- Do you need to spend money on social media?
The short answer is no,
cause I work with lots of successful business owners
that have succeeded without having to spend any money.
But the answer is a little bit different for everybody.
And so, by the end of this video,
you'll know what the right answer is for you
and your business, all right?
Let's get into it.
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My name is Jerry Potter.
Yes, it rhymes with the boy wizard.
And today, we're asking the question
or more specifically answering the question,
do you need to spend money on social media.
Now for some business owners,
just the idea of spending money can sound scary.
Cause it's like, well, I'm not making any money yet.
I don't wanna spend any money.
And then other business owners just kind
of consider it the cost of doing business.
One thing I'm not gonna do in this video is tell you,
you gotta spend money to make money,
but we are gonna talk about the times
where you might consider spending money on social media.
Now the first thing I wanna point out is a big mistake
or misunderstanding that a lot of us have
when we first kind of get into social media
for our businesses or spending money
and that is the idea that, oh, well, if we spend money,
our posts will reach more people
and we'll automatically make money.
And I can't tell you how many times
I've seen somebody boost a post
or promote something on Instagram or run ads
and just end up losing a lot of money.
So here's how you want to think about it.
If your audience is your perfect people
and you're already reaching them and they're not buying,
spending money to reach more people is not going
to fix the problem, okay?
So let's say that your posts reach an average of 50 people,
and you're assuming at least most
of them are your ideal customers
and they're not buying what you have,
spending money to reach 500 people is not going
to fix that.
Now, alternatively, if you don't have a following
or you're reaching the wrong people
or you are just getting very, very little reach,
even though you do have a following,
then you might consider spending money
to start getting in front of those ideal people.
But you always wanna be thinking about,
okay, how am I gonna make this money back?
Is this going to come back into my business at some point?
Because otherwise, what you end up doing is
what I call ego boosting boosting
and that's where we will go to a Facebook post,
we'll say, yeah, I'm gonna throw 25 bucks behind this
and boost it and get it out to some more people,
and it gets out there
and maybe it gets a bunch more likes and reactions
and comments and maybe a couple of shares
and you're like, oh my gosh, this is amazing.
Look at this.
I spent 25 bucks and look what I got for it.
And then at the other end of that,
you're thinking like a week later,
oh, but I didn't get any buyers.
I didn't get any clients.
I didn't book any discovery calls.
I got nothing from that.
So that's why I call that ego boosting boosting,
cause it boosts your ego, but not your business.
So before you spend money,
I highly recommend seeing
if you can get your current audience to buy,
because if you're reaching 50 of your ideal people
and they're not buying,
paying to reach 500 is not gonna make it any better.
Now that being said,
if you do spend money and you get sales, that's great.
And sometimes people say,
well, it cost me $75 for every customer
and my products are $100.
Well, if you made $25, like clean and clear,
that's pretty good.
If I came to your door and I said,
hey, I'm gonna give you this hundred dollar bill
and it's legit, like you trust me,
if you give me $75, you're gonna go, okay.
And then you're gonna say, can we do that again?
How many times can we do that?
And that's what advertising on social media can feel like.
Now, would it be better if you spent $10
and were able to sell something for 100,
obviously, but we all have to start somewhere.
Do factor in, though, when you're doing sort
of that advertising math,
the cost of admin, processing fees for charging people
for things, your time, anybody else's time
that you're paying for.
You do have to factor all that in.
And if you're selling a physical product,
obviously you had to pay for the physical product
in the first place.
Now, last thing I wanna address is this idea
that boosting posts is always a terrible idea
or never a good idea.
There's a lot of that extreme talk where it's like,
oh, it's always bad or never good.
And sometimes people that are saying
that are trying to get you
to buy a Facebook ads course,
or they want you to hire them to run Facebook ads
or whatever it might be.
Now, let me be clear.
Facebook Ads Manager,
which is the full on Facebook advertising tool has all
of these bells and whistles and it's amazing.
It's so much better than boosting
if you know them both intricately,
but boosting is a great way to just get your current content
in front of more people
if you don't know Facebook Ads Manager,
or you're not willing to hire somebody
to run the ads for you
cause Facebook Ads Manager is also a way
to lose a lot of money very, very quickly.
I was working with one client that was a restaurant
and they were adding breakfast to their menu.
So they'd only serve lunch and dinner.
So they put together this video,
they put five bucks behind it
and the media started to take off.
We added another 30 bucks to it, I think.
And for 35 bucks,
they reached 13,000 locals to let them know
that they were now serving breakfast at this restaurant.
It was very effective.
And again, it was a boost.
Joanna Inks was another member in our membership,
Five Minute Social Academy, I worked with
and she kind of figured out what she needed to do
to get out there and spent 30 bucks
and booked $1,400 worth of business
in a couple of days.
Tom Love spent 10 bucks on a boost
for his business in Florida in the United States
and ended up booking $3,000 worth of business.
So I just wanna dispel the idea that,
oh, boosting is always bad and it's always a waste of money.
Is it as good as Facebook Ads Manager?
No, but if you don't know Facebook Ads Manager,
and you're not going all in, boosting can be a great,
simple way to get your content in front of more people.
So are you gonna spend money on social media?
Let me know in the comments and if you are,
or if you just want to make sure that more people
who visit your pages and profiles become buyers,
you might wanna check out my Profitable Pages
& Profiles workshop.
Hundreds of business owners,
maybe thousands at this point have implemented
what I teach in this workshop into their businesses
and a lot of them see results within a day or two.
Like Portia who stayed up one night,
making sure her Facebook personal profile was set
up the right way and got a new lead
and client the next morning
or Jen who used the workshop to make over her pages
and profiles and got two inquiries within 18 hours
that led to over $1000 worth of new business.
But the record's gotta be Tom
who set up his Facebook business page using what we teach
in their workshop, hit publish, and 30 minutes later,
a woman called his business to book him
and he said, where'd you hear about me?
And she goes, oh, I searched on Facebook
and your page came right up.
This is a way to increase sales without more posting.
Worse yet, if you haven't set up your pages
and profiles the right way,
you could already be missing out
on potential sales right now.
Inside, I'm gonna show you the four essential items
every page and profile needs so that visitors become buyers.
And the best part, go through this process once
and it will serve you for years.
Now, normally it's $47,
but right now, if you go to profitablepage.com/youtube,
this is a special link for people on YouTube,
you can get this entire workshop for only $17.
Again, that's profitablepage.com/youtube,
and of course, you can also find that
in the description of this video.
And you know what?
I'm gonna throw in a couple of bonuses as well.
If you're not sure that you are on the best social network
or networks for your business.
I have a five-part framework that I use with people
to help make sure that you're in the right place,
like where's your content gonna perform the best?
It goes so much further than just where is my audience.
You need to make sure you can reach them,
you can engage with them, all of those things.
And I'm gonna throw that in as a bonus,
as well as if you have social networks,
you're not posting on as much anymore.
I have a special training called How
to Revive Your Abandoned Networks
so that it doesn't look like you went out
of business on Twitter eight years ago.
You get both of those now.
Again, go to profitablepage.com/youtube
to get that special price
just for YouTube viewers right now.
Thank you for watching today.
You're not only supporting me,
but also my two tiny superheroes at home.
And if you're looking for more help growing your business
with social media,
check out the video on the screen right now.