The questions I get most often with business owners all stem around a lack of real knowledge of what Facebook ads or Instagram ads can do, how they can help, and if they are ready to try them yet. Most people have seen Facebook ads all over their newsfeed from marketers who are saying they spent $500 and made back $100k or some such crazy metric like that. How do you know what is realistic for you?
Is Your Business Ready for Facebook Ads?
I’m going to take some time to help you understand a few basics of preparing for advertising, what you can expect to invest, what you can expect to get for your investment, and how to tell if the marketing person you are talking with is on the up and up.
In the next few posts we’ll be covering:
- Installing the Facebook Pixel
- Creating free content, opt-ins, and landing pages
- How to make your organic posts more effective
- What you’ll need to spend in order to get some conversion rate data
- Understanding ROI and how to calculate it
- When to DIY and when to hire someone
- Finding a Facebook or Instagram Ad Consultant
Wow, that is a LOT! I’m in for some writing!
Define Your Offerings
In the meantime, take a look at your business and answer these questions. They will be really helpful as you move forward into advertising and growing your brand.
1. What is your ideal relationship with a customer? Do you want them to buy your course or join your membership? What do you want the majority of people to end up doing with you? This is called your CORE OFFER. It is where you will want most of your followers to end up working with you.
2. What is your highest level relationship with a customer? Do you have limited capacity 1:1 coaching or retreats that are only going to appeal to your most committed followers? This is called your PREMIUM OFFER. It is where you will spend the most of your time and energy and also charge the most money.
3. What do you offer for free on your website that will help to pre-qualify people for your network, educate about what you do, and add value to their lives with a very low/no commitment? This is called your FREE CONTENT or FREEBIE. Free content will be videos or blog posts, while a freebie or an opt-in will be something that they need to submit an email address in order to access.
4. What is a product you have or can create at a low price point that would give people more of what you offer without the commitment of your main product or service? This is called your INTRO OFFER or sometimes your Tripwire. It is a great way to offset ad spend or to help people take the next step of commitment on the road to your core offer.
Create a Value Ladder
Arrange these four into your FREEBIE, INTRO, CORE, and PREMIUM offerings. You have just created a Value Ladder for your business! A Value Ladder is the outline of a journey that you want to bring potential customers on with you, and it also helps you to weed out the people who would be a poor fit for your core and premium offerings.
Each step should fit together,
- Your FREEBIE should attract the type of people you want in your CORE offer.
- Your TRIPWIRE should directly relate to your FREEBIE, and also appeal to the type of people you want in your CORE offer.
- Your PREMIUM offer should appeal to the most committed of your CORE OFFER customers.
When you decide to start running Facebook ads, knowing what you can offer for free and then what you ideally want the majority of your followers to end up doing with you is absolutely key.
Let me know in the comments if you have questions about creating a Value Ladder and we can do some brainstorming!