What's up you guys Jason Wardrop here
And in this video I want to share with you what I learned from spending over
300 thousand dollars on Facebook Ads so you can see right here. This is my main accounts
We spent about three hundred seventy six thousand dollars. And for those you guys have been following the channel the last couple of months
I've actually spent a
Lot less than I was earlier on the year because I had my ACL surgery then I had a kid
so the spending was a lot lower than what normally was because in the early part of the year, I was spending probably about
50,000 per month and so, you know, you take that over 12 months that's gonna be about
600,000 but then around August I really started to slow down
I was only probably spending 10 to 20 thousand dollars per month
so in this video
I want to share with you guys some different things that I've learned
so that it could possibly help you guys with your Facebook ads moving forward and
Also let you know if it was even actually worth it spending all that money now before we dive into things
I've got my free facebook ads cheat sheet right here
We've got several pages diving into all the things Facebook gas manager the Facebook ad campaigns
Facebook got set up cuz some audiences look like audiences all the different parts about Facebook Ads
So I've got a link to that free cheat sheet and I've got a mini course as well on Facebook ads
So you'll be able to go through watch those videos have this cheat sheet
So that free link is at the pin comment as well as in the description
So you guys can jump in and download that really quick
So the first thing that I want to share with you guys after spending over
300,000 nearly four hundred thousand dollars on Facebook ads in 2018 and the year is not even over quite yet is that you always
Need to be testing and always need to be learned. So although I've got a YouTube channel
I've got a lot of videos on Facebook ads and I consider myself pretty good at advertising on Facebook
I still go through and I picked my friends brains that also
Advertise on Facebook and kind of see their different strategies their different angles see what they're doing
Then I even have some friends where you know
They kind of do like the consulting for Facebook ads and so I'll go through it
I'll pay them 500 to a thousand dollars just to spend an hour with them on the phone
to see some of the different strategies and ideas that they're doing to maybe go through and have different ideas to implement into
My business so I got a good friend that funny store actually grew up with him
We lived on the same exact street growing up and he is a big-time
Facebook advertiser and then just randomly like 10 15 years later were both big into Facebook ads so he has gone through and done
advertising for big-time
companies like
Golden State Warriors and a lot of other big-name brands that you guys have definitely heard of and so I from time to time I'll
Just go pay him and just spend an hour on the phone with him showing my stuff see
You know what he's doing and so I could just collaborate and just learn and get new ideas from other people
That are also performing at a very high level with Facebook Ads kind of part
One of this is always be learning but also always be testing and with your test comes a lot of learned knowledge
So one thing you'll see is that Facebook is always changing things
They're always making improvements updates and sometimes they think there are improvements, but they're not fully improvements quite yet
They don't work super well
And so you just got to kind of test them and see if they actually work like the new campaign budget
optimization where
Instead of sitting the daily budget at the ad set level of saying I'm gonna spend hey 50 bucks per day on this ad set
50 bucks per day on this ad set maybe a hundred dollars on this ad set you can say hey
I'm just gonna spend a thousand dollars on this whole campaign and then Facebook is actually gonna optimize that campaign and spend that
Advertising budget where they feel it's gonna perform best for your advertising campaign
So I'm actually kind of in the middle of still testing that so I don't have any like clear-cut results on that for you guys
but another thing that I've been testing lately that has actually been working very well is
If you guys have been following my channel
I always say when you're going through and hitting the placements just do the mobile and desktop newsfeed
The thing with that is because there's so many more Facebook advertisers coming on board and it's just supply and demand
It's really a bidding system
So whoever is willing to pay more for that ad space and there's only so many ad slots. Then that person's gonna win out
So now I've been testing with going with Facebook's
Recommended all placements we're gonna see that on Instagram on Facebook on their audience network on
Every platform that Facebook has control over
and what's happened is our cost per leads have dropped dramatically the
CPM or cost per thousand impressions is dropped dramatically
and so I've been testing that and I've got
on-and-off testing that
multiple times throughout the year and it hasn't been until late that actually feel that that is worth it to go through and hit all
placements for my advertising, okay
So step one is basically always be learning always be testing step number two if you're going through it
You're gonna have an advertising budget
Like let's say you have a little bit smaller
Advertising budget of let's say a thousand dollars for the month for ten thousand dollars for a month or whatever. It might be
