Is my FB/IG ad campaign performing well?
I've put $100 into a FB/IG campaign for a few reasons:
- to see how it all works
- to test a hypothesis I have about our content and what speaks most to potential customers.
- to assist with validating the idea
Here are the results so far:
https://docs.google.com/spreadsheets/d/1sp792-2bBjYQ-IfbhYLz1L_XYeZKQn4NSO-4oKCoXfw/edit?usp=sharing
Spent about $50 so far.
Key highlights:
- 2990 unique users viewed and 3710 impressions
- 62 clicks through landing page (2% of uniq., 1.67% of impressions)
- 8 signups to just a mailing list (12% of people clicking through)
My question is simply:
Is my FB/IG ad campaign performing? Bad? OK? Good? Great?
I don't really have any sense of what a good campaign would look like.
#ask-ih
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To judge your performance you need to compare:
Is $5 to get an email signup good or bad?
Well, if after the signup you have an email funnel in place that converts at 20% this means that your CPA is $25.
Now, if your customer lifetime value is $30, that is bad.
But if it’s $90, that is very good!
So the answer is: it depends!
Forgive me, but I'm not sure I follow the math... How did you arrive at that?
Interior mood boards (IMB) - the product - is a standalone product that my wife and I came up with to act as a funnel into her actual freelance services business. So, there's potentially two pay days for each of these customers - converting them to buy from IMB and as a freelance gig. Unfortunately, we don't have enough data points to know what the CLV is yet.
Thanks for the info though - will keep this in mind as we get further down the road.
You acquire 5 email signups at $5 each. You spent $25.
If your email funnel converts at a 20% rate, it means that only 1 out of those 5 email signups will buy.
So to make a sale you have to spend $25 on ads to acquire 5 email signups.
Roger, understood. Thanks @andreabosoni
You need to map the overall conversion funnel and the life time value you expect and then look at the total AD spent to measure the ROI. I looked at your excel file, and I feel you are taking a solid analytical approach to measure the performance of the A/B tests. Keep going!
Thanks! It's hard to know the rest of the funnel at this stage. Will have to go back and look at these customers later down the line.
I think the best answer is: the FB algorithm needs more time to be able to figure out the person that clicks on your ad.
That being said, when it does figure out who that person is, it gets cheaper over time.
Right now I run about $20/day in FB ads, and I get $0.48 clicks to my content marketing posts. That's after 1000+ clicks, though. I get about 40 clicks per day.
Some of that depends on how hard your sell is. My interaction is pretty light-weight. I'm just asking them to look at a blog post. If you're trying to direct-sell, people will be less likely to click on it.
Do you convert any of those clicks into revenue?
Now that I have traffic flowing that's what I need to figure out.
I have to put in landing pages to act as flags for my funnel to know where people fall out of the funnel.
I'd say that $50 for 8 email signups is OK but could be better. Do you mind sharing the url of your landing page and how your ad looks like?
Sure.
Landing page is here: www.interiormoodboards.com
The best performing ad:
https://imgur.com/a/ynTQciX
Patrick, I think you can tweak your copy more. Right now it sounds too generic.
"There's a lot to think when putting a room together." Like what? Can you paint a more painful picture in their minds?
You can invoke some imaginary discussion between guests:
"His room is so dark", "That pink pillow makes no sense", "This place doesn't feel right!"
Anyone picturing its guests saying that would immediately find value in your work.
And, signing up for "mood boards delivered every week" seems like a big commitment for someone who just found you.
What's a low-threshold offer you can come with? Maybe:
"Check this week's hand-crafted mood board selection."
With an offer to subscribe at the end of that page.
You might want to revise your homepage copy too; "make your house a home" Why do you think it's not already a home? Can you make a checklist for me? By the end of that, I might realize that I really need help!
hey @vlatoshi that's all great feedback. I agree a lot of the copy is very generic. Safe to say this is not my forte!
I'll revisit things a bit and see how we can tighten it up. I like your idea of a lower threshold offer.