MBA1578 Guest Teacher – Erin Corn – How To Succeed With Paid Social Ads

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Visit Dell.com deals. Hey O welcome to the Hundred Dollar MBA show, the business podcast that packs a punch every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online and today's episode is a guest teacher episode. On our Guest teacher episodes we bring on an expert to teach their area of expertise. Today we have Erin Korn and she'll be teaching you how to succeed with paid social ads, specifically Facebook and Instagram ads. Paid marketing can really pay off big. Especially now paid ads on platforms like Facebook and Instagram are at an all time low in terms of costs. So it's a great time to get started. But how do you get started? Well, well, Aaron's here to teach you how from setting your goals to tracking your results to making sure your ads are on brand. Lots to cover in this guest teacher lesson. So let's get into it. Let's get down to business. Today's guest teacher, Aaron Korn has worked in companies like Facebook, Amazon, Instagram and she wants to share with you what works when it comes to paid ads, how to do it right, the fundamentals. She actually focuses on performance marketing to make sure that you get the biggest return on investment with your paid marketing. A lot of people are tentative to put money down on paid ads on social because they're not really sure how well it will do. It will actually result in sales. Well, Aaron is actually talking about how you can track that and make sure you're getting a return on investment and you could start slow and only reinvest when you see a return. I'm going to pass it on to Erin to teach her guest lesson, but I'll be back to wrap up the episode and share my takeaways. But for now, take it away, Erin.

Hi, I'm Erin Korn, founder of Shorebird Media, a social media advertising consultancy. Thank you for joining me today. Today, I'll be sharing the essential elements of a successful Facebook and Instagram advertising strategy. Let's dive in. The first element focuses on goal setting. Before starting any marketing campaign, you need to clearly define your goals. Deciding on what you want to achieve at the beginning of a campaign makes it easier to measure and analyze your without goals and associated metrics, you won't be able to determine if your efforts are actually effective. Determining your Facebook ad goals is a simple process. Just ask yourself, what do I want to achieve as a result of this campaign? Your advertising goals could be driving more sales, increasing brand awareness, building an email list, or increasing engagement with your brand. Your goals should have a direct impact on your company's growth and success. Make sure you select goals that contribute to the bottom line and not vanity metrics like pay the bills. Some examples of advertising goals to avoid getting 5000 likes on my last post gaining 100 new followers. These ad metrics do not reflect any tangible results and shouldn't be perceived as Facebook advertising goals. The second core element to an effective paid social strategy is tracking and measurement. In order to effectively measure the results of your paid social activity, it's essential to install the Facebook Pixel. The Facebook Pixel is a piece of code that allows you to monitor how successful your Facebook ads actually are, giving you more accurate stats, and it also allows you to create new audiences based on site traffic. For example, you can target previous website visitors or create audiences of new people who look like purchasers on your website. It's equally important to have analytics in place to track your overall digital activity. The Facebook Pixel will track your paid social efforts, but not your other channels like email marketing and Google campaigns. I recommend starting with Google Analytics. Google Analytics is easy to implement and more importantly, it's free. It provides valuable insights that can help you understand your customer's life cycle and shape future marketing decisions. All you need is a Google account. Speaking of your customer lifecycle the third element to a successful paid social strategy is a well developed audience. The core of effective social media marketing is about speaking to a specific audience. Audience Personas provide a deep look at the demographics of your audience, including their interests, fears, needs and behaviors. Many advertisers confuse an audience Persona with a target audience. These are not the same. For example, a woman's apparel company may define their audience as females 25 to 40 in the U.S. however, this only captures the audience's demographic. To further develop the audience Persona, I would recommend that they include their target audience's motivations, lifestyle challenges and behaviors. For content marketing purposes, you need a well defined Persona to help you deliver content that will be relevant and resonate with your audience. So how do you get started creating Persona or Personas for your business? There are endless templates available online, but I'd like to go through some of the key attributes to consider when developing a Persona or in some cases, multiple Personas for your business, starting with job title details about their role demographics, including age, gender, salary, education, family status, their hobbies and lifestyles. Goals what are their primary goals and how will your business help them achieve them? Challenges what are their challenges and how will your business help solve those problems? What are their personal values? And finally, what are some common objections to engaging with your business or brand? Facebook and Instagram have a wealth of targeting options available to advertisers, which include demographics, interests, custom audience based on your CRM or pixel data, and lookalike audiences to help you reach new people whose interests are very similar to those of your customers. Your audience Persona should inform the targeting that you select. That brings us to the fourth element. You've chosen your goals, implemented, tracking and established an audience. Now what? It's time to determine the type of content you want to represent your business or brand. Whether you're developing organic or paid content, it's key to maintain a cohesive look and feel across your channels. Your images and videos are the first thing potential customers will notice when they see your ads and visit your business's profile. The colors, tone of voice and imagery all contribute to an aesthetic that will form your business's identity. One step advertisers often skip is aligning their content and messaging to the marketing funnel. The four stages of a funnel should include awareness, consideration, conversion, and loyalty. As you develop your content and messaging, Be mindful of the stages in a marketing funnel. The way you speak to a customer who is unaware of your business should be very different than the way you speak to a previous customer. I often use dating as an example. If someone has never met you, you don't walk into a room and ask them on a date. However, this often the way advertisers communicate with potential customers who have never heard of them. Starting the conversation with price points and discounts rather than demonstrating their value does not make an effective marketing message. The final element of a successful paid social program is actually your other marketing channels. These marketing channels can include website, email marketing, search engine optimization and search marketing amongst others. Whether you're a service based business or or a direct to consumer brand, your business likely depends on other marketing channels to achieve your desired results. The most successful social media campaigns are part of an integrated marketing strategy. Your social media should support your larger marketing strategy and likewise other efforts should enhance your social media advertising. This is Erin Korn and thank you for taking the time to learn more about paid social advertising. If you want to continue to learn more about Facebook and Instagram advertising, please please visit my site at www.shorebirdmedia.com to receive instant access to a comprehensive advertising guide. In this guide you will learn how to align your goals with objective and ad types on Facebook, different messaging strategies by audience, and creative best practices on the platform. Please don't be a stranger and feel free to shoot me a note on Instagram shorebirdmedia For delicious meals you could.