You want to focus literally 85 and 90 percent of that advertising budget on one
Campaign on one core funnel. You don't want to be spread super thin
Because at that then you don't really have enough money to go see if a funnel is really working for you
So if you think back to like kind of the russell brunson traditional like sales funnels, there's all different types of funds
There's webinar funnels. There's tripwire funnels. There's book funnels. There's all these different things
Whereas like if you're focusing on multiple different sales funnels
Then you really don't have enough advertising
Budget to test them and fully optimize them and get them working the way they really should be working now
I know if you guys are like me a typical entrepreneur
we like to go through and we get ideas like ideas all the time and I was like throw out the wall see if they
Stick but really that detracts from our success and it makes us lose focus
So there we're not actually achieving as much as we really can
so then what we do with the other 10 to 15 percent of the advertising budget is we can use that to
Retarget people to either come back to an existing funnel or maybe promote some other offers that you might have
So for example like me, I've got a core webinar
It's a thousand dollar webinar product that I go through and I Drive 85 to 90 percent of my traffic
To that webinar then the other ten to fifteen percent of my advertising budget
I am spending that on
retarding to the people that already visited my site or already attended to get them to either go back to that webinar or
I've got a free 7-day trial for our software
where I'm also
targeting them to go back to that direction as well because the whole goal of the webinar is to get people signed up on our
software
So then kind of like that next step below that is getting people on a free 7 day trial to jump in to our software
And then I have a clear focus. Everything is going towards that webinar. I know where everyone's going
I kind of know the exact same experience
Everyone's having so then when I'm falling up via email
I'm not completely scattered and I don't know what people have seen what they haven't seen and
It just makes everything a lot more organized
Okay
So we talked about always be testing always be learning
Number two having a majority of your advertising budget go to one core sales funnel the book
I love is called the one thing by Gary Keller and he talks about focusing on just one thing and he the kind of the
core concept is what is the one thing that's gonna make everything else easier or
Irrelevant, right? So obviously if I'm going through and I'm getting sales on my webinar and then number 30
Is that tracking a really keeping track of your numbers?
Brings peace of mind and brings a whole lot of clarity so around July of this year
I really started tracking my numbers day by day and
It's crazy the amount of clarity and amount of focus that it's brought to me and my business and even the peace of mind of
Just knowing where I was at with my business if I was making money losing money or what's going on
So right here guys, I'm gonna show you guys. This is my tracking sheet
so every single day you can see October November December January February
So I have every single day and even I started kind of doing it in August
and I went back and I went started from the very beginning of the year to
Track all my numbers for the month of how many leads I was generating. What was the cost per lead?
How many people were actually attending the webinar?
What was the cost to get somebody to attend the webinar?
How many people actually stayed to see the pitch at the end of the webinar?
And then how many sales was I making making every single day and then tracking revenue versus cash now?
This is a big thing that a lot of marketers don't really track they go through and they throw out these big revenue numbers
But it's not accounting for ad spend. It's not accounting for expenses with their company
It's not accounting for refunds or chargebacks or anything like that
And so you've got to account for not only the revenue but the cash is actually collected because on our webinar
We have a multiple payment plan. So if somebody goes and they want to do a three payment plan of 367
That's what ours is and they only make the first payment or they make the first a second but the third
that is very different as opposed to just tracking revenue and saying oh
Well this person signed up on a three payment plan and because of that I'm gonna be making $1,100
but you only
collected three hundred and sixty-seven that day and so by tracking this you can kind of see over the course of the month I was
positive on cash collected pause about 1600 but on revenue after the next two to three months, I'll be pause about
$23,000 if all the payments come in, which typically they don't all come in, but that's the thing
You just gotta track both of those
It's gonna bring a lot of clarity a lot of peace of mind to your business and step number four
It kind of goes along the lines with all of this stuff is this keeping the long term in mind and that's kind of going
through and with the tracking of the revenue over the next three months with this, you know, you're making
$22,000
But if you're just so focused on the short-term, then that doesn't really make sense to you
so you got to think if you are willing to spend five dollars to generate a lead and maybe that same month you only make
Five dollars back where you make three dollars back. So in month one, you're actually losing a little bit of money
Well, what about after three months and after six months and after twelve months?
