One Simple Test That Boosted My RevenueAs a high level six figure online business owner, you’re generating steady revenue and deliver products your audience is screaming for! Now is the time to really start digging into your numbers! Your business is sustaining itself enough so that you can ACTUALLY take the time and let your team run the show for a couple of days, right? This is actually one of my favorite things to do. I know, you’re probably rolling your eyes because it means wading through boring numbers, but think about this:
If you can make minor tweaks in your existing campaigns that ultimately drive profit, that’s real money!Here’s an example that will prove my point! I’ve been working on a Facebook Campaign for the past month. We’ve gone from a campaign that was losing money hand over fist to one that is now generating about $2 for every $1 we spend. And we’ll do that all day long. But it wouldn’t have worked without being able to really dig into the numbers!
The Scary Facebook Ad CampaignFacebook can be a scary place to spend your advertising dollars if you don’t have a way to specifically measure your results. To do that, you have to pay attention to every part of your funnel. Lot’s of people’s eye glaze over when they hear funnels. For the purpose of this example, I’m talking about the funnel for one specific product from lead gen to purchase. Understanding that your product funnel has multiple touch points, and that you MUST test each of those touch points is the key to being able to dial in your return and scale your advertising dollars. Our Facebook Campaign led to a Free Report. Our original numbers were:
- Good traffic – about 6% of the people seeing the ad clicked on it.
- Opt in rate was about 10%.
- But we had NO sales.
Traffic, Conversion and Profit.Every campaign has multiple conversion points. And each has to be tested in order. Start with #1, then #2 before you can analyze #3. Sounds logical, right? But one of the biggest mistakes people make with their advertising is they go straight to #3. PROFIT! They throw their hands up in the air and give up and declare YOU CAN’T MAKE MONEY ON FACEBOOK! Listen I’ve done it. I’ve spent about $2000 in Facebook advertising before I started working through the exact process I’m showing you below.
Test #1# 1 Traffic – My traffic was there. Maybe not great traffic numbers but we went with what we had. I was spending $5 a day on my ad initially to test the waters. I’ve since bumped it to $25. #2 Conversions – Initially my Landing Page was Converting at about 10%. Not great and I definitely wasn’t covering my advertising costs but we’ll get to that in a minute. #3 Profit – I was in the HOLE. No sales means no profit. This next part is important – Because I used redirects in all of the ads and on all of the landing pages, I was able to quickly test changes to my product funnel.
Test #2#1 Traffic – Didn’t change a thing. #2 Conversions – I made minor tweaks on my Landing Pages and tested one against the other using a redirect and split test. My conversions jumped immediately to 37%. OK I’ll take that. #3 Profit- A couple of sales but not the kind I was looking for. Do you see how I’ve worked through this?
- First we worked on #1 and got the traffic to click the ad.
- Then I worked on #2 to tweak the landing pages to get better optin conversions.
- Next, I work on #3 to fix the sales.
Test #3#1 Traffic – Didn’t change a thing #2 Conversions – Sending all traffic to the winning landing page. #3 Profit – I ran an email split test. It became abundantly clear that I had an email problem. I had 5 sales in 6 days from the winning email campaign. (Did I mention this is a $97 product?) It takes time to run these kinds of tests but you have to have the patience to look at your numbers and be willing to explore what WORKS and what DOESN’T WORK.
Ignore what you THINK works! Data provides the real answers.The point of this exercise is to show how small changes to the process can make a huge impact on your bottom line. AND I did this test without spending a TON of money. So, you want to know my overall results of this campaign so far? I have run this specific test over the past month. I’ve spent $1067.55 as of today. I’ve had $2037 in sales and added 480 new leads to my list. More numbers show us this is REALLY promising.
- Lead cost = $2.22
- Lead value = $4.24