(AND HOW TO MEASURE IT) A little about me... - Baseball player, - - PowerPoint PPT Presentation

(AND HOW TO MEASURE IT)

A little about me...

• Baseball player, IRONMAN Finisher, Boston Marathon Finisher
• 10+ Years in the endurance event industry
• Helped grow Spartan Race, The Color Run, Rock ‘n’ Roll and more
• Love learning and helping others create growth through marketing

Contact: Andy Reilly andy@eventgrow.com:

AGENDA

The 4 Step Formula to Improving Return on Investment with Your Facebook & Instagram Ads

• Goals & Measurement
• Targeting & Retargeting
• Ad Creatives and Copy
• Optimization

QUESTION & ANSWER

AFTER

Greg Weber

Race Director

2017 Due to increased competition and a ineffective marketing strategy, sales decreased 25% from the previous year. 2018 +$70,000 Increase in Revenue +1,247 Increase in Registrants New Title Sponsorship

Old Budget Allocation

New Budget Allocation

Why Facebook and Instagram Ads?

According to data from Statistica and Nielsen

The average american spends about 58 minutes a day on Facebook and 53 on Instagram People spend 40+ Minutes per session on YouTube

Why Facebook Ads?

Facebook ads don’t just show up in the news feed.. FB deploys your ads in 25+ different areas

• n their platform.

This includes on Facebook messenger, Instagram and more.

“If you can't measure it, you can't improve it.” Peter Drucker

Measure Results

STEP 1: GOALS & MEASUREMENT

STEP 1: GOALS & MEASUREMENT

Every Facebook Ad campaign needs three things. An objective, a goal and the ability to measure our results.

Set your objective

STEP 1: GOALS & MEASUREMENT

For FB Ads, 90% of our campaigns are conversion campaigns.

Set a goal

Potential Goals Breakeven or better (we made our money back) 2x Return on Investment For every dollar we spend, we want to drive $4 back in sales (4.0 ROAS)

STEP 1: GOALS & MEASUREMENT

1. Amount Spent - How much we spent on ads 2. Website Purchases - Amount of registrations or single signups 3. Website conversion value - Total sales 4. Return on ad spend (ROAS) - For every dollar we spent, how many dollars did we return

What must measure the below metrics

STEP 1: GOALS & MEASUREMENT

STEP 1: GOALS & MEASUREMENT

FB Posts that are boosted can also be tracked

How do we measure this stuff?

By Correctly Installing The Facebook Pixel Email us for a pixel implementation guide for your registration provider. marketing@eventgrow.com

STEP 1: GOALS & MEASUREMENT

Correctly Install the Facebook pixel on every page of your sales funnel

• 3. Register Page 1
• 4. Checkout Page
• 5. Purchase!

THANK YOU PAGE!

• 2. Your Website
• 1. Facebook Ad

YOUR WEBSITE

Once Installed correctly, simply select your pixel when creating your Facebook ad or boosted post

FB Boosted Post FB Ad

STEP 2: TARGETING

The problem…..

• 1. Thousands of targeting options
• 2. Audiences are too small
• 3. Audiences are too large
• 4. Which interests are best?

eventgrow.com

STEP 2: TARGETING

Who should we target ads to?

Keep it simple and start with targeting your warmest leads first.

Build profiles with registration data, surveys and social analytics 63% of our customers match these characteristics

Location: New York, City Age: 30 - 45 Gender: Female Distance: Half Marathon

STEP 2: TARGETING

eventgrow.com

STEP 2: RE-TARGETING

What is it? Retargeted customers are 70% more likely to buy from you. Spend 5x more than normal customers. 10x higher click rates

• Hubspot

Online advertisements targeted to consumers based on their previous Internet actions Why do it?

STEP 2: RE-TARGETING

How do we target our warmest leads through retargeting? Custom audiences are groups of people that are more likely to attend your event based upon a previous action they took online. For example, Facebook will allow you to create an audience of people that purchased your event ticket last year but haven't yet purchased this year.