What is the lifetime value of that lead typically if you're tracking this and you know your numbers and you know?
How much you are making off of every single lead, you know? Hey, look I'm spending five dollars this month
I'm only making three dollars back house. I'm actually losing two dollars every single time
I buy a five dollar lead
but after six months that five dollar leads actually
Brings me in twenty four dollars of revenue so you can see how if you play the long-term game if you're a little bit more
Patient you're not just so focused on the here and now that you're actually able to make a lot more money
so for example
I have the webinar where you have the full pay of 997 or three payments of
367 now the last couple of months because the holidays because I had a little baby boy
I had my knee surgery all that stuff. I haven't been spending as much money on advertising
So starting January
I'm gonna start ramping up my
advertising a lot more but if you think about it if I have the payment plan option which by the way a
Majority of people take that payment plan option because it's a little bit lower ticket
They can kind of test it out. See if it's gonna be working. That's just kind of the human nature, right?
but that month one if I'm gonna be spending let's say
$2,000 a day I spend sixty thousand dollars over the course of the month, right?
well
If most people are taking that three payment option which eighty to eighty-five percent actually take that
Then that month I might be breaking even or even potentially losing money, but then month two
So in February if I spend that same amount of money
I'm getting all the payments from February of all the new signups
plus I'm getting the second payments from
January and then March that's when the money really starts to pull in because I'm gonna be still spending money on advertising
I'm gonna get the new signup payments. I'm gonna get the second payments from February and I'll get the third payments from January
So then from there things just start to snowball
So if I was just looking at January alone, I'd look at my numbers and be like man
I'm really not making that much money. I should probably kill my ads
Whereas that's the worst thing I could possibly do because then I would just have to start it all back up again
The next month and I just be starting over from Ground Zero time and time and time again
Whereas if I give it 90 to 120 days, it gives my advertising
It gives my sales a chance to
Snowball to actually see that money really start to roll in and really start to see that profit
So new guys, those are four of the big things that I learned this year from spammers four hundred thousand dollars on Facebook ads
So number one always be testing always it'll be learning always be investing into your mind
It's a mentorship. I've spent well over
$100,000 on mentors alone just to go through and learn different strategies learn new techniques and
That's really what's gotten me to the point where I've gotten today. And then number two is focusing on the one thing
Okay
Having that focus having all your advertising budget or majority of it going to one core funnel and if that funnel is not working
Tweak it until it works work on the sales message work on everything until it actually works
don't go jump from one funnel to the next one is the next funnel because you're not giving enough time or
Advertising dollars to actually make it work
then number three is get very detailed with your tracking really have that clarity and
It's gonna bring a massive peace of mind so that you know, okay. Well if I spend
$60,000 in January, but I only make fifty five thousand dollars back out
Well in February in March
I'm gonna really start the snowball and the money's really gonna start to pour in that number for just with like kind of tracking is
Just keeping the long-term in mind
Okay, if you're going through and spending money and this goes especially for the real estate clients that I work with
Just think about it if you're going through and you're gonna spend five hundred dollars a month or five hundred dollars this month on
advertising
Then maybe you only have one deal go through
Or maybe you have one deal go through but it's not till next month
You got to just keep that long-term in mind where you're generating leads right now
And then if you stick with it
Then it's gonna really start the snowball the lead generation is gonna start a snowball and then months three four five
That's where you really start to see the profit come in
So anyway guys, I hope this video was helpful as far as some things that I learned after spending over three hundred thousand dollars on
Facebook Ads in 2018. And with that said guys I'm gonna keep on testing
I'm gonna keep learning and I'll keep sharing you with you guys the things that are working the things that are not working to help
You out with your business. And once again, if you guys want that hundred percent free facebook ass cheat sheet
Plus that mini course where I dive into the Facebook pixel custom audience custom conversions
Everything Facebook Ads then click on the link down in the description
Or in the top comment and you guys will be able to download that get that a hundred percent for free
So anyway guys you guys found this video helpful. Go ahead
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Anyways, thanks so much guys for watching and I will see you in the next video