Do you want to build your email list for your health practice? Want to use FB ads to get to your goal faster? Ready to throw some money at the "problem".
Think before you start spending or, if you are already spending and you're not quite getting the results you had in mind, read on.
Facebook ads can be an incredibly effective tool for reaching your target audience. But the ad platform is increasingly complex. In inexperienced hands it can be a real money pit.
Here are 3 things you need to be clear on before you start testing the power of FB ads.
- What are you trying to achieve?
- How will you get them (that is your ideal client) to know, like and trust you?
- What is it worth (how much will you pay for your FB lead)?
Let's say that you want to build your email list. Facebook can help you do that with conversion ads. These ad types have the aim of getting people to take a specific action on your website. In this case you want them to sign up for something. It could be a newsletter or a download of lead magnet (an eBook or a free checklist for example).
You don't just want anyone signing up for your freebie right? You want to target people who are most likely to be needing what you offer.
So that's two things right there that you need to get clear on:
- Who's your ideal client
- What is that that you're offering them
So let's say you're a nutritionist who specialises in working with kids. In this case your ideal clients might be parents with kids in the age range 2 to 12 who live within a 15 km circle of your practice. There's your ideal client.
Perhaps you've got a special knack for dealing with fussy little eaters and you've developed a meal plan that's highly nutritious and tastes great on the developing taste buds of young children. There's your offer.
The know, like and trust factor
You have got yourself a new lead and, if you've done your homework as per the above step, it's the exact type of lead you want. Hurrah! Now what?
The great news is that your new lead actually wants to hear from you. They've entrusted you with their email address. That's a significant vote of confidence. So the way you continue to engage with them is crucial in terms of getting them to like you and build trust in the process.
You can do that in a variety of ways, but what it boils down to is that you want to share content that they will find valuable and relevant. This means you need to have a deep understanding of your ideal client's challenges and pain points.
Each challenge or pain point is an opportunity for you to share your insights and offer them quick wins and solutions. It might be an article on your website or it could be a video clip or weekly email tips. The choice of content format is so wide these days. If in doubt, keep it super simple and just stick to a regular email that directly speaks to their pain points.
The key here is consistency and value.
What is it worth?
How do you know whether what you're paying in Facebook Ads is worth it? To answer this question you need to understand two concepts:
- Customer Lifetime Value or CLTV. Put simply how much does an average customer spend with you over the life of the relationship?
- Your lead to customer conversion rate. How many of your leads will become customers.
Understanding these two figures will help you put a value on how much to pay for your leads.
Let's say your average customer buys $5000 in health services from you over their lifetime.
You have spend $10,000 on a Facebook campaign which has generated 200 leads.
Now let's assume that 20% of all your leads become customers. That would be 40 new customers worth generating revenue of $200,000 (40 customers x $5000).
In this scenario, you have spent $10,000 to generate $200,000 in sales. Depending on how much it costs you to deliver your services, most people would consider this a successful campaign.
On the other hand if your CLTV is just $200, that same $10K advertising spend would generate a loss of $2000 (sales of $8000 minus ads of $10,000 = a $2000 loss).
Regardless of whether you are already spending money on Facebook ads or you are only just considering tipping your toes in the Facebook Ads pond, it is a good idea to consider or revisit each of these three points.
If you are new to the game, I recommend you spend your time really getting clear on your ideal customer (point 1) and developing an engagement strategy before you press the button on your ads.
If you are already seeing quality leads coming through from your Facebook Ads; GREAT. It may be worthwhile looking at the way you go about building trust. A small tweak in engagement strategy may give you better lead to customer conversions (and improve return on your ad spend).
Finally keeping a regular eye on your customer lifetime value just make good sense in terms of getting value for money and may even suggest you can afford to increase your budget.