Power-up your Facebook Ads

Create a Lookalike Audience. Facebook launched the ability to track Lookalike audiences. This gives you the ability to reach people who are interested in your business because they are similar to the customers you currently have. The Custom Audience – have a list of leads who haven’t signed up? You can upload them to create a Custom Audience that Facebook will advertise to if they use a similar e-mail to the one they provided at sign up. We can help you make a Lookalike campaign based on people who have visited your site and completed an action. Optimize your Conversions. When setting up your campaign set the objective as “Website Conversion” – instead of clicks, this will help improve the automatic conversions of the campaign you’re running. You can make sure your conversion pixel is set up so when someone signs up for your SaaS(Software as a service) or even an eCommerce conversion. If you don’t have a lot of data, we recommend setting this up as “Website Conversion” and set pricing to “Optimize for clicks” and then switch to “Get the most website conversions at the best price” once you have information. Remember, It’s important to wait on setting it for the “Get the most conversions for best price” until you have historical data. Retarget. We recommend using Facebook for retargeting and not AdRoll. Set up your Retargeting as a unique campaign rather then another ad set. Make sure its set it up to exclude audiences that you have in other ad campaigns. New User Cross Sell. Have someone who has signed up? Set up an Ad Campaign that gives them tips and tricks about your service. This is great for free trials for SaaS. Example: “Did you know BrightHaus helps you with your Social Media updates? – Reach out to your campaign manager.” Set up a retargeting campaign that triggers after someone visits a specific URL that can only be accessed via password or signup, for example a sign up success page. Promote Upgrades. Use your Facebook to encourage free trials and upgrades. Set up a campaign that targets two audiences: 1) Customer Audiences based on e-mails of current free users. 2) Retargeting to customers who have recently signed into their accounts on your site. Who Not to Include Okay – so you have included new clients and perspective clients. Now you can exclude existing regular users. You should create this exclude campaign as you don’t want to retarget regular users of your service. Exclude anyone who has been cookies/cookied by the retargeting pixel. This makes sure your reaching new audiences only and using your spend where it really matters. Need help? Contact me today at Billy@BrightHaus.com and I’ll be sure to give you insight on our plans or walk you through this topic and more.

Tinder and Grindr – What you can learn from the dating apps.

With over 1 billion impressions a day Tinder has grown in 2 years into the #1 dating app in the world.  Right behind that is the Gay dating app, Grindr – who within a few years “rebranded” from hookup app to dating site securing mainstream advertising dollars that has left the 100% owner of the company with $10 million dollars per month. Here are my thoughts on what we can learn from the two dating apps.   When Grindr started it reverse engineered the dating experience, geared towards the gay community – teams of Grindr Guys would show up at Gay Bars and help guys download the app.  Quickly users were seeing other guys they may have been too scared to approach in person, available to message, right on their phone.  It was simple, direct, and quick to download.  Tinder did something similar, following suit of Facebook, they would go from sorority to sorority getting girls to sign up on the spot.  After that they would arrive at Frat houses doing the same thing.  Guys would download, see good looking girls and Tinder blasted off. Word of mouth is so important to any business model.  “Refer a friend”, “Free Month”, “Share” – are all ways to quickly have someone spread the word.  CreativeHaus, our inexpensive web design program for small businesses does just this.  When a client refers a friend we offer a free month to them and the referrals sign up.  This has created a word of mouth that can’t be stopped. Tinder and Grindr have reverse engineered the dating site, many sites like Match.com moving into apps will fail because of the demands of their current client base who pay a large membership fee, over information, and tons of features.  Tinder and Grindr have solved this by using your location, Facebook(Tinder), and easy profile creation. Visiting Portland and looking for a coffee date?  With Tinder or Grindr, you can be in any state, any location, and see people in your local area.  Nothing beats the chemical reaction of someone messaging you and the human conversation.  This is a pulled advantage that has resulted in millions of users. What chemical reaction does your company create? What need does your company hit for the end user?  This question is easy for Salons, Lawyers, Hotels, the list goes on.  But when your a B2B product like a chat software, you have to make sure you are truly hitting pain points.   When asked in a survey, women were quoted that the biggest problem with dating apps is the rejection aspect.  Tinder has a double opt in application protecting users from rejection, no other dating sites offered this service.  Grindr you can easily block members.  Taking away the biggest pain point of a product can set you apart from most all of your competitors.  For the salons chain I invest in, we went $5.00 cheaper then the average Salon, offered Online Booking, and brought down the size where it wouldn’t overwhelm the visitor. The Money: Grindr was originally a hook up app.  It was literally created to connect guys quickly.  After they started gaining tractions, advertisers warned, “We can’t advertise with a Hookup app”.  Quickly they rebranded as a dating app.  This took Grindr to the next level, estimated doing sales at $10million monthly earnings, yes $120million a year.  A majority of the advertising is from big companies who allocate their money towards gay businesses and want to be part of Grindr’s 60billion a month impressions. Finally – Grindr keeps it simple with a small $1.99/monthly fee for premium membership, out of its 8 million members we can assume like other freemium to paid services, a number of about 10%.  This brings them almost $120m a year in recurring service income, an amazing feat. Tinder is taking a much more aggressive approach.  Having members over the age of 28 pay a premium cost, advertising bots, and ads that run throughout the app.  Tinder from an advertising perspective must answer to investors and therefore is a bit saturated with the way it will make income. Are you offering a passive way to charge for your business? Lawyers, maybe charge a small monthly retainer of $500 a month for access to your services.  Coffee shops, maybe using frequent sign up cards or memberships? B2B have a free trial? I think a lot can taken from these two amazing apps who have taken over the world and have changed how we date.  Uber has been quoted as saying that without such innovations we wouldn’t understand what the phone can do.  Here’s looking to the future!

The “Magic Number” with Retention Marketing

Yes, many industry standards for metrics of engagements and retention are different.  At the end of the day you have have to look and see what keeps your clients.

Twitters magic number is 30.  Users who followed 30 others were much more likely to remain engaged and use the service.  Facebook was 10.  Users who added 10 friends were likely to stay active on Facebook.  Slack had a number of 2000.  2000 messages being sent/used would keep people using the service and eventually purchasing. The number of engagement or retention determines who is really using your product and can even show you how to retain them. What does conversion and retention mean for your business?  This will be different with each industry. Hotels, this may be getting a guest to visit twice and sign up for a rewards program in the process.  Leveraging a easy to use point system.  Thats what Southwest Airlines did, offering a free flight after 10 plan ticket purchases.  This was a blown off concept but was the secret of Southwest speedy growth. Salons, getting your client to rebook and visit a stylist every 6-8 weeks in a 3 month period.  This could be with product discounts for “Members” who can only gain a card after 3 visits. Lawyers, this could be a bit more difficult.  Giving clients free consults whenever they have a problem may be a way to offer a “freemium” model.  Get them to relay on you with small conversations, eventually getting them to come back for document review, preparation ,etc.  This number could be as little as one or two conversations during a negotiation. Finding your Magic Number for engagement and retention can be critical and may take time to figure it but when you do – you will know the steps you need to take to retain your customer/client base.