What Works
Jan 10, 2019

What’s Working (And What’s Not) In Facebook Ads with Amanda Bond

Summary

Amanda Bond always talks a good game about what’s working (and what’s not) in Facebook advertising. I’ve followed her for a few years and love the enthusiasm and the honesty.

That comes across in this interview about where Facebook advertising is headed in 2019. And includes a few rants on why we’re all doing it wrong today.

Why should you listen?

Ask a marketing agency where to get paid traffic and you’ll get a default answer of Facebook. A couple of years ago It was cheap and effective.

But, things are changing… costs are up significantly and it’s getting harder to crack the magic, positive ROI.

Amanda shares the reasons why it doesn’t work anymore (for most of us), and how we can do things differently.

3 lessons…

  • Internet marketers are forcing people through funnels to the detriment of caring about their audience. It’s a sales first mentality when it should be about longer term relationships.
  • “Ads only amplify what’s broken”: If your product won’t sell organically, ads are too expensive to cover the cracks.
  • Stop focusing on cost per lead. Think earnings per lead and you flip your focus to how can we deliver more value to the customer.

The Nitty Gritty:

* Why Facebook ad costs have risen so dramatically and what we’ve been doing that contributes to the problem* The metric that Amanda Bond encourages her clients and students to prioritize instead of Cost Per Lead* How skewed expectations for conversion rates have led to declining ad performance* The 3-part customer journey that Bond advises for excellent customer experience and profitability

Have you heard? The sky is falling!

Okay, the sky isn’t actually falling. What is being talked about by every Chicken Little out there is how much Facebook ad costs are rising.

Recode, Business Insider, Adweek, Adespresso, and more have been talking about declining inventory and rising costs for the last year. Small business owners are catching on too. Inside our network, we’ve been watching as members scratch their heads about the cost of clicks and leads.

We’ve been promised clicks and leads for less than a dollar by every Jeff, Ryan, and Frank out there with a Porsche and an online marketing course—but what we’re really seeing is lead costs balloon to $5, $10, or even $25 or more, with little to no profit on the backend.

So what’s going on with Facebook ads today?

That’s what this episode is all about.  In mid-December, Amanda Bond, founder of The Ad Strategist, pulled down her regular website and put up a sprawling multi-part article on everything that’s not working with Facebook ads today. She explained how many of us have been sold a bill of goods when it comes to how we market our products and services—and backed it up with case studies and data.

She also presented a case for what is working—based on her extensive work running clients’ ad campaigns and teaching small business owners to do it themselves.

I wanted to have her on the show to explain and dive deeper into some of the things she discussed on the site.

This episode is part of a special series we’re doing talking to the people with a bird’s eye view on what’s really working. In November, we talked to Isa Adney from ConvertKit about what’s working in email marketing. And, in December, we talked to Sai Hossain, the founder of Crowdcast, to find out what’s working in live video broadcasting.

This month, we’re looking at Facebook advertising to find out what’s working—and what’s not—with Amanda Bond.

Bond and I chat about bro marketing, why ad costs have been rising, why she has people focus on earnings per lead instead of costs per lead, and how she thinks about planning an ad campaign to maximize both the customer experience and profit.

To find out what’s working in Facebook ads today–and what’s not–listen to the interview here or wherever you listen to podcasts!