The Facebook custom audiences tool

eventgrow.com

STEP 2: RE-TARGETING

What are the most profitable custom audiences I should create?

1. Your email list of past attendees (Loyalty customers) 2. Your recent website visitors 3. People who have viewed your checkout page, but didn’t purchase 4. 10 Second Video Views on your facebook videos 5. People engaged with your facebook page

STEP 2: RE-TARGETING

View our top 7 most profitable audiences here

STEP 3: AD CREATIVES AND COPY

What should I use in my ad creative and copy?

• 1. Highlight the desirable ‘after state’
• 2. Create a compelling offer
• 3. Use video

eventgrow.com

AFTER BEFORE

“Good marketing and copywriting simply articulates the move from the ‘before’ state to the ‘after’ state…”

STEP 3: AD CREATIVES AND COPY

Highlight the after state

YOUR EVENT

“Good marketing and copywriting simply articulates the move from the ‘before’ state to the ‘after’ state…”

Highlight the after state

Use bright and contrasting colors

Use less than 10% text in the image

Example third party data study from Running USA Retention Study Top 10 Reasons Runners Selected a Running Event

STEP 3: AD CREATIVES AND COPY

Loss aversion refers to people's tendency to prefer avoiding losses to acquiring equivalent gains: it is better to not lose $5 than to find $5

LOSS AVERSION

STEP 3: AD CREATIVES AND COPY

How do we leverage loss aversion? Reframe the offer

USE LOSS AVERSION/SCARCITY

Discounts w/ expirations Price Increases Limited Inventory

AFTER BEFORE

STEP 3: AD CREATIVES AND COPY

Survey statistics Testimonials Cart Abandonment Loyalty Deals Referral Program USE SOCIAL PROOF USE RETARGETING Race Reviews

AFTER BEFORE

STEP 3: AD CREATIVES AND COPY

Why?

1. According to WordStream, marketers who use video in their digital strategy increase revenue 49% faster than non-video users. 2. Social video generates 1,200% more shares than text and images combined.

eventgrow.com

USE VIDEO!

AFTER BEFORE

STEP 3: AD CREATIVES AND COPY

Longer form Video

40+ Seconds in length. We typically only use these on our website as any video beyond one minute cannot be used on

• Instagram. We only create one of these a year, per event.

The Video Formula We Use Grab Attention: Question, movement, coloration, emotion, bright flashes. Build Interest and Educate: Highlight differentiators, show the course, show the ‘after state’, inform Call to action: Let them know what to do next and make it painfully clear (REGISTER HERE)

AFTER BEFORE

STEP 3: AD CREATIVES AND COPY

Shorter form Video - 5 - 30 Second long videos

• 95% of our videos used for

promotional purposes are short form

• Takes 5- 10 minutes to create one

video.

• Doesn’t require deep expertise in video

to create these

• Use a video creator below

Easy to use Video Creation Tools

AFTER BEFORE

STEP 3: AD CREATIVES AND COPY

What You Need to Create a Short Form Video

Raw Footage from last years event Video Script Video Software

Grab Attention: Question, movement, coloration, emotion, bright flashes. Build Interest and Educate: Highlight differentiators, show the course, show the ‘after state’, inform Call to action: Let them know what to do next and make it painfully clear (REGISTER HERE)

STEP 4: OPTIMIZATION

Ensure Reporting is Working Check your reports and Facebook pixel every week Test Creatives + Audiences Add two images and test to see which performs better. Test one audience vs another. Don’t kill campaigns too soon Give your campaigns at least 5 days to mature before you end it

STEP 4: OPTIMIZATION

When creating a campaign, make sure to exclude the list of customers that have already purchased a ticket for this year.

Recap

• Goals & Measurement - Setup and Use Your Facebook Pixel
• Targeting & Retargeting - Target warm leads first
• Ad Creatives and Copy - sell the happy ‘after state’
• Optimization -Test, test, test

QUESTIONS?

P.S There are no stupid questions

Email me : andy@eventgrow.com

4 Step Facebook Ads Formula

THANK YOU

FB Pixel Implementation guides