MBA2321 Why Retargeting Ads Are a Must if You're Struggling With Sales + Free Ride Friday

0:09Heyo! Welcome to the$100 MBA show, business truth, delivered on a silver platter to help you grow your business. I'm your host, your coach, your teacher, Omar Zinhome. I'm also the co-founder of Webinar Ninja, an independent software company I started back in 2014. And today's episode is Free Ride Friday. On Free Ride Fridays, we give away a lifetime membership to one of our programs. If you want to win a free ride to the$100 MBA, where I break down the essentials to become successful as an entrepreneur, just leave us an Apple Podcast rating and review, and you enter our weekly random draw. Listen in on Friday, just like today, to see if you won.

0:44We announce this week's winner a little bit later in the episode. In today's episode, you will learn why retargeting ads are a must if you're struggling with sales. Retargeting ads are the most low-hanging fruit out there when it comes to converting more customers. And I'll explain why and how to get started. If you're frustrated with running paid ads and not getting a return on investment, This is the easiest way to get an ROI because you're not trying to convert cold customers. You're converting warm customers, people that are just about to buy. And this gives them that nudge they need to make that decision and pay you money.

1:22Don't worry, it's not that complicated and you don't need to spend a fortune. In fact, I actually recommend you get started with just$5 a day. So let's get into it. Let's get down to business. If sales in your business are slow, most likely retargeting ads are gonna help you get the boost you need. If you're not familiar with retargeting ads, it's ads that you will show to people that have been on your website or are familiar with your brand. I'm sure you've noticed this before where you went to a website, went to an online store, and then saw ads for products on that store or an offer of some sort on Facebook or Instagram or other social media sites.

1:57You might think, hey, this company's following me. Well, in fact, it's not exactly that. What happens is that when you go to the website, Facebook gets a signal because the owner of the website, the business owner, put a little tracking pixel, put a little piece of code on the website so it can communicate with Facebook or Instagram or whatever ad tool somebody is using. It lets them know that, hey, this person with this IP address has been to my site. And then with a retargeting ad, you're only showing ads to people that already know your brand, already have been to your site. And those ads get displaced to them while they're surfing social media so they can be reminded of your business and your brand and even your product and your offer.

2:38Now, the reason why I highly recommend that you do retargeting ads if you have slow sales is because it's the lowest risk, highest reward type of paid advertising. Why? Because this person has some idea about you. They already know about you. They've been on your site. They've heard of your brand. They're not totally a stranger. They're not a cold lead. really sophisticated paid marketing professionals, they really know how to build a whole marketing funnel and a whole marketing strategy to make people aware of your brand through ads and then become warmer clients and then send them more ads. This takes a lot of expertise, a lot of experience, a lot of different kinds of ads and ad sets and audiences, all kinds of stuff to be able to take somebody who totally has no idea who you are and make them a customer through paid acquisition.

3:28What I'm saying is that forget all that. You're not at that level yet, maybe, or maybe you can't afford to hire somebody to do that for you right now. But what you can do and you can afford is run retargeting ads. They're the cheapest way to convert warm leads. And you're leaving money on the table right now. People that already know about your business, that are shopping around, that are probably looking for other alternatives or looking at your competitors. and if you're not retargeting them, if you're not sending those ads, they're not gonna be thinking about you. They're not gonna have you top of mind.

4:00They're not gonna have a reason to buy and we'll talk about what kind of ad you should craft when it comes to retargeting. What I found is that by just running retargeting ads, even on a low budget with your business, this can give you really, really good results. I'm talking about an increase of 10 to 15 to even 30 % sales just by running retargeting ads. This is of course from my own experience and I haven't seen yet retargeting not work. Even with all the changes on the Facebook algorithm and iOS 14.5 and all that kind of stuff, retargeting still is a solid way to get more customers to buy.

4:33So how do you do it? Well, this is my recommendation. The first thing you do is you go into Facebook. Why Facebook? Because I think that Facebook, which also owns Instagram, so you can run Facebook and Instagram ads at the same time, is the easiest way to retarget. It's the easiest way to set up this campaign. You can do this as well on other platforms like YouTube, but it's a little bit more complex. Let's keep it simple. Let's get an ROI. Let's get some sales. So we're going to go into Facebook. Go to your Facebook account. You're going to go to the business manager. If you don't have a business manager account for your company page on Facebook, just YouTube it, Google it.

5:11It's actually very easy to set up. It's a couple of clicks and you have a business manager. And in this business venture, you're going to have an area where it's called the power editor or where you edit your ads. You're going to go into there and you're going to start creating some audiences. Right now, all we're going to worry about is creating one audience, actually, and it's website visitors. It's actually quite simple. Facebook tells you all the choices. You click create audience and it gives you all these different choices, lookalike audiences. And one of them is website audience. Just choose that.

