HSH 028 Running the Ads for a $60,000 Launch – Show Notes
In this episode, we’re talking all about the Facebook ads we used in our recent launch, including the strategy, budget, targeting and more!
Our total Facebook ad spend was $5,689.84 for this challenge, which returned about $40,000 in sales. The total revenue of the launch was $56,974, which gave us an ROI of about 10X of our spend.
$31,000 is cash in hand, while $24,000 have payments pending ($10,500 from beta testers are paid in full).
Budgeting was key for this launch. If you want to make $10,000 on your launch, and your product is $10,000 for example, you’d need to sell 10 products. Now test this against your conversion rate (ours was 2.5% for this launch), which means you need 400 people in the launch.
Our estimated lead cost was about $3 per person. You don’t need to get leads cheaper than everyone else; you just need to get them at a reasonable cost.
($400 leads X $3 = $1,200 on ads to make $10,000 in sales)
Preparation was another big component of our success. We mapped out every ad that we wanted to run for the promotion before we even started, and created two sets of copy and two sets of images for every single ad. This allowed us to be a few days ahead of schedule.
Having systems in place, even if it is just you at the moment working in your business, will be an asset for when you scale up to a larger team.
By targeting, and conducting a lot of split testing, we were able to improve our results. Too many people don’t do enough testing of their ads. We ran ads to hot targets (existing clients), warm audiences (on our email list, visited our site or liked our Facebook page) and cold audiences as well (people not connected to us in any way).
In the end, testing will lower your lead cost, but it does cost a bit more money upfront. By running ads to hot and warm audiences first, you can fill your spots with the people most likely to buy, while testing to cold contacts.
Our strategy was to do the launch in multiple phases; starting with hiring a social media manager 5 or 6 weeks out. Our “pre pre launch” consisted of running traffic to our website, which contained case studies, to get people interested in challenges. This created a warm audience, and we invited our wait list to the program as well.
Our launch content’s core focus was to get people to sign up for the webinars, and the result was 1,580 signed up from the Facebook ads.
We went into a heavy retargeting phase, advertising to webinar registrants the morning of the even with a simple video. People who weren’t on the webinar were drove to a replay page, and people on the webinar that didn’t buy were directed to the sales page.
We also ran a testimonial-retargeting ad and used blog posts as an advertisement to get around specific objections. Two other retargeting ads focusing on doors are opening, and doors are closing, were also used.
It’s important to note that we have never lost money with retargeting ads – do them! Remember, you need to try new things as well as spend some money to make money in your business. Don’t let fear hold you back, and know that Facebook ads can be fun!