[The Good Life]

(03-23-2018 12:33 AM)testos111 Wrote:  

(03-22-2018 07:04 PM)The Good Life Wrote:  

If one wants to generate leads for an insurance business, assuming your targeting is solid and the ad set is solid, what is the daily minimum budget?

Would it be possible to generate a 3 leads a day at 5 dollars a day, or is this just too low of a budget? If so, how much?

Of course its possible. In fact that's aiming a bit low for lead generation. 5 dollars a day is good for split testing ads but if you have a winning ad, 20 a day should really be the minimum because your daily budget also has an impact on how many impressions you get initially ( it depends on your bid amount plus your daily budget with the former the more important of the two).

But ultimately the question of daily budget is not really an ad related question. It's a business related question and only you can determine the real answer by determining what the leads are worth to you.

I was on another forum talking to some people who claimed to be "experts" and they said that with insurance lead generation the market is so saturated that you are better off not wasting the time and initial money testing your ads and to just buy leads. They were giving me extremely high budgets (around $100 a day minimum) and said that the competition is soo insanely fierce that it's not even worth it. Part of me calls bullshit, but I guess it kind of makes sense.

Also, if one does decide to generate leads through Facebook ads for insurance, do you recommend optimizing for conversions sending them to a landing page to take a specific action, or do you recommend using facebooks built-in lead form?

[testos111]

(03-23-2018 10:58 AM)The Good Life Wrote:  

(03-23-2018 12:33 AM)testos111 Wrote:  

(03-22-2018 07:04 PM)The Good Life Wrote:  

If one wants to generate leads for an insurance business, assuming your targeting is solid and the ad set is solid, what is the daily minimum budget?

Would it be possible to generate a 3 leads a day at 5 dollars a day, or is this just too low of a budget? If so, how much?

Of course its possible. In fact that's aiming a bit low for lead generation. 5 dollars a day is good for split testing ads but if you have a winning ad, 20 a day should really be the minimum because your daily budget also has an impact on how many impressions you get initially ( it depends on your bid amount plus your daily budget with the former the more important of the two).

But ultimately the question of daily budget is not really an ad related question. It's a business related question and only you can determine the real answer by determining what the leads are worth to you.

I was on another forum talking to some people who claimed to be "experts" and they said that with insurance lead generation the market is so saturated that you are better off not wasting the time and initial money testing your ads and to just buy leads. They were giving me extremely high budgets (around $100 a day minimum) and said that the competition is soo insanely fierce that it's not even worth it. Part of me calls bullshit, but I guess it kind of makes sense.

Also, if one does decide to generate leads through Facebook ads for insurance, do you recommend optimizing for conversions sending them to a landing page to take a specific action, or do you recommend using facebooks built-in lead form?

They are right about the competition. Real estate people face a similar problem. You can experiment with lead ads since it shortens the conversion funnel so it can save you on the cost part. But there are a lot of other problems with lead ads like integrating it seamlessly with your e-mail service, creating a compelling copy, etc. So you may get more leads but the conversions (sales) can be low too. But $100 a day definitely seems a lot even for a winning ad because the ultimate value of an ad is only judged by the end goal it serves. And most of that takes place away from the ad and down in a well established funnel. A Facebook ad is just an element at the top of your funnel.

Also I'm not sure how effective it will be because Facebook works better for "non-serious" businesses. Stuff like real estate, insurance and finance is not something that works too well there in my opinion. For quantity maybe but quality wise, the leads may not be worth all the cost.

But if your job is to just generate leads, then lead ads + winning ad copy (high CTR and low CPC) +$100 a day can work.

You can also give the GDN (google display network) a shot. You can create image ads which are similar to FB ads but you can choose what kind of websites they would be shown to. So if you select INsurance as the category, it'll show your lead gen ads to blogs/websites that deal with that topic. And unlike Google Adwords Search based ads, they are very cheap. But I don't have much experience with them. The couple of $100 I put in those did not work for my niche.