5:40It's going to give you a pixel to install. And it's very easy. It's a small snippet of code you're going to install on your whole website. It's not really a code that's seen visually. Just contact whoever is managing your website or even your website hosts. You've got a WordPress website or a Squarespace website. Go to customer service. Say, hey, I want to install a Facebook Pixel. Here's the Pixel. Can you help me out? Pixel, again, is just some code and they'll do it for you. It takes five seconds. It's just copy and paste. That code is now on your site and that means Facebook is talking to your website.

6:14It knows when somebody's there. In fact, inside your audience builder, it will give you like a green check mark to say, yep, we see the pixel. It is tracking. That's it. You set up your audience. Now Facebook knows your website, can track visitors, and can send ads to those people with the same IP address and you're good to go. Now you're going to create your first ad. Now Facebook has all these different kinds of ads. You can do images. You do a slider. You could do video. You could do all of these, but I recommend you do video. Video converts very well on Facebook and Instagram. So let's keep it simple.

6:47Let's just get started. And you're going to create three videos. We're going to get to the videos in a moment, but let's just know that we're going to create three separate videos to promote some offer. And we're going to talk about that offer in a second as well. Don't worry, we're going to get there. But the way ads work in Facebook is you're going to create ad sets. And this kind of separates the ad set so you can know what audience is working. You don't have to worry about all the different ad sets. We're going to choose one ad set right now. We're going to create one ad set and make the audience for the ad set website.

7:16So it's retargeting ad. And then in that ad set, we're going to create three different ads. Why are we doing this? Why are we creating three different ads, three different videos, three different copies in the ad set? Well, because the way marketing works is that we don't really know what works. It's really an experiment every single time. So it's good to know and give the program, give Facebook choices. And you want to see what is working and what's not. And Facebook will automatically optimize for conversions and choose the ad and the copy that really works well and what gets clicked on. So you want to give it choices so that way you have a higher likelihood of converting.

7:52So we're going to get three different videos and three different pieces of copy that go the video. This is just basically some text, some snippets that we can say what the video is about and why they should take on this offer. So what is this offer and what are the videos are going to be about? Well, very simple. We're going to get into that in a second. Okay, let's get into the actual videos themselves and the offer. Now you have to remember, these people that are seeing these ads, they've been to your website. They know about you. They know what you offer and there's a good chance they know about your products and services, how much you cost and all kinds of stuff.

8:24What you want to do here is give them a compelling offer to come back to your website and take action. Now you have a couple of options, and this is why the three videos are a good idea. One, you can give them a straight up discount so that they have a compelling reason to buy now. Two, you can get them to opt in, meaning give their email address on a page on your website so they can get some sort of bonus or something free. Or my favorite, which is the third thing, which is an opt-in to a discount. So basically you say, hey, get 20 % off your first three months of product X. Give us your email address and will send you a coupon code you can use.

9:02Now, why do I love this the best? Because one, it gives me their email address. That means they're on my email list. I can nurture them. I can follow up with them if they don't buy. They then get this coupon code that should expire in a short period of time to get them to take action. If they buy, fantastic. If they don't buy, I can then continue to send them email automations in my email marketing software and continue to, guess what? Retarget them because they haven't bought yet. And by the way, we're going to retarget everybody that goes to our website or on our email list eventually until they buy.

9:36You want customers, okay? And this is very easy because they're familiar with their brand and you're able to speak directly about your product, about the offer that you're making. So you're going to create three ads. You're going to create three sets of copy to go with the video. And this video can be very, very simple. This is basically talking to the camera, face the camera. You can use your iPhone, your smartphone. You shoot the video portrait so it works well with Instagram. And basically, this is just a video explaining why this is a great offer and why they should take it. It's compelling about this offer and how it will impact them in a big way.

10:10You want to subtitle these videos so that there are texts on the video nice and clean. That way they can see what's going on without having the volume up. And you want to keep these videos compelling, but reasonably short. I like to keep them about two, three minutes maximum. I want to give them incredible value and show them how the next step of my offer can allow them to give them momentum and be able to build upon what they learned on that video. You're going to upload all this stuff, your videos, your copy to your different ads. In the ad set, you're going to tell Facebook, hey, run this ad.

