by that I mean paying attention to
Staying on top of your performance METRICS, meaning looking at your ad daily to see how it is converting in terms of your “cost per lead” is important.
Here is why. You want to remain within a certain range of what you are paying “per lead” meaning somebody takes the desired action you want them to take, which could be
- Opt-ing into your list
- Registering for your webinar/workshop
- Clicking through to your website
- Liking your page
- or actually completing a “transaction” on your website like purchasing your product.
To keep track of the METRICS Facebook offers you a nifty little tool called the CONVERSION TRACKING PIXEL.
This is a tiny bit of code that you install on your website (have your web designer do that for you) of if you are using a tool like LeadPages to create your opt-in and sales pages you can actually easily install the code yourself. ( I did it and I am so not a tech person.)
So let’s say you are driving traffic to a product page on your website,you would place the pixel on the checkout page where the transaction is confirmed. Then you know that your Facebook Ad just yielded a successful conversion. Somebody saw the ad, clicked through to your site and took the desired action, purchasing your product.
This pixel also lets you know how much money you spent on this one particular conversion. How much did it cost you to convert this person into a paying customer.
You want to make sure that cost per lead is in a certain range. On average it is recommended to keep it between $1-$5 which personally I find a little high. I like to stay in the $1-3 range.
If your cost per lead exceeds this range, your ad needs adjusting.
That is why it’s so important to monitor the metrics of your ad on a daily basis so you can make these adjustments and get your money’s worth.
Love them or hate them, the truth is Facebook Ads can be a tremendous growth injection for your business when done right. Since there is a lot that can can go wrong, I want you to be aware of the 5 BIGGEST BEGINNER MISTAKES before you start spending your hard earned money. Print out this nifty cheat sheet before you create your ad to ensure you get the best return on investment.