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I Spent $1,000,000 On Facebook Ads (What I Learned)

Published on: November 26 2022 by Jordan Welch

I Spent $1,000,000 On Facebook Ads (What I Learned)

I Spent $1,000,000 On Facebook Ads (What I Learned)

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00:00:00 00:00:04 in the last three years i've spent over
00:00:01 00:00:05 one million dollars on facebook ads and
00:00:04 00:00:07 in this video i'll be sharing with you
00:00:05 00:00:09 the four most important things that i
00:00:07 00:00:10 learned along the way these are the
00:00:09 00:00:12 things that i wish i knew before i
00:00:10 00:00:14 started running facebook ads and if i
00:00:12 00:00:16 had known them i would have saved
00:00:14 00:00:18 thousands of dollars in testing and
00:00:16 00:00:20 found my first success much quicker but
00:00:18 00:00:21 first let me jump into my account and
00:00:20 00:00:23 show you some proof this is my facebook
00:00:21 00:00:24 dashboard so let's take a quick look at
00:00:23 00:00:26 how much i've spent over the last couple
00:00:24 00:00:27 of years i know you guys don't care that
00:00:26 00:00:29 much but i just want to show you this so
00:00:27 00:00:31 you know it's all legit on account
00:00:29 00:00:34 number one i spent 22 000. on account
00:00:31 00:00:37 number two i spent 21 000. on this
00:00:34 00:00:40 account i spent 122 000 on this account
00:00:37 00:00:43 i spent 268 000 on this account i spent
00:00:40 00:00:45 17 000 on this account i spent 60 000
00:00:43 00:00:49 and lastly on this account me and a
00:00:45 00:00:50 partner spent around 1.1 million so i
00:00:49 00:00:52 don't know the grand total but i've
00:00:50 00:00:54 spent a lot and i've learned a lot along
00:00:52 00:00:55 the way so let's get started with the
00:00:54 00:00:57 first and one of the most important
00:00:55 00:00:59 lessons that i've learned so far this
00:00:57 00:01:01 might be a hard pill to swallow but you
00:00:59 00:01:03 need to hear it your strategy
00:01:01 00:01:05 it doesn't matter there are so many
00:01:03 00:01:07 different facebook ad strategies out
00:01:05 00:01:09 there and many beginners get caught up
00:01:07 00:01:12 in trying to decide which is the best
00:01:09 00:01:14 one and if that's you i hate to say it
00:01:12 00:01:16 but you are completely focusing on the
00:01:14 00:01:18 wrong things out of all the facebook
00:01:16 00:01:20 strategies that exist there's one thing
00:01:18 00:01:24 that stays constant amongst all of them
00:01:20 00:01:26 i like to call it the big three
00:01:24 00:01:28 well i guess that would mean there's
00:01:26 00:01:30 three things anyways the big three are
00:01:28 00:01:32 your product your creative and your
00:01:30 00:01:34 offer let's break each one of them down
00:01:32 00:01:36 there's simply no way that you can force
00:01:34 00:01:37 a bad product to sell on facebook so
00:01:36 00:01:40 here are some things to look out for
00:01:37 00:01:42 when trying to find a great product find
00:01:40 00:01:43 something that is already selling well
00:01:42 00:01:45 on the platform you don't have to
00:01:43 00:01:46 reinvent the wheel and find the next big
00:01:45 00:01:48 thing you can simply look at what's
00:01:46 00:01:49 already working and figure out how to do
00:01:48 00:01:51 it better try to find products that have
00:01:49 00:01:53 been launched somewhat recently so you
00:01:51 00:01:54 can jump on the trend as it's happening
00:01:53 00:01:56 and not after it's well passed and
00:01:54 00:01:57 lastly look for a product that's
00:01:56 00:01:59 somewhat evergreen you don't want to
00:01:57 00:02:00 find stuff that's only hot for a month
00:01:59 00:02:02 you want to find those products that can
00:02:00 00:02:03 sell for months even years those are the
00:02:02 00:02:06 ones that you'll be able to make
00:02:03 00:02:07 millions off of next up is the creative
00:02:06 00:02:09 now i can make a whole video about
00:02:07 00:02:11 creatives themselves and i actually have
00:02:09 00:02:13 in the past so we're not going to dig
00:02:11 00:02:14 too deep into this topic but even if you
00:02:13 00:02:16 have the best product in the world if
00:02:14 00:02:19 you have a bad creative the product is
00:02:16 00:02:21 not going to be able to sell at all a
00:02:19 00:02:22 great creative can actually save a
00:02:21 00:02:24 mediocre product but it doesn't
00:02:22 00:02:26 necessarily work the other way around