[Aviel]

I ran a 5 dollar a day ad for a product and these were the metrics after 48 hours:
Impressions - 954
Reach - 892
CPM - $13.72
CTR (All) - 2.41%
CTR (Link Click Through) - 1.68%
Link Clicks - 16
CPC (Cost Per Link Click) - 0.82
Add to Cart - 0
Purchases - 0

WTF! should I continue or kill this ad? I have the price of the product on the ad already

[testos111]

(04-29-2018 08:36 PM)Aviel Wrote:  

I ran a 5 dollar a day ad for a product and these were the metrics after 48 hours:
Impressions - 954
Reach - 892
CPM - $13.72
CTR (All) - 2.41%
CTR (Link Click Through) - 1.68%
Link Clicks - 16
CPC (Cost Per Link Click) - 0.82
Add to Cart - 0
Purchases - 0

WTF! should I continue or kill this ad? I have the price of the product on the ad already

Your ad looks fine. This is a typical example where the advertiser needs to work on improving the landing page. pm your lp link and i can give you a few tips.

[Aviel]

Thx, I sent you a PM

[TravellingSoldier]

(03-09-2018 10:54 PM)godfather dust Wrote:  

I'm a music producer, rapper singer working with several artists. If I want to promote various projects, what is the most efficient way time and cash wise?

I think it's a waste of money spending on FB ads promoting musicians. Instagram is a way better platform for promoting artists and building a "community" I've spent a lot of money on ads and have seen almost no conversion to page likes, followers, listeners etc.

I personally do music on the side and have ~11k followers on Instagram, I use Instazood to automate activity. Outside of automation the tried and true way to build a fanbase is through collaboration - so paying for songs with bigger artists, paying local influencers to share their music etc. Influencer marketing can be a lot cheaper than you think too (maybe $20-100 to post on someone's acct).

Ex: A rapper from Toronto called Nav, now signed to the Weeknds XO record "got" Kylie Jenner to post a video of her bobbing her head to one of his first songs. He's signed now, first show was the Air Canada Center and he's a pretty big artist. I don't believe he did much marketing outside of getting Kylie and some other influencers to share his stuff. This is an extreme example, but paying for just one person with influence in the local area (a lot cheaper than Kylie) can be a huge impact.

[d_hzy]

Just started facebook ads, using it for my shopify stores.

What are some of the good resources to learn more about facebook ads?
podcast, books, websites?

Thanks

[HustleNomad]

(08-03-2018 03:13 PM)d_hzy Wrote:  

Just started facebook ads, using it for my shopify stores.

What are some of the good resources to learn more about facebook ads?
podcast, books, websites?

Thanks

Join the Facebook Ad Buyers group on Facebook and start reading/searching. Momentum Marketing Tribe is another good one, both free.

IMO that's the highest level information you'll get without paying 10k+ for masterminds, and even then it's pretty similar they've just organised it better.

If you are looking for something specific, make sure you search the groups before posting. You'll get ripped apart if they see you haven't done due diligence.

--

Guys I realise this conversation happened a few months ago, but a few things if you do happen to see this:

(03-22-2018 07:04 PM)The Good Life Wrote:  

If one wants to generate leads for an insurance business, assuming your targeting is solid and the ad set is solid, what is the daily minimum budget?

Would it be possible to generate a 3 leads a day at 5 dollars a day, or is this just too low of a budget? If so, how much?

For insurance, almost certainly not. Lead gen payouts for insurance can go from anywhere from $20 up into the low hundreds, with advertisers generally taking a 20-60% profit. There is huge competition because it's such a lucrative market.

To get any sort of meaningful data on lead gen or purchases you need to be running total budgets of at least 3-5x your target CPA per day - obviously the more the better. If you can afford to do a budget per angle of 3-5x CPA then even better, you test each angle/headline properly.

(03-23-2018 10:58 AM)The Good Life Wrote:  

I was on another forum talking to some people who claimed to be "experts" and they said that with insurance lead generation the market is so saturated that you are better off not wasting the time and initial money testing your ads and to just buy leads. They were giving me extremely high budgets (around $100 a day minimum) and said that the competition is soo insanely fierce that it's not even worth it. Part of me calls bullshit, but I guess it kind of makes sense.

Also, if one does decide to generate leads through Facebook ads for insurance, do you recommend optimizing for conversions sending them to a landing page to take a specific action, or do you recommend using facebooks built-in lead form?

These people from that forum do in fact know what they are talking about. $100/day is on the absolute low end.

Re: optimizing for conversions, the best approach is generally to run ads to a prelander before capturing the data or redirecting them to your broker. Pixel the thank you page so Facebook can do its magic, then start to build custom audiences based off of that data.

In order for Facebook algorithm to optimise for you correctly, you need to be sending in excess of 50 conversions per week (the more the better obviously). As they dial it in you will often find your cost per acquisition starts to drop.

