I know there’s a lot of panic about rising ad costs. And I have some good news about that and some bad news. 

The bad news is there isn’t some quick trick or hack to fix this. 

The good news is there is a proven SYSTEM that any entrepreneur can use to get costs DOWN. 

A system that you can learn TODAY!

Check out this episode and get the skinny on… 

  • The proven system that we use every day to lower ad costs. 
  • How to adjust your budget allocation and what percentage you should spend on what kinds of ads, when! 
  • How to test your creative and make sure you are creating enough angles to gather the correct data
  • A full breakdown of the case study where we lowered a client’s cost-per-lead from $60 to $6! 
  • And more!

We wouldn’t be in business if Facebook ads were too expensive. All those prominent entrepreneurs and corporations wouldn’t use Facebook ads if they didn’t work. 

The bottom line is they work. 

You just need to switch up your strategy. 

 

I’d love to know your biggest takeaway from today’s episode! DM them @EmilyHirsh after you listen!

WANT TO WORK WITH TEAM HIRSH?

Honestly, we’re more than a marketing team — we’re a tactical partner who will care about your business growth just as much as YOU (maybe even more)! We’re here to play the long game and help you create a powerful impact! APPLY NOW!

SUBSCRIBE & REVIEW THE NOT FOR LAZY MARKETERS PODCAST!

Thanks for tuning into this week’s episode of the Not For Lazy Marketers Podcast! If this podcast has added value and helped you in your business journey, please head over to iTunes, subscribe to the show, and leave us an honest review. Your reviews and feedback will not only help us continue to deliver great, helpful content, but it will also help us reach even more amazing entrepreneurs just like you.

 

READ THE EPISODE TRANSCRIPT

Intro: I want you to go look and tell me any business that you look up to that is doing well  and is succeeding, and is in your industry. Are they running ads? Unless you  have an industry that is very behind the times, you’re likely going to see that they  are. Has Russell stopped running ads? Has Digital Marketer stopped running ads?  Have all of these big brands stopped running ads? No, because they still work. And so  that should be one of your indications.

 

You are listening to the Not For Lazy Marketers Podcast Episode number 398. 

Emily: Hello, everybody. Welcome back to the podcast. Happy day, happy week. Happy May,  all the things spring, although I will say, in Texas, we don’t have a spring. It  lasts for like two weeks, and now it’s already like 85, 90 degrees every day. It has  been a really hot spring already. I’m very worried about the summer. Like, what  does this mean for the summer? If it’s already 90 degrees every day in May and April,  it was really hot. I’m such a baby with the heat. I just can’t, I like to be outside.  And I don’t like to feel that stuffy air, but I live in Austin. I love Austin all  the other times, but like six months out of the year, it’s too hot. So I want to leave  back to California or the mountains is my preference. So it has been really hot. I think that is a bad line for our summer here.

Anyways, today I am talking about  how we took a lead cost from $60 down to $6 cost per lead. Ad costs are a big  concern for people today. I see it a lot. I get asked this question all the time. I see  people who are very concerned about the cost of ads and the fact that they’ve gone up  and can ads still be successful and what do I do? Andmy cost really is so  high that I can’t afford it anymore.

So I want to address that.

And starting  next week on Monday, we’re going to be doing a live challenge that is focused on  getting your first ad live. And the promise is that with that ad, we’re going to launch it  on day two out of five of the challenge. You’ll actually have an ad live by that day. And the promise is that you’ll attract a  thousand plus new clients or customers, and also cut your ad costs down using this  system. So if you want to join in on that challenge and actually push  yourself to get an ad live, everyone can do it. It is Hirshmarketing.com/challenge.  Even if you’ve never run ads before, or you have run ads, I’m really teaching a  very specific system and way to look at ads and then actually implementing that in  your business. So hirshmarketing.com/challenge. One of the things in this  challenge, we ran it before in February, we got amazing feedback from it.  I have 50 screenshots of people who are sharing the results they got from this  challenge in five days. I still get messages from people, even recently, who are  making money off of the original ad they set up in the last challenge, so literally don’t miss this.

