Subscribe to Entrepreneur for $5

How To Turn $5 into a New Customer on Facebook

Opinions expressed by Entrepreneur contributors are their own.

There are only a few things $5 will buy these days: a cup of coffee at my favorite overpriced coffeehouse, a bonus tip to reward an Uber driver's smile. Maybe a foot-long sub at a somewhat image-troubled sandwich shop.

NuOilSuwannar / Shutterstock

Related: How to Save at Least 2 Hours Per Week on Social-Media Marketing

Dare I say that an acquisition even better than the one for my slow-roasted addiction (with a little pump of pumpkin) is a sale? As in, a sale that puts  in my pocket from a $5 investment.

Yes, believe it: By following the formula for success I lay out below, you can drive qualified leads and sales directly to your , via . So, here is that success formula, broken down by the letters of the acronym, M.O.M. (because Mom knows best of course).

M: Magnet

Create your Facebook Page, messaging and ads to be a magnet for your perfect prospects and to repel all others. You don’t have time for nonbuyer shenanigans. Instead, use a content-rich article to attract qualified buyers. Since Facebook charges less for clicks and more for opt-ins, the goal here is to weed out the unqualified with the cheap stuff. In other words, don’t serve filet mignon at the annual community potluck.

O: Opt-In

Re-target those that visit your blog (a.k.a. your qualified leads) with an incentive to opt in. Offer a free resource, such as an ebook, report, webinar or $1 offer to make the first step of your monetization a means to collect their contact information. Give your prospects a good reason to give you their contact information so you don't have to pay to reach them again. It's important to get their information fast, because you never know when Facebook's rules will change.

M: Monetize

By now, you will have given your qualified leads value-ads and earned the right for them to show you the money. Naturally, this step will vary greatly depending on your business structure. The right strategy may be as simple as selling a trial membership online, or perhaps focusing your sales funnel on getting someone on the phone to book an in-home appointment or sales consultation. Or perhaps you want to persuade this prospective customer to come into a doctor’s office for an appointment. Sell where it makes sense: The leads may from Facebook, but the sale generally happens in another channel.

A great example comes from one of our own medical clients, a business that offers women gynecology and minimally invasive surgery services.

Related: 3 Steps to Boost Your Social-Media Marketing With Image Tagging

The first step in our M.O.M. formula was to run ads on blog posts about women’s health. Viewers who clicked on the ads and visited the website were re-targeted with ads requesting that they schedule their annual exam. Our thought process was that those who were thinking about their health were more likely to schedule an appointment.

The results showed our thinking was on track. We were able to get appointments scheduled through the ads for less than $10 per patient. If this can work for booking a gynecologist appointment -- which most women dread -- then it can work for you.

Value first, sell second. Think: M.O.M., because mom knows best. 

Related: How to Make Time for Social Media Marketing

Entrepreneur Editors' Picks