(03-24-2018 11:38 AM)testos111 Wrote:  

Also I'm not sure how effective it will be because Facebook works better for "non-serious" businesses. Stuff like real estate, insurance and finance is not something that works too well there in my opinion. For quantity maybe but quality wise, the leads may not be worth all the cost.

Disagree - I personally know people who have run at significant scale ($10k up to $50k/day profit) on Facebook in insurance, financial, funerals, solar. It converts extremely well if the prelanders are crafted carefully and it's a good offer.

(03-24-2018 11:38 AM)testos111 Wrote:  

You can also give the GDN (google display network) a shot. You can create image ads which are similar to FB ads but you can choose what kind of websites they would be shown to. So if you select INsurance as the category, it'll show your lead gen ads to blogs/websites that deal with that topic. And unlike Google Adwords Search based ads, they are very cheap. But I don't have much experience with them. The couple of $100 I put in those did not work for my niche.

It's not a matter of cheap or expensive. Search can be incredibly targeted and extremely high quality - in Australia some insurance keywords are worth $100+ per click. This is a free market: advertisers would not pay that much if it was not backing out. GDN is a completely different beast - yes per impression and per click it's on the whole a lot cheaper, but it's also different on such a fundamental level that the traffic performs very differently.


Common error to be looking for cheap traffic, or cheap niches, cheap whatever. Bids are high for a reason. If it's expensive, it's because a bunch of people are making bank.
Figure out how you can get into the middle of it and get an advantage over them and you'll share in it too.

[nicepantsbruh]

Hey thanks for your advice! I do appreciate it. I'm also running ads, too and my product is t-shirt. Could you give me some ideas about other products or niche? Since you're right when you say that t-shirt has low margin and you need to test out for the well-performing ads to scale otherwise you make little money. Thanks!

[HustleNomad]

(08-04-2018 12:32 AM)nicepantsbruh Wrote:  

Hey thanks for your advice! I do appreciate it. I'm also running ads, too and my product is t-shirt. Could you give me some ideas about other products or niche? Since you're right when you say that t-shirt has low margin and you need to test out for the well-performing ads to scale otherwise you make little money. Thanks!

If you are inexperienced with advertising and marketing in general, I suggest getting involved with some paid affiliate marketing forums and going from there. Learn to promote already proven products before you work on your own.

Shirts worked really well 5-6 years ago when you could still get organic facebook reach and before Teespring etc got popular (too many people jumped on the train).

[Aviel]

How to start selling with FB ads when my new business page has 0 likes and followers? Should i first run engagement ads then conversion or just start with conversion?

[nicepantsbruh]

(08-09-2018 09:10 PM)Aviel Wrote:  

How to start selling with FB ads when my new business page has 0 likes and followers? Should i first run engagement ads then conversion or just start with conversion?

I think you should jump right into the ads, just test $5 and see what happens, your CPM will be really high, though.

[Kdog]

(08-09-2018 09:10 PM)Aviel Wrote:  

How to start selling with FB ads when my new business page has 0 likes and followers? Should i first run engagement ads then conversion or just start with conversion?

Buy some likes and or followers for your page. Not too much (200-300, though it depends what you are selling). It helps with some social proof for sure. You can even buy 5-10k likes though I would not advise that as the engagement will look weird (10k likes on the page but all your posts have no comments/ likes). Just spend $10 and get a few hundred and go from there.

[Aviel]

Thanks guys! I thought followers can be bought for instagram only but I guess I’ll do it for FB too.

[testos111]

As I've mentioned before in this thread a couple of times, likes do play a very important part because when it comes to boosting posts which are targeted to the people who like your page, there isn't a more cost effective method than that so you definitely need likes. My boosted posts result in at least 10 conversions every week for which I pay as less as 30 paise per click (less than a cent)

But the wrong strategy is run advertisements to increase likes since it in itself doesn't yield any ROI.

The correct way is to run direct response ads (like traffic and conversion ads) for something that you are selling. Whenever you run an ad, you HAVE to have a chance of making the money back otherwise there's little point, especially as a solopreneur/digital entrepreneur or a small business. And then when you run these ads, what you'll find is that they result in an increase in the likes to your page too since a lot of people who see these ads click on your page name and end up liking it.
So these ads end up serving both the purpose - making sales (primary one) and getting likes (secondary one as a bonus).

Just offered consultation to a office sharing company last week and they made this exact mistake. Spent more than Rs.150000 ( $2000) in running ads for likes. They definitely got the likes but it served no point since their organic reach was less than 1%.

