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If you've made it this far into the Live Funnel video and blog post series, let me be the first to offer my gratitude! You have been such an amazing supporter and I do hope that you have gained a lot of useful information out of each and every one of my tutorials. We have discussed how to create your own funnel using ClickFunnels and optimize it for maximum profitability, setting up your up sells and down sells and finding the best products to go along with your front end offer and loads more.
If, however, you have just landed here out of curiosity or other reasons, then I wish to welcome you to the WagePirate family! Here, you will get to learn everything you need to know about how to start your own dropshipping business and running it successfully and without the hassle.
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So, today, we are going to discuss Facebook Ads, and I will be using one of my Facebook ad accounts as an example to let you in on what is currently happening with my business -- and if you aren't advertising on Facebook yet, you'll also get a closer look at how the platform works!
Facebook Ads -- A Closer Look
Here is a screenshot of one of my bad days in business, when there weren't too many customers who would click on my Facebook ads to actually check out what I am offering on my website.
As you can see, we have fallen under my 2.30 ROAS goal (then-currently at 2.08), and what this basically means is that we are losing way more money than what we are making. Of course, there is no other way to go around this problem than to adjust my ad budget -- but I am not going to sacrifice my budget for the better performing ads just to keep the other ones active. Instead, I am going to temporarily turn off the ones that are not being as profitable as expected, and hopefully increase my ROAS by letting the good ad sets just run without launching any bad ones.
One thing to take note, however, is that we would want to be constantly launching ads to increase our chances of getting noticed and eventually known by (ideally) every one of our target audiences, but if our ROAS is falling, it's best to not just launch any bad ones at all for a couple of days, especially during the beginning of the week. I find that there are not too many people who would want to spend money just when a fresh new week has started (this is, in fact, a belief in a few select countries, wherein it is said to be bad luck to burn away some cash at the start of a new week).
If you're looking for some tips on how to filter your good ad sets from the bad ones, I usually look at the cost per outbound click and the CTRs (click through rate).
"Outbound clicks provide a measure of the amount of traffic your ads help send to your website or app. They are different than link clicks, which specifically count clicks on links in the displayed ad that include both external destinations and certain Facebook experiences."
Here I turned off an ad that had a relatively high cost per outbound click and poor click through rate. No worries on that, though, as we can always turn that on again once the product gains enough traction in the market and start selling.
I also tend to check on whether an ad has successfully enticed a customer into adding a specific product into their cart. Even if they did not buy it immediately, there is still a good chance that they might come around and finally decide to purchase that product in the near future. The customers' carts will not likely be refreshed and cleared even if they close their tabs and leave our website (especially if they have set up their own accounts), so they will always serve as a reminder that they once took interest in a product and might even act as an igniter for a successful purchase.
In that case, even if that specific ad is not performing quite as expected, I still let it run for a few more days and let them enter the observation period. And for these "probationary ads", I tend to become a little more strict with the budget and allot just enough (or even the bare minimum) to keep it going.
In conclusion, in deciding whether or not to turn your ads off, what you should do is to become more and more strict with the budget and be more observant with what your Facebook data is telling you. Even if you think it is a really well-made ad with no flaws or imperfections, if it is not making you any money, then it's time to let it go and let the other ones flourish and do their jobs.
Let's Wrap It Up!
The main point of this post is to show you that it is not always a bad idea to temporarily cease the operation of a select few ads to make way for the better performing ones. It's not the end of the world for them -- you're simply turning them off, not deleting them. Take the ad budget that would have been allotted to those ads and reallocate them to those which are actually doing their purpose of making you money and letting the world know about who you are and what your brand represents.
Knowing when to turn your ads off is actually a dropshipping skill that you must learn to master if you wish to eventually scale up and grow your business to greater heights. Remember, the end goal is to take some money home with you and not just lose what you are making in advertising or other costs.
Again, if you are not yet using ClickFunnels for your business and are interested in it now, you can click this link HERE to claim your 14-day trial so you get to experience the greatness within this software without having to pay up front.
If you have any more questions about ClickFunnels and all its features and tools, how it can effectively bring in more profit into your business, setting up funnels and optimizing them, creating the most profitable dropshipping stores, dropshipping in Australia or anything regarding this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, do not forget to subscribe to my YouTube channel!