How Much Do You Really Need to Spend on Facebook to See Profits?
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.
Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.
EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.
Click here to become a part of this growing video network.