In this topic iam going to be teaching you how i’ve 5x personal results and results for clients using one piece of data that takes about five minutes to actually analyze And implement without further ado, let’s start.
So what i’m going to be doing here is actually using sample data from one of my ad accounts. Please replace my data with your data in order to accurately assess where you’re at and how you can improve to 5x 10x 20x.
Your results so for this example, we’re, going to start out by laying out our ad spend. We’re going to say we spent 100 on ads. Next, we need our cpm, which is the cost that facebook charges us to show our ads a thousand times it’s, the cost per 1000 impressions.
In this example, let’s use 10. If i spent 100, my cpm was 10. That would mean the amount of impressions i had was 10 000 impressions. Next, look at your link. Click through rate do not make the mistake of looking at your ctr.
Make sure it says, link ctr, the difference is click through rate counts. Anyone that’s ever clicked. Like clicked comment, click play anyone that’s, clicked on your ad gets factored into the ctr. You want the link ctr, which means the amount of people that actually click the link to visit your website.
In this example, let’s say it was a one percent link, click-through rate. If we had a one percent lean, click-through rate, that would mean 100 people visited our website next go ahead and go to your shopify analytics and grab your conversion rate.
For this example, i’m, going to abbreviate conversion rate with cr and say we had a one percent conversion rate. So what does this mean? This means we had one sale and let’s say that our sale was a hundred dollars.
A little bit of a higher priced item, which i’m, always recommending to the students in full-time econ, so we had one sale with this set up right here. So let me ask you a question right now: do you notice anything specific about how we can five extra results with not too much work involved out of all of this data? Do you recognize the one piece of the data that we have full control over? If not well, let’s break that down right here.
So this is how to 5x the results that you see on this side right now. So once again let’s. Keep all these numbers consistent a hundred dollars in ad spend because we don’t want to spend more to generate five times more results.
We just want it to happen. So a hundred dollars in ad spend our cpm doesn’t, get lowered, it’s still ten dollars. We still have 10 000 impressions and i highly recommend doing this with your own numbers in real time.
10 000 impressions and those are the controls that facebook has right, because we can’t manually modify our cpm um. We can control our ad spend, but cpm is in facebook’s.
Control and it’s, going to result in 10, 000 impressions if we spend 100 so now we get into the part where we can actually 5x. These results here’s. What i want to ask you: let’s, work backwards, so sales.
If we were to 5x these results here. This would be five sales and five hundred dollars in revenue. So now we need to look at this last pieces of data to to figure out. How can we 5x, how can we go from one sale to five still maintaining a hundred dollars in ad spend? You have to use your link click-through rate and let me show you how this works and i’m, going to explain how you can actually make this change.
But first i want to show you how the data works. So let’s say we improve our link click-through rate to five percent. This is going to result in 500 users. If we don’t, do any work on our website and we still just maintain that lower one percent conversion rate.
It is going to result in five hundred dollars in revenue and a five x improvement literally by one metric, by improving our one percent click-through rate to the five percent we 5xed our revenue. So how do you actually go ahead and 5 x? Your link click-through rate? It’s, not that difficult.
Let me break down exactly how to do that right now, so to 5x, your link ctr here’s. What you need to do. First, you need to improve your creative 100. The most important aspect is to improve your creative.
So how do you improve your creative? You split test. You split test, your the video or the image. You split test, your copy, your headlines, you split test your thumbnails and you continue to do this process.
I can launch a split test in about three to four minutes now on facebook ads it’s, actually very easy to split test creatives and what i usually see is. I can take a one percent, click-through rate up to about a three with five to ten minutes of work, building out the split testing campaigns.
I then take that three percent to a five percent, and now that one percent that was driving a hundred dollars in revenue off of one sale is now generating 500 off five sales. It’s truly as simple as that by improving your link.
Click-Through rate from one percent to five percent and maintaining a one percent conversion rate which isn’t that difficult you can 5x. Your results focus on link click-through rate, improving your creative, getting people over to your website, and you’re, going to see a tremendous improvement in your results.