00:02:24 00:02:28 being able to create a high quality
00:02:26 00:02:30 video or photo ad for your product is
00:02:28 00:02:32 the number one skill that you need to be
00:02:30 00:02:35 a successful marketer on facebook or any
00:02:32 00:02:36 other platform lastly you need a good
00:02:35 00:02:38 offer that allows you to profitably
00:02:36 00:02:40 scale your product you can do all kinds
00:02:38 00:02:42 of stuff with offers like bundles
00:02:40 00:02:44 upsells subscription models but for the
00:02:42 00:02:46 most part i try to keep it as simple as
00:02:44 00:02:47 possible so it's easy for the customer
00:02:46 00:02:49 to understand and if you're able to
00:02:47 00:02:50 combine these three things you'll be
00:02:49 00:02:52 able to find success with facebook no
00:02:50 00:02:55 matter what strategy you're using this
00:02:52 00:02:56 brand is called the ocean project and
00:02:55 00:02:58 basically all they're doing is selling
00:02:56 00:03:00 simple jewelry but because they've
00:02:58 00:03:01 combined the big three they're able to
00:03:00 00:03:03 scale this product really high the
00:03:01 00:03:05 product is really simple it is this
00:03:03 00:03:07 turtle necklace but the big selling
00:03:05 00:03:09 point is that with every sale you can
00:03:07 00:03:12 track a turtle you can help save the
00:03:09 00:03:14 turtles and every dollar goes to funding
00:03:12 00:03:15 ocean cleanups so not only are they
00:03:14 00:03:17 buying the necklace but they're buying
00:03:15 00:03:18 the peace of mind that they're giving
00:03:17 00:03:20 back to the earth in regards to the
00:03:18 00:03:21 creative they've done a good job by
00:03:20 00:03:23 keeping it simple and straight to the
00:03:21 00:03:25 point they show the product they show
00:03:23 00:03:27 the benefits in the actual copy they
00:03:25 00:03:29 give a review from somebody that has
00:03:27 00:03:31 ordered they give the main features and
00:03:29 00:03:33 benefits of ordering from them money
00:03:31 00:03:36 back guarantee high reviews 50 000
00:03:33 00:03:38 customers the perfect gift it is really
00:03:36 00:03:40 simple but it gets the job done and as
00:03:38 00:03:42 you can see it has a ton of engagement
00:03:40 00:03:44 people are really pleased with the
00:03:42 00:03:46 product let's see here they say i got
00:03:44 00:03:49 mine i love it you get the idea here my
00:03:46 00:03:50 son bought this as a gift for me people
00:03:49 00:03:52 really like this product
00:03:50 00:03:54 and lastly i think the best thing they
00:03:52 00:03:56 have going for them is their offer so
00:03:54 00:03:59 you see that they are selling just one
00:03:56 00:04:01 at a time but every single purchase
00:03:59 00:04:03 allows you to track a turtle so instead
00:04:01 00:04:04 of just saying hey guys we're gonna sell
00:04:03 00:04:07 you this necklace that you can wear
00:04:04 00:04:08 we're gonna sell you this necklace and
00:04:07 00:04:11 allow you to donate money with your
00:04:08 00:04:13 purchase and allow you to track a turtle
00:04:11 00:04:17 with your purchase so the value of
00:04:13 00:04:19 spending 25 has now gone up tremendously
00:04:17 00:04:21 making for a great offer let me say one
00:04:19 00:04:23 last thing about their offer so as you
00:04:21 00:04:27 can see they put it at 50 off and it's
00:04:23 00:04:29 25 for one necklace conveniently they
00:04:27 00:04:32 put free shipping over 49
00:04:29 00:04:33 so if you bought two necklaces you get
00:04:32 00:04:35 free shipping so what do you think the
00:04:33 00:04:37 average consumer is going to do with a
00:04:35 00:04:39 brand like this they can target these
00:04:37 00:04:41 simplest audiences and run a basic
00:04:39 00:04:43 strategy and beat everybody in their
00:04:41 00:04:46 market because they focused on what
00:04:43 00:04:48 truly matters the most so stop looking
00:04:46 00:04:50 for that secret strategy focus on
00:04:48 00:04:53 becoming a better marketer and finding a
00:04:50 00:04:55 great product that is how you're gonna
00:04:53 00:04:57 truly have success with facebook ads
00:04:55 00:04:58 let's move on to tip number two here's
00:04:57 00:05:01 the truth about facebook the person that
00:04:58 00:05:03 can spend the most will always win now
00:05:01 00:05:05 wait don't freak out just yet because
00:05:03 00:05:07 i'm not toking about the person that
00:05:05 00:05:08 has the most money or the highest budget
00:05:07 00:05:10 i'm toking about the person that can
