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A membership owner is running Facebook & Instagram ads to get up to 10 new members a day and broke even on Day 1 after taking my Ad Testing Cheat Code course. I talk about some of the advice I shared with them on a recent call.
- Cut your lead gen costs in HALF with my $37 mini-course–NOW only $17!
- Visit The Art of Online Business website for Facebook Ads help
I also share two ways to increase average order value, what to make even more money if your ads are already profitable. Plus why I think switching from a free lead magnet to a low-ticket offer is the smarter play.
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Speaker 1:
What happens when you finally follow an ad testing process step-by-step. Well, in this episode you’re going to hear about an online membership owner who turned their £5 a month offer into daily profits through testing their ads, and they got rapid member growth from using my ad testing cheat code. I got to hop on a call with this person last week at the time of recording this video, and it was such a treat. They said that they were a long-term business owner running a faith-based wellness brand you know, retreats, coaching but the membership specifically and they had tried to run ads before and just tired of losing and just feeling unsure, you know, and they had wanted to get off of the social media hamster wheel, so to speak to use that cliche and just focus on growth through ads. So I’m going to tell you, of course, what was working for them quite well, or what is working for them quite well. But first, what wasn’t working is they never had a system before and testing, in their words, felt confusing and random. But when it came to testing visuals, they literally said they should be doing it, but they don’t know how. So they found the ad testing cheat code through this very same podcast you’re listening to, and they followed the steps, Starting with testing the ad copy, first finding the best version of ad copy and then moving on to testing some images. And when I talked to this person, they were just starting to test different images, but already seeing profitable ads running to none other than a SLO funnel. That started with their membership, which is super hard to do, and the initial results were actually really surprising. They were profitable from the first day and over the first 10 days and I had a look at their ads. They should stay profitable. Here’s the quick breakdown when I talked to them, they had spent just under 300 pounds and had gotten 43 signups for their membership in 10 days. They had an order bump on this sales page, which was intriguing that a very high percentage of people who signed up for the membership were taking the order bump 50% actually. And here’s the very good news, this person has been profitable on the very first purchase, as in her ads are running a positive ROAS return on ad spend of 1.09.
Speaker 1:
Now you may be like wait Quajo, I gave Mark Zuckerberg $1 but only made $1.09 in return. What’s so great about that? Well, I’ll tell you what’s so great about that. That’s the first month purchase of their membership right, but people stay in a membership. Membership is kind of like the holy grail of online business because it’s recurring revenue. Many membership owners have to wait until like the second or third month to be profitable.
Speaker 1:
But if you’re profitable off of that very first purchase hint, because you set up your SLO funnel the right way, as in having a good, aligned order bump, that is very, very, very good, and now they are getting three to ten signups a day, and so I’m going to give you some of the same advice that I gave them on how to make your ads work better. Okay, now, obviously, disclaimer you are almost guaranteed you are guaranteed, in fact to lose money on Facebook ads, because Facebook and Instagram ads requires testing through, as it don’t work, in order to find the ads that do work, and I would never encourage you to just blindly trust the advice of a random Facebook and Instagram ads manager from the internet or from the podcast. You must do your own testing. Okay, that’s the disclaimer. What I’m sharing is what has worked, and I’ve been managing ads for the better part of the last six years, so, okay, might I add that this person has had success with an imperfect, a not perfect ad campaign.
Speaker 1:
There were several in our short time together. There were several mistakes. During the time they shared their screen with me and we talked, which was very short, I saw a handful of mistakes as in ways that they could fix their ad campaign and begin to have it set up better and have it work better. For example, they were using the wrong campaign objective and their targeting, while good, had a lot of room for improvement, and they weren’t even using the best targeting audience. So here’s what I told them Since they had positive return on ad spend and they had asked how to scale, I said scale 15% every morning at the same time every morning, if you scale 15%, that’s a gradual enough scale that the algorithm will not be thrown off by this huge influx of ad spend dollars or pounds in their case and the ROAS should hold but you know what I said to increase revenue as in cash collected up front.
Speaker 1:
Two things. So if you’re a membership owner listening right now make sure you’re doing these two things. The first one was that their order bump was 50% of the people who were getting the membership the core offer were also getting the order bump and standards should be like 20%. So if you are way above that standard of 15 to 20% of people getting your order bump, then you probably can make more money right on the get-go by raising your order bump price. Do so incrementally, not in huge jumps, and then just measure your average order value, aov, and maybe you do this thing where you say it’s $27 a month or it’s $297 a year in annual discount right. But let’s say they came in at $27 a month.
Speaker 1:
Right at the end of that first month when they would renew, you send them an email, automated of course, with a discount, that says hey, I hope you’re liking the membership effectively, like many others who want to take advantage of this, we’re going to offer you an upgrade to the annual plan. In fact, if you take the upgrade now, you get two months free, and only right here and right now, right. So instead of $2.97 for the annual plan, you know. And then you just you know, divide $2.97 by 12, it’s $24.75, multiply that by two for two months, and so then that’s $49.50, $2.97 minus $49.50. Then you can say, instead of $2.97 for the year, you’ll get two months free right here, limited time, for just $2.47. And so what happens is is a percentage of people will say, hey, I am enjoying your membership, I would like to get that discount off of the annual plan because I could see myself using this longer. And then you’ll sell annual memberships in the first month of somebody, within the first month of somebody joining your membership, and so you’ve upgraded them and you’ve got more cash up front. That is a technique that you can use to get more cash sooner but also break even sooner if you’re not breaking even on the front end, like this person I was talking to, who used my ad testing cheat code. By the way, you can get the ad testing cheat code because I believe you, like many others, deserve to cut your lead cost from 25% up to even cutting it down to 60% of what it was, just by following the same framework that I use every time in my client accounts. That is $37 for you. It is discounted to $17. Take advantage of that.
