If you’re in marketing, business, an entrepreneur – you will know too well that the iOs14 update and the global pandemic have had repercussions on our industry! But Smart Marketer’s Molly Pittman and John Grimshaw are here to help! Their team has just completed a massive Industry Report, pulling data from 30 different businesses with a combined total of $57 million in Ad spend on Facebook. Listen today if you want to hear what the data shows, get the big takeaways, and see where you stack up (based on business types most similar to yours).
In this episode (Part 2), you will hear the Key Takeaways on two of the four most important metrics for paid traffic success: Cost Per Click and (the big one) Return On Ad Spend.
“It is not the end of the world as we know it. No, it’s just a little bit more complicated, and that’s why the best marketers will continue to get better. Those of us that are willing to invest in this that are willing to figure out workarounds – we will continue to win.” Molly Pittman.
You will learn:
- Which business type has it best on the current Facebook Ads Platform.
- Campaign settings that the top-performing brands all had in common (that will both decrease your CPC and increase your ROAS).
- What your Ad MUST do if you want maximum returns.
- What YOU can do to counteract the loss of data on the Facebook Ads platform.
“People still be shopping! I mean, people want to go buy those sneakers, right? Nobody said, Hey, you know what? Let’s just stop spending money as an entire world population. No. The Spend is still happening” John Grimshaw.
Be sure to dive into episode 70 if you haven’t already (Part 1) and hit SUBSCRIBE or follow on Apple Podcasts to get Part 3.
Molly shares about the upcoming Mentorship, ‘TMTP,’ which you can join here:
Train My Traffic Person, https://landing.smartmarketer.com/pages/tmtp-mentorship/
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0:00 “It is not the end of the world as we know it. No, it’s just a little bit more complicated, and that’s why the best marketers will continue to get better. Those of us that are willing to invest in this that are willing to figure out workarounds – we will continue to win”. Molly Pittman.
03:27 Key Metric #3, A good look at Cost Per Click.
04:37 “Cost per unique outbound click is the absolute best metric to really get a handle on what does it cost to drive a visitor to your website?” John Grimshaw.
05:27 What does the data show when we look at Overall Unique Outbound Cost Per Click by year?
08:51 “We’ve essentially isolated that three of these key metrics have very, very little to do with the negative changes we’ve seen in our ad performance.” John Grimshaw.
09:21 A look at Cost Per Unique Outbound Click by year by business type.
10:58 Key Takeaways from Cost Per Click.
13:28 “Some more findings when we’re looking at businesses that had a lower cost per click, and that had the highest ROAS: Most of them utilize the detailed targeting button at the Ad Set level. This is a button that we haven’t traditionally used in the past.” Molly Pittman.
14:07 More commonalities amongst top performers that you can easily adopt.
15:35 Key Metric #4, Return On Ad Spend. “This is everyone’s favorite metric. This is the discussion that you’ve all been waiting for.” Molly Pittman.
16:46 One of the best ways to increase your Return On Ad Spend.
18:13 “A really important part of this y’all is to make sure that you aren’t just relying on the ROAS that you see in ads manager – because it is probably not correct.” Molly Pittman.
20:57 “People still be shopping! I mean, people want to go buy those sneakers, right?
Nobody said, Hey, you know what? Let’s just stop spending money as an entire world population. No. The Spend is still happening” John Grimshaw.
22:21 A look at ROAS by year by business type.
24:11 Key Takeaways from Metric #4, ROAS.
24:53 Solutions? Click Database Tools (and more).
31:51 Do everything you can to Increase Average Order Value!
33:28 Let’s talk about Objective.
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