The reason why I’m  doing it again is I’m adding a little bit more depth to it, around how to utilize the system to  decrease your ad cost because the system is exactly how we achieved this result (I’m talking about it in this podcast) taking a $60 lead down to $6. I recently did a podcast on Are Facebook Ads Too  Expensive, and you can go listen to that podcast, it was a couple weeks ago. My  answer is yes, Facebook Ads are more expensive, but they’re not too expensive. So  there’s a way to still make them work for your business and you have to start  thinking that way. You cannot operate from this really scared place of, everybody  saying Facebook Ads are too expensive, should I even do them? I want you to go look and tell me any business that you look up to is doing well, is succeeding and is in your industry. Are they running ads? Unless you have an  industry that is very behind the times, you’re likely going to see that they are. Has Russell stopped running ads? Has Digital Marketer stopped running ads? Have all of  these big brands stopped running ads? No, because they still work, so that should be  one of your indications. I would not have clients if ads don’t work and we have clients that are crushing it. So I want to talk about how to get that cost down. A lot of you wish  there was like, here’s these magic audiences go load these and you’ll have really  inexpensive ads or here’s this like ninja ad hack. That’s going to cut your cost down, but it’s really not about that. It’s not about a secret audience or a ninja ad hack that  you can go and execute, it’s about the system and the way that you look at your  ads. So I’m going to talk about that here. This is how we took this combination of  things and got lead costs that were at $60 down to $6, and it was only in two  weeks that we were able to do that. So it didn’t take that long and then we can scale  the ad spend from there.

I’m not going to give the whole system away because that’s what I’m doing in the challenge next week. So if  you’re there, you’ll see the whole system put together. But one of the things that I  teach with ads is to leverage different types of ads. So basically with marketing, there’s three goals that you’re trying to accomplish.

  1.  You’re trying to grow an audience of your ideal customer.
  2. Then you’re trying to  generate leads, email leads on your list
  3. Then you’re trying to generate sales.

So with each layer of this, you should have specific ads to do those things. One of  the places people miss out on the most is ads that can be leveraged to grow their  audience. Those are called Visibility Ads. That’s the type of ad we’re going to  actually get live next week. The way I show you this, you’re able to take these  visibility ads to increase the audience and the people paying attention to your brand,  increase the amount of people doing that. Then you are able to retarget those down the line. 

So with the more expensive ad costs, here’s what’s changed in some cases, not every case, but in some cases running ads directly to your webinar,  like you may be used to, isn’t working anymore. Now that doesn’t mean just stop running ads. It might mean you put a lead magnet  on the front end and you run ads to a lead magnet, then you send all of those  leads to your webinar. Now you have an affordable cost per lead that you can  now send all of those to your webinar. It might mean that you increase the amount of  ad spend to your content, your visibility ads to grow these audiences that you then  send to your webinar campaign. One of the ways that we got this  cost down from 60 to $6 is we increased the percentage of the monthly budget that was  going to this client’s content. So it was going to actual podcast episodes for this  client. It was building an audience of people who went to those podcast episodes and  also who watched their videos in their ads, we did some content videos. Then we took those audiences and we sent them to their  lead magnet. So ads that were costing $60 cost per lead one  of the ways that we got it down to $6 was we were building this audience of people consuming content, valuable content, and then sending that quality audience to the lead magnet. We adjusted the percentages each month that were being  spent to do that. So instead of spending maybe a really small amount, like 2 to 3% of the  monthly budget, we changed 10% of the monthly budget to visibility ads so we  could grow the audience faster. So that’s one of the ways. So instead just like  looking at ads as if they’re black and white looking at them as if you can say,  ‘how do I make this affordable? I need to run ads because I need to generate an audience. I need to generate  leads in sales. So how do I make this affordable? How do I adjust my strategy?  That’s what this system does.

