Despite your KPIs, numbers, margins, dreams of success, product to market, prior marketing success, or the 1,000 blogs you’ve read, there are some PPC (Facebook™ marketing) mistakes that will destroy any hope for success.
Here are the top four:
Mistake #1) Companies Don't Understand the Metrics (KPIs) & Benchmarks they Need to Hit Along the Way to Their Big Glorious Goal.
- How much traffic do you need?
- At what percentage should this convert at?
- How many leads do you need?
- What’s your average close ratio?
- What’s your average AOV?
- What’s your LTV?
- What are your highest producing channels?
- Do you have the volume or margins to sustain an ads budget?
Just for starters…
It’s important to spend some time understanding your industry average rates and work backwards from there. Without real data or projections based on the real data, your business plan basically relies on creative luck.
While it's easy to research common soft-stats benchmarks like CPCs and CPMs, data about specific verticals or niches requires expertise in the given market.
It’s not the creativity of the agency that will cut it for you, it’s their business acumen, how well they can leverage the numbers for you. A “bad” ad campaign with good projections is better than a stunning series of ads shooting from the hip.
Mistake #2) Companies Don't Spend Nearly Enough on Testing and Collecting Data
If you want to do this properly, set $2K-$10K aside. We often tell companies they shouldn’t even think of beginning a successful PPC campaign without having sufficient funds to throw into the game—and being willing to run the engagement for a year or more.
So often small companies will try a PPC campaign for 30-90 days and either quit or quit an agency and go the DIY route, producing a questionable level of success.
Define, “successful campaign:” One that hits your goals, or perhaps doubles your revenue in a reasonable time frame, like a year, and one that acquires the market share you want.
Below this data-testing, sufficient investment amount, you're grasping at straws hoping your funnel works right out of the gate. If you’re going to lose sleep at night worrying about getting a positive return in a matter of days, better keep your postcard runners going.
Mistake #2 is like #1: Most business people considering FB don't run enough traffic to even hit the benchmarks in the first few steps of their funnel. Instead, they freak out and hit panic buttons after spending $500 and burn the whole thing down in flames!
You know all those blogs are reviews declaring, “Facebook™ doesn’t work?” Ask them how much they spent and better, how long they gave it. If it was a long time and a lot of money, it’s because #1 above was screwed up—the agency (or the DIYer) didn’t know how to run the data and benchmarks.
Mistake #3) They Don't Value Their Time
Instead of trying to keep themselves in their lane of genius, companies try to DYI everything themselves including their websites and copy when they are really bad at it.
I understand the concept of bootstrapping, I had to do it too—but don't underestimate the power of putting skilled people to fill in your weaknesses, you'll accelerate your growth 10X!
I don’t know how many times we’ve talked to companies new to PPC, with horrible freebie WordPress websites, horrible images, horrible copy and branding, a joke for SEO, free online logo generator, horrible UX and no conversion paths… and they want to double their revenue on some bargain FB marketing plan.
Continue on that path and you’ll guarantee yourself two things: 1) You’ll fail, 2) You’ll waist money trying.
Today, it’s absolutely impossible to run a stellar FB / Google / PPC campaign using DIY. Why? Because there is simply too much information for any one person to learn, know, and keep up with. Yes, you could bump a little ROI maybe, but you’ll never hit your stellar goals, ever, and with frequent algo changes, it keeps getting more and more complicated.
Mistake #4) They Have a Micro-Manager Mindset
Nestled between transitioning from DIY to full agency management, lies the "micro-manager" mindset."
The micro-manager will focus more on deliverables than on results. If you're hyper-focused on how many funnels, ads, ad sets, campaigns, creatives, audiences, etc., an agency is going to deliver, you are have a micro-manager mindset.
If you have most of your solutions—you've perhaps gone to a funnel building workshop or taken some Facebook™ marketing courses, you are a micro-manager.
The micro-manager is not looking for a real agency. They work their butts off to line up what they need to have done, just like a DYI bootstapper, and really are looking for a freelancer to do the work related to their strategy. They drive the work and the freelancer does the build-out.
A good agency will focus on results and do whatever is necessary over time to achieve them. If you hire an agency and already have your solution, you're going to butt heads with that agency guaranteed and you'll probably be up for a one or two month engagement because the agency will be doing things you think are incorrect.
Again, it's impossible for any one person to possess enough knowledge to build an effective series of digital campaigns. That's why the micro-manager / freelancer model most often does not produce results or the resultant KPIs are meager.
Be fluid in your thinking. The best attitude to bring into any new project is the mind that has the flexibility of youth with the reasoning powers of an adult. Meaning—be open to the idea that your baby is ugly and may need some tweaking!
This means we often do digital audits for companies and while trying to be “nice,” often return shocking information but with very hopeful projections.
Want to talk?