00:05:08 00:05:12 profitably spend the most to get a
00:05:10 00:05:16 customer let me explain we have two
00:05:12 00:05:17 stores store a and store b store a buys
00:05:16 00:05:19 their product for five dollars and sells
00:05:17 00:05:21 it for twenty dollars which means they
00:05:19 00:05:23 can afford to spend fifteen dollars to
00:05:21 00:05:25 get a customer store b buys their
00:05:23 00:05:27 product for ten dollars and sells it for
00:05:25 00:05:29 forty dollars which means they can spend
00:05:27 00:05:31 thirty dollars to get a customer
00:05:29 00:05:34 considering that facebook is an auction
00:05:31 00:05:36 based platform if store a and store b
00:05:34 00:05:39 are running ads to the same audience
00:05:36 00:05:40 store b is going to win all day long
00:05:39 00:05:43 they're going to be able to consistently
00:05:40 00:05:45 outbid store a because they can afford
00:05:43 00:05:48 to spend more money per customer so what
00:05:45 00:05:50 can you do to be more like store b well
00:05:48 00:05:52 it's it's simple really first find
00:05:50 00:05:54 products with above a 25 profit margin
00:05:52 00:05:56 this is going to make advertising so
00:05:54 00:05:57 much easier let's say your profit margin
00:05:56 00:05:58 on your product is ten dollars that
00:05:57 00:06:00 means you're going to have to be
00:05:58 00:06:02 consistently getting customers for
00:06:00 00:06:05 around five dollars which is almost
00:06:02 00:06:07 impossible on facebook nowadays secondly
00:06:05 00:06:09 use upsells and bundles to massively
00:06:07 00:06:11 increase your average order value this
00:06:09 00:06:12 will make it so much easier to advertise
00:06:11 00:06:14 on facebook because you're going to make
00:06:12 00:06:15 more money per visitor that comes to
00:06:14 00:06:17 your site just find products that
00:06:15 00:06:19 complement the main one that you're
00:06:17 00:06:21 selling and use an app like one click
00:06:19 00:06:23 upsell to maximize your profits on each
00:06:21 00:06:25 sale and no this video is not sponsored
00:06:23 00:06:27 by them i actually use their app and
00:06:25 00:06:29 it's pretty good and lastly use email
00:06:27 00:06:31 and sms marketing to get your existing
00:06:29 00:06:34 customers to come back and buy again
00:06:31 00:06:35 this is called lifetime value after you
00:06:34 00:06:37 run a product for a long time this
00:06:35 00:06:39 becomes your most important metric to
00:06:37 00:06:42 focus on it's a lot more expensive to
00:06:39 00:06:43 acquire a new customer than to just take
00:06:42 00:06:45 care and sell more to the existing
00:06:43 00:06:47 customers you already have by focusing
00:06:45 00:06:49 on these things i've been able to out
00:06:47 00:06:51 scale all of my competition and keep my
00:06:49 00:06:53 product running longer than any of them
00:06:51 00:06:56 and the reason is simple it's because i
00:06:53 00:06:57 can spend more to get a customer as more
00:06:56 00:06:59 people jump onto facebook and instagram
00:06:57 00:07:01 ads they're only going to continue to
00:06:59 00:07:03 get more expensive so this is more
00:07:01 00:07:05 important than ever before third thing
00:07:03 00:07:07 that i learned is that facebook is
00:07:05 00:07:09 constantly changing and in 2021 we saw
00:07:07 00:07:12 the biggest change to facebook that
00:07:09 00:07:14 we've ever seen with ios 14. ios 14
00:07:12 00:07:16 basically destroyed facebook's tracking
00:07:14 00:07:19 system which made it much harder for us
00:07:16 00:07:20 advertisers to scale our business and
00:07:19 00:07:22 right now making sure your ads are
00:07:20 00:07:24 tracking properly is crucial to your
00:07:22 00:07:26 success it doesn't matter if you're a
00:07:24 00:07:28 beginner still testing products or
00:07:26 00:07:30 running a brand making over six figures
00:07:28 00:07:31 a month you need to be tracking your ads
00:07:30 00:07:33 properly so there are many tools that
00:07:31 00:07:35 you could use to track your ads some are
00:07:33 00:07:37 extremely expensive some cost next to
00:07:35 00:07:39 nothing i'll share with you the one that
00:07:37 00:07:40 i use first hand and it barely costs you
00:07:39 00:07:42 any money so this app is called be
00:07:40 00:07:44 profit and i literally check it every
00:07:42 00:07:46 single day when i log into my shopify
00:07:44 00:07:47 store they give you a daily profit
00:07:46 00:07:49 calculator which essentially adds up