Now I want to move on and talk about this  big piece of it, which is how you’re using ads. Are you layering them? Are you building all  three of those components? Are you leveraging them in your strategy? Should you  adjust the percentage of your ad spend that’s going to one of those components? Then there’s the actual ads themselves, the actual management  of the ad creative and the ad audiences. So what I notice most of the time in  people who have really expensive ad costs and they can’t get them down is just a lack  of overall testing and proactiveness in launching new things. The reality is that in today’s market and marketing in general, the frequency  at which you have to launch new ad creative and new audiences has really increased. Plus, Facebook, the machine, the algorithm wants you to constantly feed it new things, innovative new creative, new videos, new copy. It used to be that you  could just let you know an ad sit for months and it would convert. Now a month is a pretty average lifespan for an ad so when things aren’t working, the pace at which you need to refresh is usually higher than what most  people and most agencies are doing. This is why I have the  proactiveness mentality in my team because we need to be spotting problems before  they even happen and already have the new creative and already have the new  audiences.

So first of all, testing ample creative is key and really getting specific with  angles. Something that I’ve improved on our end internally and with our clients and  teaching Market Like A Pro members is that you have to be really intentional when you want to run ads, let’s say you want to launch a webinar. We’re coming up with specific  angles that we can leverage like 4 or 5, it really depends on the budget, sometimes up to 10 to 12 angles that we can leverage. Then with that, we create  specific creative and copy for those angles. Now we know we’re testing, not  just random, let me try to write a good version of ad copy, but I’m testing specific angles that maybe focus on things like pain and fear, then others focus on solving this problem or addressing this specific frustration, while others focus  maybe more on the positive side and the dream come true side of things for  your ideal customer. So creating all these different angles and all these different versions of creative  just allows you to be a little bit more aggressive at trying to get that ad cost down.  Then also going really deep on it, not just writing surface level copy or  having a basic piece of creative. You really have to take it to the next  level in order to stand out and in order to keep the ad cost down. I do feel like the increase in the ad cost has really pushed businesses on the creative side because in order to  have your ad cost go down and be affordable, a big indication is the copy and  creative. So if that’s not happening, the blunt truth is your  copy and creative isn’t good enough, it’s not standing out enough, it’s not going  deep enough, it’s not resonating with the people who are looking at it enough. 

 

I know on my end, I’ve had to invest a lot of resources, internally I have a  full-time Creative Lead for my own marketing, that I never had before, it was enough to just have a contract designer. We have a full time Creative Manager on the agency side and I’ve added two full-time copywriters and designers to that team in the  last 30 days just because the volume of creative and the  quality of creative and copy has increased so much. So if I’m doing that, that’s an  indication that you need to do the same, investing the time and resources in your  business in order to get that ad cost down.

 

The next piece of this is testing ample  audiences. So testing enough audiences, you shouldn’t have like 4 audiences and  be like, well, my ad costs are too expensive, you know, or 5 audiences. We typically say it’s $5 to $10 a day per  audience, like per ad set. So of course, depending on your budget, you can’t test 50 audiences if you’re spending $20 a day on your ads. Each ad set is  an audience or an audience group, like a theme of audiences and that needs at least $5 to $10 a day of budget. You can have more, but you can’t have less. So based on  that, that kind of tells you how many audiences you need to test, but don’t be afraid,  you know, three or four days down the line to launch new ones, to launch a new  campaign, to test something new, to test something different and to be aggressive  with this and not, you know, try to think outside the box and see are looking or  working. 

 

So how, in this situation, how we took cost per lead, and this was going to a lead  magnet, not even a webinar, $60 cost per lead is insanely high, going to a lead  magnet that then led to a webinar, then it was to a high ticket sales  funnel, which it doesn’t really matter that it was to a high ticket sales funnel. This is  relevant for anybody with a lead magnet or a webinar, or who are trying to get your cost per  lead down. So they came in, it was $60 when we took over the ads, it  had been $60 for the last, like 30, 45 days and they couldn’t get it down. This  individual, I think, was not able to put the time that needed to go into testing a lot of  different things and so their ads were suffering. So they brought us in. We initially weren’t able to get the ad cost down like below $45 for a couple weeks and then all of a sudden things just started working. What we did was we had  over like 15 versions of copy and creative that we mass put out to a bunch of  different audiences. I think they initially used like 20 audiences, because the budget was  more like $400 a day. It was a higher budget. They used like 20 audiences. Then  as soon as one was clearly not a winner they could put another one  in or they could put the budget to another one. The thing with optimizing ads is,  I feel like you have to pair this like aggression with it of not being afraid to just test new things and test new creative and be really aggressive with also not being  afraid to fail. I really feel like so many of you get stuck in the place of, ‘oh my gosh, I don’t  know what to do. Should I add an audience? Should I add new creative? What  should I do?’ One of those things, you should do one or both of those things and you can’t really mess it up because you’re just going to see if it works or not. So don’t  be afraid because there isn’t a rule that says, ‘When the audience does this, then you turn  it off and you put a new audience in’. It’s not, if this, then that or the same every time  because every account, every audience is different and you have to be able to move  with that and be flexible with that. So really the key is tying that aggression. We had so many different variations of creative and audiences and we were  aggressive with it paired with the other piece of, we’re not really afraid of  completely failing. For this, the cost per lead was already ridiculous so it couldn’t really get  worse from there, but we’re not afraid of failing.