As I've mentioned before, Zuckerberg killed all organic reach in the first week of April. Previously you could hope to get around 5-10%.Now even that much is a rare event. I have a page with 30k likes now and when I post something, it usually reaches 200-250 people unless I boost it.

So if you're gonna be spending money either way to reach your audience, might as well do it with the chance of making back a buck.

Also, from June 30th, I began testing the strategy of selling my ebooks at a crazily low cost in the guise of a limited time offer. It's been working really well for me in this month and a half and I'm consistently making around 25 sales a day with a decent margin. I'll report back once I feel I've given it more time.

I'm also coming up with a photography video course that I will be launching in October where I'll be taking a similar approach. That will be prices slightly higher but if that works for me, the passive income dream will be a whole lot closer. Will keep you guys updated and present any significant learnings here.

[Aviel]

Thanks for the insight man!

[Aviel]

Hi so I ran 4 ads for one product $5 dollars each, everything was kept the same except the interests and in less than 24 hours:

Ad1:-
Reach: 168
CPM: $21.6
CTR (All): 0.58%
CTR(Link Click Through Rate): 0.58%
Link Clicks: 1
CPC: $3.72
Website purchase: 0

Ad 2:-
Reach: 208
CPM: $15.82
CTR (All): 1.88%
CTR(Link Click Through Rate): 0.47%
Link Clicks: 1
CPC: $3.37
Website purchase: 0

Ad 3:-
Reach: 171
CPM: $22.32
CTR (All): 6.08%
CTR(Link Click Through Rate): 2.21%
Link Clicks: 4
CPC: $1.01
Website purchase: 0

Ad 4:-
Reach: 186
CPM: $17.54
CTR (All): 1.01%
CTR(Link Click Through Rate): 1.01%
Link Clicks: 2
CPC: $1.75
Website purchase: 0

shud I wait or what?

[captain_shane]

Are facebook ads dead now that you can't target behaviors anymore?

[Aviel]

This is so complicated, I'm getting post reactions, link clicks and post shares but no one is buying!! My website looks awesome too, so I don't get it.

[testos111]

(08-15-2018 10:40 AM)Aviel Wrote:  

This is so complicated, I'm getting post reactions, link clicks and post shares but no one is buying!! My website looks awesome too, so I don't get it.

A reach of 200 odd is not going to do anything...You need to spend way more..the $5 that you've spent has told you ad number 3 is the winner..now that's the ad you've got to split test on by changing the different parameters like the targeting and copy and landing page...you're getting a good CTR on it so I think your targeting is fine...put some more money into it and see the results and tweak things from there

[testos111]

(08-14-2018 04:22 PM)captain_shane Wrote:  

Are facebook ads dead now that you can't target behaviors anymore?

not in my opinion..in 6 years or so of advertising, I've actually never used behavioral targeting because the data, at least in India, was so less that it used to narrow my potential audience considerably..US would have had a more elaborate and accurate data but all the big Facebook marketers I follow (Jon Loomer, Frank Kern etc) haven't complained about it so I'm guessing it's not a big deal.

[Aviel]

Thank you man I appreciate it. When selling T-Shirts, what should be the ideal potential reach size? 10K, 500K, 1mil, 2mil?

I just ran an ad and in like 8 hours I got 2 link clicks out of 58 reach BUT I just noticed that the potential reach is only 8300. It was because I chose "Create Multiple New Ad Sets" and it doesn't show the potential reach of each ad, or maybe I don't know where to see it.

[Aviel]

I THINK I FOUND A WINNER BOYS!!! Ran an ad on that same product and after 105 reach in like less than 8 hours I made my first sale!!!!!!!! First ever fuckin shopify sale.

Feels better than pussy

[Aviel]

Is it too early to decide which ad to kill?

[testos111]

(08-23-2018 09:54 AM)Aviel Wrote:  

Is it too early to decide which ad to kill?

Kill number 4...keep the rest as of now...the first ad has a better overall CTR than the 3rd ad so if it makes a sale in the future, it may prove to be better than the rest...similarly ad number 2 has a higher reach than other ads despite a lesser ad spend..so that can prove to be good too...but we can only guess...keep them running till a reach of 1000 i would say..then take a call... i know that feeling of the first sale ...mine came in 2012 after a desperate waiting period of around 6 months..but mine was via SEO..but still nothing beats the dopamine rush of that first sale...good luck!