Is This the Death of Facebook Marketing?
This isn't going to be good!
I had 4 different e-mails come through yesterday about the "Death" of Facebook marketing for small business.
Pretty much the FREE ride is over my friend. In fact, the free ride was over a few years ago and has gotten worse month by month (when it came to getting free exposure) as millions of businesses jumped on the Facebook train - smart move by the way.
The problem - there's only so much room to place ads. People don't want to see ad after ad after ad, or they are going to STOP using Facebook - not what Facebook wants!
Here's What Going On
Facebook is soon going to change the entire game for "Pages" (business pages) on Facebook and it's going to really HURT some and make others MORE money + out smart their competition!
While some stop using Facebook, stop spending money on ads because they see they are getting no return, a small percent will know how to profit and make a killing.
Today I'm going to share with you how to avoid being killed by these changes, how you'll have the BIG advantage over your competition, and the formula to follow where you practically CAN'T lose.
Key Thing You Need To Know
What Facebook is doing is testing - splitting up the current newsfeed into two different news feeds.
Right now, you can scroll down and see what your friends are excited about, their vacations, pictures of their kids, and random people you don't ever talk to anymore who are telling you their life story and the reasoning they just got divorced or broke with their significant other.
Then, you can also see sponsored posts and FREE paid posts, from business owners like us to try to get our existing and new customers in our doors.
That's Coming To A Stop & What's Going To Kill Some
According to reports, the NEW newsfeed will ONLY be updates from their FRIENDS.. NOT business pages they like.
This is where everyone is going to spend their time as Facebook is a social platform.
However, Facebook is STILL going to allow PAID ads in that newsfeed - that's the GOOD NEWS! I'll explain more in a second.
The 2nd newsfeed will be a "Pages" newsfeed so people can stay up to date on stories, news, etc from current business pages they like.
What You Need To Understand
This is GREAT for bar and restaurant owners who KNOW how to utilize Facebook ads to make a profit. This is BAD for the bar and restaurant owners who don't know how to make a profit and have been riding the FREE train of posts - that probably still hasn't done much for their business - but it's free right!
How To Spend $100 Today On Facebook & Profit From It For Months, Even Years!
If you want to survive the "Death" of Facebook, you're going to have to get smart about how you spend your ad dollars and it's ALL about ROI right? Numbers don't lie.
9 out of 10 owners who spend their money on Facebook are doing exactly what they are doing with their free posts - "Here's our prices / here's our specials."
They are shouting out their prices. And they can't track the money that came in, if any came in - so they have no clue if it's working or not.
There's times for doing this - don't get me wrong. But only on maybe 10-20 percent of your ad budget.
What You Should Be Doing...
The other 80-90% of your ad budget should be focused on generating LEADS! Put out a great offer that gets people to GIVE YOU their personal contact information in exchange for the pleasure to do business with you!
Why? Because these people you spend $100 on to hit and get to hand over their information to you could be worth thousands of dollars to you over time.
You can re-market to them through e-mail, texting, banner ads on the web, youtube, etc. You can literally pop up all over in front of people who WANT to do business with you for pennies on the dollar. For months, years on end.
This is how you get the highest ROI! This is what I mean by spend $100 today, generate 100 or more leads, and get them in the door for months, years on end for pennies on the dollar.
Think about - they wouldn't hand over their contact information to you, they wouldn't waste their time while on Facebook, if they didn't WANT to do business with you.
So why keep spending time, getting frustrated, losing ad dollars targeting NEW customers by trying to hit the masses over and over?
Here's the formula for success & the highest ROI possible.
80% of your time should be focused on communicating with these customers / leads through the personal communication channels I just mentioned - primarily e-mail (when you do it right. Don't keep pushing prices / promotions but have real conversations with them. Treat them as friends / talk to them as friends, don't keep asking them to pull out their wallet. They'll never want to hear from you if you do that which is why e-mail doesn't work for 90% of owners)
20% of your time you should focus on generating new leads.
If you don't have customer list / email list, then yes spend 100% of your time and ad dollars building one in the first 30-60 days. Then go back to the 80% time spent on the leads you generated, 20% generating new ones.
How Much Ad Dollars Should You Have To Spend?
If you don't have an e-mail list or if you have a "dead" e-mail list - one that hasn't been communicated to on a personal level and only been promoted specials and promotions - then you could literally spend $500 or less to generate a few thousand leads.
After that you can literally spend $100-$200 a month because you have enough people to target using very inexpensive marketing medias such as e-mail and texting.
You can also upload that entire email list / phone list to Facebook and only target those 1,000 to 2,000 people who've already told you they WANT to do business with you.
Do you know how much it costs to target 1,000 to 2,000 people on Facebook? Under $10 lol! Why keep hitting the masses when you've got a easy way to get 10-20% of a list of 1,000 to 2,000 people in your doors for a great offer or promotion?
Think 10%-20% is out of ordinary? It's not, when you do it right. It's not when you target people who WANT to do business with you.
It's All About Strategy
Here's the BIG problem. We all think we need to focus 80% of our energy and focus on getting new customers in the door where if we focused that 80% on building better relationships and listening to our customers on how we can make THEIR experience better - we'd make more money, double our loyal customers, and have a lot less frustration when it comes to marketing.
This right here is what bar and restaurant owners will need to follow now that the FREE ride is over.
Nick Fosberg is known as one of the highest paid, marketing and promotional consultants in the bar & restaurant industry. He owns 2 bar / restaurants in the Chicagoland area and he's created the highest grossing digital marketing promotions in business without spending a penny on marketing. All done through e-mail & Facebook posts. Receive a FREE copy of his #1 selling book - How To Attract New Customers, Turn Them Into Raving Fans, & Become Unbeatable In Any Market by clicking here.