Eric DeeranOne mission — help agency owners build businesses they actually love running.

I spent $1.6 million and here are the three things I learned

6 Apr 2024 · 1 min

Watch on YouTube

1:00

Short YouTube video by Eric Deeran (Master Filmmaker) reporting lessons learned after spending $1.6 million of personal money on Facebook and Instagram ads. The speaker highlights three core learnings: (1) 'offer is king' — the product/offer must fit the market and be scalable; (2) 'sales is queen' — a repeatable sales process is required to convert leads into revenue and scale hiring; (3) 'follow up is critical' — roughly half of sales come from immediate purchases and the other half from follow-up/back-end systems. The speaker also references a screenshot of his ads account as proof of spend.

Chapters

I spent $1.6 million on Facebook and Instagram ads for my businesses. And here are the three things that I learned. And before you ask is this guy actually telling the truth? Here's a screenshot of my ads account of the lifetime spend of just my own personal money. So the three things that I learned is number one, offer is king. You have to have the right offer for your market for it to actually work on ads. This is having a scalable offer. If people don't innately like what it is that you have to offer, then it's going to be really difficult to get them to purchase it. Number two, sales is queen. You can get all these leads, but if you're not converting those leads into sales, then it's extremely difficult to make an ROI or return on investment on the actual ads that you're spending money on. Pretty obvious, but you need to have a repeatable sales process. So then you can also hire other people to take sales calls for you. Otherwise you just buy yourself a full calendar of sales calls and you have no time to do anything else in your business. And number three, follow up is critical. What we found after spending $1.6 million on ads is that you'll get about 50% of people to buy up front and then the other 50% of your sales is going to come from follow up and back end systems and processes. This means you need to have your follow up.