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How Much Do You Really Need to Spend on Facebook to See Profits? Take a closer look at the numbers while advertising on the social platform.

By Scott Oldford

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Scott Oldford talks about how you can make Facebook ads work for your business, depending on your goals and budget. Managing the finances of your business is part and parcel to running ad campaigns. Olford estimates that, to achieve any profit, you should try to get one person out of 100 potentials. This means you should aim to get one person to buy a product online out of 100 people. To see results from your marketing, you should aim to spend 10-15 percent of your budget.

If you're wondering why you're not seeing profitibility, consider that you may be operating in an area that is not overly competitive. If the focus of your business or the geographic area of your business is too niche, this may be time to reevaluate your marketing strategy. When you do opt to change direction, make sure you're not playing around with your luck. Oldford recommends always thinking with reason and avoiding falling into the trap of "hope marketing."

Click play on the video to hear more about advertising with Facebook.

Related: Focusing as an Entrepreneur Is All About Choosing Opportunities Wisely

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Scott Oldford

Entrepreneur Leadership Network® Contributor

Mentor, Advisor & Investor for Online Entrepreneurs

Scott Oldford has helped build and scale countless 6, 7 & 8-figure online businesses in the education, certification, coaching, consulting and courses niche.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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