When I heard that the cost of Facebook Ads had gone up 171% in 2017, I knew that I had to do something to help out my fellow entrepreneurs.
Here’s what’s happening… in a nutshell:
- There’s a war over cold traffic (people who have never seen or heard of your brand). Big brands are spending a lot of money on broad targeting to build their audiences so that they can remarket to those audiences at a lower cost, including using Facebook Ads (more on that later).
- Inexperienced advertisers are improperly targeting Facebook ads and guessing which audiences are most likely to convert (i.e. to get them to purchase their offers). There is a much more effective way of doing this.
- People aren’t using the proper tools and ad objectives to properly optimize their Facebook ads. That leads to ads that are trying to accomplish too many goals at one time. Like, trying to increase their audience (Facebook page likes), getting people to engage, and getting people to purchase all at the same time. WHEW… that’s a lot for one ad to accomplish. This used to be possible (like 5+ years ago), but now the game has changed entirely.