Speaker 1:
Today. In the show notes below, one more piece of advice that I gave this person was that well, they didn’t have an upsell. The key to a profitable self-liquidating offer funnel, an SLO funnel, is to have a core offer, a order bump and an upsell, because average cold traffic that’s not familiar with your business coming to that upsell power or to that SLO funnel powered by Facebook and Instagram ads. 15% of the people that get the cold offer, let’s just say, will also get the order bump and another 5 to 10% will get the upsell. So if you don’t have an upsell on yours, you’re leaving money on the table. Spend some time, ideate with ChatGBT, look at your current offers and decide what you can include as a very aligned upsell an aligned upsell that aligns with the order bump and with the core offer. That way, you’re serving the people who are coming to you and your benefit and your business is benefiting from that.
Speaker 1:
Because here’s why this is worth it and why many people call self-liquidating offers the holy grail. You can run your lead magnet and you should if you already have a funnel that’s converting let’s say, a webinar launch funnel right, leads come onto your list and then they register for the webinar and you make a profit. But the thing with free lead magnets is that they do attract a high percentage of people who are just there to consume information for free and that will never purchase something from you. That’s part of the online marketing game. But with a self-liquidating offer funnel, if you do the work. The big benefit here is that everyone that comes onto your list is already a purchaser, and purchasers are more likely to purchase other things from your business in the future. And, honestly, even if you were running a self-liquidating offer funnel at a slight loss self-liquidating offer funnel at a slight loss, so to speak as in you know, maybe your ROAS was slightly negative you give Mark Zuckerberg a dollar and Zuck only gives you 95 cents back, right? Well, I would take that, because that means that you’re probably still paying less to get a new buyer on your email list than you would be paying to get somebody who downloaded a free lead magnet on your email list.
Speaker 1:
And Everyone is created equally, right? It’s just somebody who buys, has the habit of buying and already is in a mindset to invest in themselves. You don’t have to sell them twice, first on the concept that they need to invest in their own business, and second, that you’re the person they need to invest with because they already bought. So they’re in that mindset of investment in their personal growth, in their business growth, and then, when they see another offer from you later on down in your funnel, they’re in that mindset of investment in their personal growth and their business growth. And then when they see another offer from you later on down in your funnel, they are more likely to purchase that offer.
Speaker 1:
And I’m going to say something a bit controversial here, but I think you need to hear it. I know I did in the past, which is that I did have a free lead magnet, and you know what I noticed. I did have a free lead magnet and you know what I noticed when people downloaded that free lead magnet, fewer of those people took paid action later on in my funnel and the open rates of the lead magnet were well, they were what they were. But here’s what I want to say is, when I started offering, instead of that free lead magnet, just a low ticket offer to somebody on this podcast or when I guest speak on other podcasts, yes, the number of people who opted in went down, but their engagement in my email list went up and they also, surprise, surprise, purchased other things, either directly from my self-liquidating offer funnel, which starts with the ad testing cheat code, the order bump is Canva templates and then the upsell are Facebook and Instagram ad copy templates. Both the Canva and the Facebook and Instagram ad copy templates are just templates of ads or creative that we’ve designed, that has worked in the past and gotten high ROAS for clients, right.
Speaker 1:
And so then I realized what’s going on here? Am I doing a disservice to you by just offering something that’s free, because here’s what I don’t like about myself. Maybe you’re experiencing the same thing, but I have realized I consume so many YouTube videos. It’s great, it’s free. I watch a bunch of stuff about business, but it’s kind of just this dopamine hit that I get while I’m walking outside doing my laps up and down the neighborhood block. I’m like, ooh, I learned something new. But I had to be honest with myself how much of this new stuff was I using and incorporating in my business? Not very much, and I was consuming a couple hours of content a day.
Speaker 1:
Now lots of folks will download free lead magnets and think, because they went and did that download, they got that dopamine hit. Yes, they feel good, yes, but are they actually going and using that free lead magnet? It’s a small percentage of people that do. Most of us not you, somebody else who’s listening to the podcast download things that we intend to use and then don’t use them at all. And so I made that switch because I really want to help people and by offering not a free lead magnet, but something that does take a bit of investment, because you know how it is. I know you’ve heard this before, but when somebody has skin in the game, shoot. When you have skin in the game, you take action a higher percentage of the time because you’re like I just paid that money, I don’t want to lose that money, so I better get on it and use the thing that I purchased. That’s how I am. Maybe you’re like that too. Statistics say that other people are, and I made this switch because more people who are inside of my business ecosphere.
Speaker 1:
Winning is better for them and their businesses and for me, and I would wager that the same is true or is going to be true, if you get rid of your free lead magnet and offer something of value instead.
Speaker 1:
Your lead magnet is valuable, but I specifically mean offer something for a price instead, and you might experiment. Just offer it for a dollar, maybe it’s $5 or $7. But look at your email open rates. Compare the people who have purchased that low ticket offer from you versus just gotten the free lead magnet, because they should be going into the same email, nurture sequence eventually right and see how their open rates are, their click-through rates are, gauge what other things are purchasing and just measure the difference and, hopefully, the benefit for your business. Okay, and it’s just a test. If you see no difference, go back to offering your free lead magnet, but at least you put in the work. I love that quote by Thomas Edison Opportunity. Usually we miss out on opportunity because it’s dressed up in overalls and it looks like work. Until the next time you hear from me, take care, be blessed and I’ll see you in the next one.
