Iqen
New Contributor
- Joined
- Oct 28, 2011
- Messages
- 91
Rep Bank
$280
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User Power: 37%
Hi everyone,
I'm currently working as a freelancer and trying to take that next step up, detaching hours from value. To that end, this journal will be all about my pursuit of an online information product based business.
I will continue to update this thread as I move from testing for basic interest, to development of my core sales funnel via Facebook traffic, to media buys for scaling, and eventually direct mail and telemarketing for revenue maximization.
Starting Point
My niche is attention deficit hyperactive disorder, commonly referred to as ADHD.
I have a free offer that I give away to capture a list of names and emails. I then try to sell a low ticket newsletter subscription OR a $7 "tripwire product" (a small product that gets people to mentally trust you with their money, opening the door to bigger deals down the line).
The 2 paid offers are being split tested against each other on clickfunnels.com, where my sales funnel is located.
I'm also using improvely as a link tracker (good for helping track the performance of each traffic source).
Right now I'm using Ad Espresso as my Facebook ad management software to help me turn my campaign profitable.
Solving the Cost Per Lead Issue
Initially my numbers were VERY bad, before I discovered that Facebook ads fatigue after only two or three days. I didn't think running only one ad would be important early on if I were targeting an audience of hundreds of thousands of people.
But as it turns out, Facebook oCPM focuses on a tiny fraction of that population (the most algorithmically "likely" responders) and keeps repeating the same ads to them, drastically lowering the click through rate as frequency increases.
So having lots of ads going is vitally important to hold interest.
Since using Ad Espresso to do the heavy lifting of testing and refinement, the conversion numbers have been impressive. But the cost figures have not:
And if you thought a $36 CPM ($36 per 1,000 ad impressions) was high, you should see the $80 CPM on the campaign I created right after…
I'm still trying to solve the CPM problem right now. I want numbers that result in a cost per lead (CPA, or "cost per conversion" in the above image) of $1 or less.
I got off the phone with a guy at Facebook, and he said as you add more and more targeting options, the CPM cost goes up. So now I am in cost control mode instead of conversion rate maximization mode. I am trying to dilute my targeting while minimizing the lower response.
I'll keep you updated on my progress. Please feel free to join in and share your thoughts, experiences, questions, really anything
Iqen
I'm currently working as a freelancer and trying to take that next step up, detaching hours from value. To that end, this journal will be all about my pursuit of an online information product based business.
I will continue to update this thread as I move from testing for basic interest, to development of my core sales funnel via Facebook traffic, to media buys for scaling, and eventually direct mail and telemarketing for revenue maximization.
Starting Point
My niche is attention deficit hyperactive disorder, commonly referred to as ADHD.
I have a free offer that I give away to capture a list of names and emails. I then try to sell a low ticket newsletter subscription OR a $7 "tripwire product" (a small product that gets people to mentally trust you with their money, opening the door to bigger deals down the line).
The 2 paid offers are being split tested against each other on clickfunnels.com, where my sales funnel is located.
I'm also using improvely as a link tracker (good for helping track the performance of each traffic source).
Right now I'm using Ad Espresso as my Facebook ad management software to help me turn my campaign profitable.
Solving the Cost Per Lead Issue
Initially my numbers were VERY bad, before I discovered that Facebook ads fatigue after only two or three days. I didn't think running only one ad would be important early on if I were targeting an audience of hundreds of thousands of people.
But as it turns out, Facebook oCPM focuses on a tiny fraction of that population (the most algorithmically "likely" responders) and keeps repeating the same ads to them, drastically lowering the click through rate as frequency increases.
So having lots of ads going is vitally important to hold interest.
Since using Ad Espresso to do the heavy lifting of testing and refinement, the conversion numbers have been impressive. But the cost figures have not:
And if you thought a $36 CPM ($36 per 1,000 ad impressions) was high, you should see the $80 CPM on the campaign I created right after…
I'm still trying to solve the CPM problem right now. I want numbers that result in a cost per lead (CPA, or "cost per conversion" in the above image) of $1 or less.
I got off the phone with a guy at Facebook, and he said as you add more and more targeting options, the CPM cost goes up. So now I am in cost control mode instead of conversion rate maximization mode. I am trying to dilute my targeting while minimizing the lower response.
I'll keep you updated on my progress. Please feel free to join in and share your thoughts, experiences, questions, really anything
Iqen
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