10:43And Facebook is going to ask you how much you want to spend. And you can just set a daily budget. If you are on a tight budget and you just want to experiment, you've never done this before, just set it for$5 a day. Now, remember, the lower the budget, the slower it's going to take to convert. But$5 a day gives you enough momentum. That's$150 for the month. At the end of the month, see how many conversions you got. And what's great about Facebook is that it will tell you the conversions as long as the pixel is on the pages, all the pages of your website, including the pages they see after they buy.

11:14and you can tell Facebook, hey, this is the page, the confirmation page, the URL of the page that they see after they buy. This then tells Facebook that somebody bought, they can match up that IP address with somebody that got an ad and say, hey, we sent them an ad, we put an ad in front of them, they bought your product, you got a conversion. And then at the end of the month, you could say, hey, I spent$150, how many conversions did I get? You can imagine, even if you got one or two conversions, depending on the price of your product or service or your offer, it's gonna be worth it. And then from there, you can up the ante.

11:46You can increase your budget slowly. Now, remember, depending on the traffic of your website, how much traffic you get, you're going to exhaust the audience at some point. Meaning, let's say you get 300 people that come to your website every single month. Well, Facebook is only going to send those ads to those 300 people when they're on Facebook or Instagram. But the more traffic you have, the wider and the longer this ad will be able to run because there's more people to serve it to. Now, remember, Facebook wants you to win. They're going to do everything to optimize this ad and serve it to the right people so you can get conversions.

12:17And that's why you got to make sure when you're setting up your ad to set it up to optimize for conversions. It will ask you and you'll just say conversions. I want to optimize for conversions, not per click or anything else. I want per conversion so I can know that, this is the ROI on my ad. Remember, our point here of retargeting is taking people over the edge. We don't need to make them aware or send them blog posts or anything like that. Right now, they're buyers really, and you're giving them an offer. You're giving them a way to get a special offer, to take them from on the fence to off the fence.

12:50Now, my advice when it comes to this is make it an entry-level offer. Remember, this is a first-time customer. They haven't bought from you yet, so you want to make sure that you get them with your lowest price product, your lowest price plan. So for example, in my software company, Webinar Ninja, I'll be running ads for our basic plan that starts at$29 a month. It's a very, very low cost offer. Even the yearly is$290. It's low cost. And I just need them to become a customer so they can win with my product. They can enjoy it. And then now that they're a customer, they're on my email list, I can nurture them.

13:25I can give them value. I want to get them some wins. And then they can add on, upgrade, buy other things from me. The reason why I love retargeting so much is because it really is low effort. You don't really need to optimize it much. The audience is not going to really be tweaked because it's just people that have been to your website and you're not advertising the people that are not interested. These people are interested. They're buyers and it just makes them into buyers, makes them into customers more frequently because you're getting more brand awareness. They're seeing you everywhere and they have a compelling reason to buy with your offer on the ad.

13:59Now, this is just the basic level of retargeting. I made it super simple so that you can just get started. Now, there's levels to everything, and you can combine audiences, do lookalike audiences with your email list. You could do retargeting for people that have visited your Facebook page or liked your page or interacted with your page in any way. There's a lot of ways you can geek out, but just start with your website retargeting. Get an ROI, get some more sales, get some wins, and feel confident that, hey, you can run some ads on Facebook and Instagram that make you money. Thanks so much for listening to the$100 MBA show, but today's episode's not over.

14:32It's Free Ride Friday. Let's see who won this week's free ride. And the winner is Maresh. Maresh says, On Apple Podcasts, great concise format, five stars. Business podcasts are usually way too long. Not Omar's. Omar gets to the point really fast. Appreciate the work that goes into being concise. It's not easy as it sounds. Thank you so much, Maresh, and appreciating and recognizing the fact that it does take some time and planning and work to make these episodes bite-sized. You are our Free Ride Friday winner. Your mission is to email me over at omar at 100mba.net so we can hook you up with a lifetime membership to our$100 MBA program that delivers six modules to help you know the fundamentals of how to be successful as a business owner, 100 % guaranteed.

15:16If you want to order a free ride, just leave us an Apple Podcast rating and review and you enter our weekly random draw we call Free Ride Friday. It's that simple. Thank you so much in advance for doing that and for subscribing to the show. Before I go, I want to leave you with this. Some of us, we don't try things because they seem way too complicated. And in a lot of ways, paid advertising can get complicated, but there's always the simple version. There's always the entry-level version. There's always just getting started with what works. And that's what I wanted to do today, give you something that you can just get started with and get a return on investment.

15:49And then you can go ahead and geek out a little bit and learn a little bit more. But get a win first. And paid advertising is a great way to supercharge your sales. Thanks so much for listening, and I'll check you in Monday's episode. I'll see you then. Take care.

16:25Thank you.