The Real Cost Behind Launching a Facebook Ads Campaign…
I get it. It’s scary, isn’t it? When you first want to delve into digital advertising.
There are so many questions whirring round your head like, how much will it cost? Will I see a return on my investment? Will I blow all my money and have to explain myself to my partner?
I’ve got some good news for you though. Facebook advertising is the most cost-effective form of digital advertising available to you right now.
Well, if you know what you’re doing that is…
How much does it cost then? Relatively speaking?
Well to answer that, there’s three things you need to know. Who is your target audience? How much is a prospect worth to you? A sensible and methodical plan of attack for your campaign. If you know those, life will be sweeeet!
Now, I’m not interested in selling you a false dream…
We’ve got clients that spend just £5 per day and see fantastic results. Other clients have to spend twenty times that and more! But, and this is important, it is all relative.
If you can secure three hair appointments per day for your salon from a budget of just £5, you’re laughing. Equally, if you can sell one £25,000 car a week off a daily budget of £50, happy days.
Do you see what I mean?
The relative cost of your advertising entirely correlates with the profit you make on a sale. For higher value sales, expect to spend more per acquisition.
Once you’ve secured a few sales though, and you can see that flow, I promise you it will feel like money well spent.
Which is when things can start to get really clever…
Now you know, let’s up your marketing game!
Time to focus on brand awareness, retargeting, and devising kick-ass campaigns. Ones that expose your business to more people and continue to put you in front of decision-making prospects.
Imagine a situation where you know exactly what it costs to acquire a prospect? Knowing how many of those will convert into customers and what the lifetime value of that customer is to your business? I suspect you’d be willing to pay for that.
So, to conclude…
Calculate what a customer is worth to you over their lifetime of doing business with you.
Then, decide on a figure you’re comfortable with spending to acquire that customer.
That will give you a true feel on what you should be spending on your advertising.
If you’re stuck with what to do with your advertising, don’t hesitate to jump on a free Discovery Call with me. I’d love to help.
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