00:07:47 00:07:51 your cost of goods ad spend and other
00:07:49 00:07:53 expenses and then subtracts it from your
00:07:51 00:07:55 revenue to tell you exactly how much
00:07:53 00:07:56 money you made but the most important
00:07:55 00:07:59 thing that has helped me tremendously
00:07:56 00:08:01 with ios 14 is their utm attribution
00:07:59 00:08:02 once you set it up you'll be able to
00:08:01 00:08:05 clearly see exactly how much money
00:08:02 00:08:07 you're generating from each platform and
00:08:05 00:08:09 ad campaign with extremely accurate data
00:08:07 00:08:10 so if you want to check out be profit
00:08:09 00:08:12 i'll put a link to it in the description
00:08:10 00:08:15 down below so now let's tok about the
00:08:12 00:08:17 most important lesson i've learned so i
00:08:15 00:08:21 hate to say it but if you're not testing
00:08:17 00:08:22 you're dying this is by far the biggest
00:08:21 00:08:24 and most painful lesson that i've
00:08:22 00:08:27 learned along my journey in the
00:08:24 00:08:29 beginning testing is the most important
00:08:27 00:08:30 thing it's the only thing that will
00:08:29 00:08:32 allow you to find a winning product an
00:08:30 00:08:34 ad and finally make some money at the
00:08:32 00:08:36 start you have to test as many products
00:08:34 00:08:37 and ads as you can it's really one of
00:08:36 00:08:39 the only things that matters and the
00:08:37 00:08:41 reality is no matter how much money
00:08:39 00:08:43 you're making this doesn't change at all
00:08:41 00:08:46 you know when you're up and doing well
00:08:43 00:08:48 it can just be easy to kick back and let
00:08:46 00:08:50 your ads print money all day but i'm
00:08:48 00:08:52 telling you this is a critikal mistake
00:08:50 00:08:54 that i see so many people making and
00:08:52 00:08:56 i've been guilty of this as well at all
00:08:54 00:08:58 stages of your advertising journey you
00:08:56 00:09:00 have to remain diligent and keep testing
00:08:58 00:09:03 no matter what even if you're making 10
00:09:00 00:09:04 to 20 000 a day you still need to
00:09:03 00:09:06 constantly be testing new ads so that
00:09:04 00:09:08 way you can prevent yourself from dying
00:09:06 00:09:10 out this is really the secret to
00:09:08 00:09:12 maintaining a product for a long period
00:09:10 00:09:14 of time i've been able to sell the same
00:09:12 00:09:16 two products now for almost two years
00:09:14 00:09:18 and the biggest reason for this is that
00:09:16 00:09:19 we're constantly testing new ads though
00:09:18 00:09:21 in the last two to three months we
00:09:19 00:09:22 haven't been testing as much and as a
00:09:21 00:09:24 result we've seen a decline in our
00:09:22 00:09:26 performance so there is a direct
00:09:24 00:09:29 correlation between those two things so
00:09:26 00:09:30 moral of the story you must keep testing
00:09:29 00:09:32 no matter what stage you're at
00:09:30 00:09:34 especially when things are going good
00:09:32 00:09:36 because that is when it is the most
00:09:34 00:09:38 important by the way trying to learn all
00:09:36 00:09:39 this on your own can be extremely
00:09:38 00:09:42 challenging you have to learn how to
00:09:39 00:09:44 find products create ads write copy
00:09:42 00:09:46 launch campaigns as a beginner learning
00:09:44 00:09:47 all these things can get really
00:09:46 00:09:49 overwhelming so if you're looking for a
00:09:47 00:09:51 personal mentorship throughout the
00:09:49 00:09:53 entire process i've partnered directly
00:09:51 00:09:55 with beyond six figures to provide the
00:09:53 00:09:57 best coaching program in the game we'll
00:09:55 00:09:59 be taking you through six months of
00:09:57 00:10:01 personal mentorship that'll take you all
00:09:59 00:10:02 the way from starting to scaling to
00:10:01 00:10:04 turning your business into a long-term
00:10:02 00:10:05 brand so if you're interested in that
00:10:04 00:10:07 there will be more information in the
00:10:05 00:10:09 link down below i hope you found this
00:10:07 00:10:11 video extremely valuable if you did
00:10:09 00:10:13 please drop a like and subscribe i'm
00:10:11 00:10:15 dropping new videos every single friday
00:10:13 00:10:16 that's all for now i wish you the best
00:10:15 00:10:18 of luck in your advertising journey i
00:10:16 00:10:20 hope you have a great day and i'll tok
00:10:18 00:10:23 to you very soon
00:10:20 00:10:23 peace
00:10:24 00:10:28 [Applause]

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