FWEP00052 Brendan Yong
In this episode Brendan Yong will share about how to maximize Facebook profits. He is the Lead Consultant of Skill and Marketing to help customers do marketing automation. Today he will share the 3 Secrets to Maximizing Facebook Profits. Social Media Marketing and Wastages
Every entrepreneur nowadays is doing social media marketing. But not everyone gets the result that they expect. Here’s what Brendan has to say: (01:34
) A lot of people are really doing some form of Facebook marketing or social media marketing or even SEM marketing (01:42
) What is happening is actually you're getting a lot of eyeballs (02:16
) the truth is a lot of things happen along the way and what happens is that, although you might have a lot of eyeballs but not many of them actually take the action of submit or make an inquiry. (02:31
) that is what we call a lost traffic situation (02:38
) So the other thing is once they buy or once they opt-in into your funnels then the other thing is how do you convert them into actual sale (02:47
) This is what we call the drop-off so before they even buy they do not respond to your sales pitch and eventually they drop off (03:01
) Once the customer buy once you don't do anything with them later on Why? Because these customers have value to you and this is what we call the customer life value. (03:15
) You should optimize this customer life value as well because you spend so much money in drawing the eyeballs to your website and through your e-commerce polls and then you're not maximizing the value per customer? I think that's a big waste. What happens if you don't convert?
Here Brendan further explains why there is no conversion despite the many views your Ads might be receiving: (04:48
) You're targeting at a wrong phase of the marketing funnel (04:51
) A marketing funnel typically has 3 stages (05:07
) These stages are called Top of the Funnel or ToFu and MoFu Middle of the Funnel and you have the bottom of the funnel. (05:24
) Bottom of the funnel means that people are already in a decision-making process and they already reached the stage that they are thinking which solution should they buy. (05:38
) The middle of the funnel group, they know about the solution but they may not be in a decision to buy yet because maybe they're short on budget. (05:51
) And the top of the funnel are people who may not even know that they have a need or is not a top priority for them. (06:52
) No wonder that a lot of you may have a lot of traffic but don't actually convert, because the audience is simply not ready (07:02
) It's because your Ads are BoFu Ads but you're getting ToFu leads or MoFu leads (07:11
) To improve your Ad conversion you might need different versions of those advertisements that you do. (07:21
) To appeal to ToFu leads is that you are trying to solve a problem. The Ads in this phase is what we call a problem-related Ad. (08:50
) Now the MoFu Ads you are trying to run ads that is related to debunking all the other alternatives and trying to tell the audience why your product is the more superior solution. (09:03
) And in the BoFu Ads you are looking at, like free trials $20, $50 discounts and all that. (11:13
) By moving the audience that clicked on your different Ads back to another, previous part of the funnel that helps you to narrow down and convert them slowly so that when they are ready to buy they will be thinking of you because you appeal to the right motivation. 3 stages of the customer journey
So here are a few more details from Brendan that will help you understand your customer’s journey in order to effectively target them:
(12: 11 - 12:15
) The first stage is what you call attract. So in the attract phase we identify the right target market. (12:24
) After that bring them into somewhere that you can capture their information like name, email. So that will be the Top of the funnel kind of ads and middle of the funnel engagement ads.
) And finally look at how to move them into trial product using your free trial method or using your free consult method.
) Wastage can happen, if you don’t have these process to capture the middle or final you don’t have enough communication with them once they get into your sales funnel and of course when they actually make an inquiry that don’t immediately turn up into a sale, you don’t follow up with them. So that’s a lot of wastage so that is the second phase.
) The sell phase is not literally you trying to sell but how do you convert a lead to a sale.
) Here is where email marketing and videos and YouTube videos will help a lot. (16: 24 - 16:27
) So the first step about maximizing customer value is really to create a “WOW” experience for the customer.
) When that happens you can achieve 3 Rs.
) The 3Rs are: REPEAT SALES, REFERRALS and REVIEW AND RATINGS Key Takeaways:
1. Maximize your sales funnel.
2. Target audience using the correct ads for maximum results.3. Provide superb customer service.
4. Do immediate follow up.
5. With the use of the 3 stages of the customer's journey you will see leads coming in. Key Resources:
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