You know, this audience may totally  fail, we’ll know in a couple days let’s try it.

This creative may totally not work, we’ll  know soon let’s try it.

It boils down to kind of having that like a bit to not be paralyzed in those  decisions is really key.

 

So those are the major things we did on top of leveraging  visibility ads, leveraging an audience that we retargeted, that brought in those really  quality leads for really inexpensive. It only took about two weeks and we  saw massive, massive drops in the cost per lead and the client was like, ‘let’s scale, let’s double our budget next month, this is crazy’. So that was a recent,  like last month result that we were able to do. 

The last thing I’ll say is, because I asked my team, what was it that  we did? The other piece of this was making sure that the lookalike audiences  they used were really high quality. A lot of people, sometimes I think they use look-alike  audiences that are really old, like the source of them is from a really old list or from  really old web traffic and it’s not even really their audience anymore. I’ve gone  through this where we’ve changed our audience a little bit so my email list has  got like a mix of people in it and not all of them are my ideal customer. So we’ve  had to weed people out and that impacts your lookalike audiences. So you don’t  want to be using poor quality lookalike audiences. It’s a good idea to freshen  those with your most up to date traffic, so your most up to date email list, people who have recently  engaged with your profile Because you can put up to a year, maybe you put the last 60 days, like that’s a  higher quality audience of people who have engaged with your Facebook or  Instagram profile or watched recent content or videos. I feel like accounts that  have been around for a long time and maybe you ran ads like a long time ago, you  stopped or whatever the situation is. You might have some old, stale data in there  that you’re creating local likes from and it’s just poor quality and you don’t want to  mix that into campaigns that you’re trying to get really quality leads.

So that’s  another thing is our team noticed these kinds of poor quality lookalike audiences and removed them and replaced them with fresher, higher quality ones and that made a really big difference in the cost as well. So that’s how we took the  cost per lead from $60 to $6 then doubled the client’s budget, we should add that in and make sure that’s clear too, because it’s not like we did that and it wasn’t stable,  it’s maintained. It’s about $6 to $10 now average from a $60 average cost per lead, this is recently,  like in the last month, this is a result so it’s absolutely possible. I’m  going to show you how to do this, how to implement this system in your business next week  in our live challenge, it is going to be epic. I promise that you’ll attract a thousand plus  ideal customers in those 5 days if you get that ad live, we’re getting the ad live on  day two and see how this is going to help you cut your cost per lead, your ad cost down a fraction of what they are now or what they maybe were in the past and you freaked  out and turn them off. 

 

So save your spot Hirshmarketing.com/challenge we kick it  off Monday. I am so excited and I’ll see you guys then.

 

Thanks for listening to the Not For Lazy Marketers Podcast. If you love this episode  and want deeper support with your marketing head over to helpmystrategy.com to  see how Hirsh Marketing can help take your marketing to the next level, no matter  where you’re at today. We help our clients scale faster than ever, find hidden leaks in  their funnelS, experiment with new creative marketing strategies and help their  business explode and be more profitable than they ever dreamed possible. Head to helpmystrategy.com and see if you qualify for a free strategy audit with team Hirsh

Like Us On Facebook

Facebook Pagelike Widget
Follow the NFLM Podcast on Spotify