Last week I wrote about the folly of running facebook ads blind, i.e. without any data.
That resulted in several people contacting me and asking me to look at their campaigns and funnels and give them some advice on how to improve them.
If what I saw was representative, then I can honestly say that 80% of the people attempting online marketing are making mistakes that are fatal to their business.
Here are some of the issues I found.
Trying To Get Cold Leads
I think this must be the biggest mistake I found, driving traffic directly to a landing page.
Whoever teaches this should be taken out and shot. It’s one of the most expensive ways of getting leads that you can use.
If you are driving people directly to a landing page them you are relying on your copy to convert them to leads and unless you are the world’s greatest undiscovered copywriter, then you are wasting money.
Do the math.
How much does it cost for each click?
What’s your conversion rate?
So for example, if you drive traffic to the landing page for 20c and 10% opt in, then you are paying $2 per lead. This is probably a bit on the generous side for cold traffic to a landing page.
What’s your actual figure?
Drive your traffic to a piece of content that educates them about the problem they have and offers a solution. Offer an enhanced solution via a content upgrade.
Let’s take the same math as before although traffic to content is usually cheaper as the relevancy factor for the ads is higher.
20c per click, the opt in rate is much higher. I have examples showing 70%+ but let’s be more realistic let’s take an opt in rate of 30% which is the minimum I would expect from a good article.
20c per click and a 30% opt in rate = 75c per lead.
You’ve just dramatically cut the cost of a lead.
Retargeting works, so I don’t understand why people consistently fail to set up retargeting campaigns. Retargeting isn’t just for sales but also for leads.
We all live busy lives, we start to read a post and intend to opt in for a report, but the phone rings and you forget about it. Maybe, you are looking at something while in a queue at the bank, just before you get the chance to opt in, you get to the front of the queue. Phone closed, article forgotten.
Your next buyer might be on the phone when they decide to buy. They might not want to buy via the phone so decide to come back later when they are on a desktop or laptop. They forget.
Retargeting gives us a chance to give potential subscribers or buyers a gentle reminder at the right time.
By having a retargeting campaign running you will get more subscribers and you will get more sales.
Create a retargeting campaign to target visitors who haven’t taken the desired action.
Your System is Too Complicated
I wholeheartedly advocate having a system in place.
I do not advocate making it so complicated that it takes a degree in quantum physics to understand your system.
To put it bluntly, if you aren’t making the sort of money you think you should then you should be able to fit your whole system on a post-it note. Simplify your system down to the basic fundamentals, then get those working. Afterwards you can add different levels of sophistication.
This week, two of the people I talked to used a system where they sent a potential subscriber directly to a landing page. From there the 10% of opt ins went straight to an offer. They then entered a complicated series of emails all designed to either sell the “tripwire” (I hate that term! Why would you want to trip a prospective customer up?) or an upgraded version.
Unsurprisingly, those offers weren’t converting. What they were doing was alienating subscribers.
Very few subscribers went on to be long term customers and they were relying on a lot of luck to generate sales.
Compare that to a recent campaign I ran where over a 7 day period I was able to make 52 sales to a list of over just 220. No luck involved, just proper marketing!
It’s time to forget Marketing 2.0. It’s time we move to Marketing 3.0 which is a lot more like Marketing 1.0.
Marketing 1.0 – People reading advertorials in newspapers, sending off a payment and receiving their purchase in the post.
It worked and was effective.
Marketing 2.0 – Sending people to a landing page or direct to a sales page, tripwires, upsells, down-sells and cross-sells. Then hammering them with offers until they unsubscribe or buy.
Really classy (irony!).
I am sure you’ve been through it. The system was effective for a while but people quickly get tired of being treated like a marketer’s personal piggy bank. It worked great when you could get qualified subscribers and leads for 10-20 cents, how’s it working now that you have to pay $2 or more a lead?
Marketing 3.0 Sending potential subscribers to relevant content, offering them something valuable in return for an opt in. Then spending time engaging and giving them value. Finally marketing a relevant product that will enable them to reach their goals quicker.
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