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In episode #564, Eric and Neil discuss ways you can scale your ads without decreasing your ROI. Tune in to hear simple ways you can increase your conversion rate and make more money.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: How to Make Your Ads Scale Without Decreasing Your ROI
- [00:40] Make sure that you’re running your ads to one post ID on Facebook.
- [01:08] Leverage more than one channel.
- [01:38] When you run all the paid channels at one time, your ROI goes through the roof because people are seeing you everywhere.
- [02:05] Look at your funnel through a full funnel attribution standpoint. Use Wicked Reports.
- [02:49] Run a ton of A/B tests.
- [03:19] If you run A/B tests, you can start generating more sales.
- [03:28] Have upsells and downsells.
- [03:50] Continually try to offer clients more services.
- [04:12] Eric helped a client with strategy, but also upsold him and added more value.
- [04:51] Neil loves ClickFunnels to help scale up ads.
- [05:35] Russell Brunson talks about three highest converting funnels: free offer, webinar funnel, high-ticket funnel.
- [06:05] Neil used the webinar funnel.
- [06:18] You’ve got to know your numbers.
- [06:33] That’s all for today!
- [06:35] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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The post How to Make Your Ads Scale without Decreasing Your ROI | Ep. #564 appeared first on Marketing School Podcast.
Full Transcript of The Episode
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu.
Neil Patel: And I'm Neil Patel.
Eric Siu: And today we're going to talk about how to make your ads scale without decreasing your ROI. So first and foremost, here's how you make your ads scale. The thing I talked about in the past and last couple of episodes, make sure that, at least on Facebook, you're running your ads to one post ID. You're not splitting up the social shares, it's not just 20 different ads with one or two shares each, your combining it and there's 40, 50, a 100, thousands of shares. That way you're going to be able to increase your CPC, you're going to be able to get higher engagement, that's going to show more when you have higher engagement, and that's going to help you get additional clicks, and again, better ROI.
Neil Patel: Yeah. Another strategy that I love using when it comes to scaling up your ads. You have to end up leveraging more than one channel. Everyone's like, "Oh, I'm going to scale up Google AdWords to 10X," and they just focus on that, and they're a one trick paid advertising pony. You got to do Google AdWords, you got to end up doing Facebook ads, Pinterest ads, Reddit ads. You got to trial all of them. That's a real way to scale.
I learned this from the hospitality industry. One of the publicly traded companies owns dozens of sites, and what they found is when you end up running all the paid channels at the same time your cost sometimes goes down, but more importantly your ROI, your conversion rate goes through the roof because people are seeing you everywhere. It's the rule of seven with marketing. And it's easier to scale by adding in new marketing channels than it is to keep just spending more and more on one specific channel, because what you'll find is there's diminishing returns, and eventually you'll cap out and there won't be more audience to buy from.
Eric Siu: Yeah. The other thing is you have to make sure, when you ... Let's say you're running AdWords or Facebook, and I assume most of you are, because they are the biggest platforms out there, but looking at your funnel from a full funnel attribution standpoint, so it's not just looking at the stats that you have in Facebook ads, or AdWords, or whatever other tools you're using, but if you can use a tool like Wicked Reports where it shows you, "Hey, maybe in month one or month two your campaign looses money, but in month six your campaign makes a 10X ROI, you're going to do that all day, right?" The problem is most people aren't doing that right now, and I'm actually guilty of this, we're trying to figure that out for our Single Grain right now to actually have that kind of full funnel attribution, but if you're able to do that you're going to help your ads scale because you're going to focus on running the things that are profitable in the long term.
Neil Patel: You also need to be running a ton of AB tests. Your ads are going to get more and more expensive. Facebook's seem to keep going up, Google's going to keep going up. There's going to be more competition. You're going to be like, "My ROI's going down. It's going to go lower and lower. I'm struggling to scale it up because brands like Coca Cola are coming in and they're just spending a billion dollars." You know what? If you continually run AB tests using tools like Crazy Egg, or Optimizely, or WDR, whatever you want, you can start generating more sales from the same amount of traffic that you already have. That way, as Google AdWords costs go up at least you can keep bidding. In addition to that, you should be having your up-sales and down-sales, because when you have your up-sales and down-sales you're allowed to spend more money on the front end because you know you can make double or triple on the backend by adding in all the up-sales and down-sales. A good example of this is Eric and his agency. Someone signs on as a client after your ... What do you do, Eric?
Eric Siu: Up-sell them.
Neil Patel: Yeah, and he's not just trying to renew them, he's trying to continually up-sell them and offer more services. What's a great way that you're doing this for a service based business right now?
Eric Siu: Yeah. So let's look at ... Let's say someone signs with us for paid advertising, right? We're just talking to a client that's been with us for two years and they just started talking about SEO. They want to compete with the big stock photos of the world. Had a quick call with them and then we started talking strategy, and guess what? We helped them with strategy, but we started talking about, "Okay. Here's how me might help in the future with link building from a technical standpoint." What happened was he did sign a contract right then and there. A conversation actually became a link building contract for the long-term. But it's just constantly helping, constantly figuring out how you can go about adding more value.
Neil Patel: Yeah. And the thing you'll end up finding from advertising is there's always ways to end up making it work. People are always afraid that, "Oh, Google's going to be more expensive next year than today. You just got to get creative." People could have said that seven, eight years ago, was, "Well, yeah. Google's still in business and they're worth over $700 billion now." I love a product called QuickFunnels by Russell Brunson because he teaches you all about funnels, and by adding a funnel into your business you can generate way more money, and it's one of the simplest ways to help scale up your ads, because when people try to scale they always think about, "Okay, how can I tweak my ad campaign? How can I do tricks and that way Google doesn't know what I'm doing, and it costs them, the clicks are cheaper." Those are all short-term things. Modifying your business, optimizing conversation rates, having full attribution tracking, doing things like creating a funnel, those are the long-term solutions that allow you to scale in the long run.
Eric Siu: Yeah, and the final thing related to Russell Brunson, though. He does have a video on the Genius Network, so this is Joe Polish's YouTube channel. Russell talks about the three highest converting funnels, this is, I think, 92%, or maybe even 98%, of all the funnels and click funnels that work the best. You have your free plus shipping kind of offer in the front end, so these are your front end funnels. He might have a book that he gives away for free, or these MP3 sticks we talked about in the past that we're still trying to do. Number two is the webinar funnels, and Neil actually has a webinar funnel as well, and the third one is the high ticket funnel. Neil, how does your webinar funnel ... or how did it work?
Neil Patel: Yeah, I don't have it anymore, but if I drove a 100 signups to the webinar 3.6 would end up buying, 20% max would end up refunding. Each person would end up spending roughly a $1,000 just on the [inaudible 00:06:14].
Eric Siu: Yup, so that's ... Once you can make the number ... I think what we're trying to establish here is you got to know your numbers, you got to look at your numbers like a hawk, that way you're going to be able to grow. Because if you're just treating marketing as this, "Ah, you know, I got this gut feeling this is going to work, Eric." It's not going to work for you.
Neil Patel: "I like that gut feeling."
Eric Siu: Yeah. Doesn't work.
Neil Patel: Never does.
Eric Siu: Yup. Before we go, go to singlegrain.com/giveaway to get our marketing goodies, and we'll see you tomorrow.
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