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Aaron Korn's guest teacher lesson today was rock solid for many reasons. Number one, she laid out a simple plan for you to get started with Facebook and Instagram ads. She touched on something very important and that's making sure your ads are congruent with your brand and where you're leading your customer. A lot of people create a jarring experience with ads or ads look one way and then their website where they're leading them to looks like another. Another thing I want to emphasize is that you have to really understand what you're buying when you're buying ads. Be very clear about what you're looking to gain. Everybody's end goal is to get a customer right? And the customer's value is X amount of dollars, whether their average purchase price is, let's say, $100. So you know that this customer's actual value is $100 to you. So you want to spend obviously less than $100 to get that customer. Now whether that is now whether you do that through a funnel and you give free content and you get them to opt into your email list and that email list has some automation and an offer that might be a lot more cost effective because your cost per acquisition or your cost per conversion on the ad is going to be lower if you're offering something free versus if you're trying to just sell them straight to your website, to your product right off the ad. That typically does not work well with Facebook or Instagram ads. Different story with Google Ads because people are actually searching for those keywords and they're not being displayed an ad on their feedback. So keep in mind, yes, you want them to buy, but how can you get them to buy over time? Through a sequence of emails, through a funnel. And it's all a numbers game. If you are going to spend, let's say $1,000 on an ad and it costs you $5 to get someone to opt in to a free course or something where they give their email, that means you're going to get 200 opt ins with $1,000. How many of those opt inside can you convert into a customer for you to make it worth it? If you're using the example where the customer's average purchase is $100, that means if I get 11 customers out of the 200 on that email list that opted in, I made $1,100. I made a profit from that ad. Obviously, the more the merrier. An 11 is a little under 5% conversion and you could do a whole lot better than that. But do the math so you know what you're paying for. And this hearkens back to what Aaron said at the beginning of the lesson. So knowing your goal, knowing what you're going for, and working backwards. Thank you so much for listening to the $100 NBA show. I hope you loved today's Lesson. Today's guest lesson from Aaron Korn I sure did. If you love what you hear, hit subscribe right now. By hitting subscribe, you get our next episodes automatically. You also get access to over 1500 episodes 1500 lessons in our archives. It's the only way to get access to Hit subscribe right now on whatever you use to listen to podcasts. Also, if you have two minutes, share this podcast with a friend or family member on social. You can take a screenshot of the podcast episode right now and share it on your favorite platform. It's the ultimate compliment. Thank you so much. Before I go, I want to leave you with this Every business has to market. You have to market in some way. Whether it's content marketing and you're investing in there, whether it's paid marketing, social media marketing, email marketing, you have to market. There is no business that succeeds without marketing. No matter how good your product is, if nobody knows about it, it's hard to sell. So it's a good idea to know how to do paid marketing because that means you can turn on marketing whenever you want. You know that if you put in X amount of dollars, you can get X amount of dollars back. And that's a superpower as an entrepreneur. Thank you so much for listening and I'll check you in tomorrow's episode. I'll see you then. Take care.

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