- 1 Before you spend another penny on Facebook advertising (or any other advertising), The Customer Journey/Value Pyramid needs to be understood (Video below)
- 2 The Modern Customer Journey Pyramid (diagram)
- 3 DOWNLOAD THE CUSTOMER JOURNEY PYRAMID
- 4 Customer Journey Pyramid (video)
- 4.1 Why is the Customer Value Journey getting so fragmented?
- 4.2 But is the lure of all those eyeballs going to turn you a profit?
- 4.3 But wait, this does lead to one massive opportunity…I will explain all…
- 4.4 The power of personal data is still worth investigation though, right?
- 4.5 Clearly it must be easy to advertise on Facebook and make money, surely?
- 4.6 Setting up a Facebook ad is easy
- 4.7 So we can turn on the tap to profits that easy?
- 4.8 So this is easy right?
- 4.9 Cold To Converted
- 4.10 Peak Ad Saturation
- 4.11 However here in lies your opportunity:
- 4.12 Is it not possible to make a sale from cold traffic anymore?
- 4.13 Wow, this is all very confusing then, right?
- 4.14 But also VERY exciting…
Before you spend another penny on Facebook advertising (or any other advertising), The Customer Journey/Value Pyramid needs to be understood (Video below)
With nearly 3 billion active users on the various Facebook Network of services; Facebook, Messenger, Instagram and WhatsApp, it’s surely one of the most interesting areas for all advertisers to nail when it comes to interruptive advertising.
Please note the distinct use of the word interruptive.
What on earth is a Customer Journey/Value Pyramid?
Well in all honesty it’s a slightly tweaked (for the modern world) accepted marketing concept often called the Customer Value Journey that visually helps marketers and business owners understand that there is more than a Paid Ad > Percentage Interested and Click > Actually Buy/Convert, relationship with online buyers.
The concept of ascension of a customer over time has become both an art and science to make it work for you as a brand and typically will mean the use of a technology stack (integrations), persuasion, systems and tactics and techniques to squeeze as many conversions as possible from that one advert.
Why bother considering the Customer Value Pyramid?
The concept is key to formulating and packaging products and price points that start from basic to premium and may include trials, demos and bundles.
It also focuses a marketing team, product/service development team and business owners mind on value and friendship with a customer, so you can ascend them to becoming brand advocates and get the lovely free referrals, useful testimonials and honest feedback from brand ambassadors.
This can potentially bring in *free/low-cost customers by utilising happy testimonials will help you convert leads easier, and using the valuable feedback will be great for optimisation of all areas of the business…..but of course to do this right you need a plan!
On-Demand World Is Smashing The Established Customer Value Pyramid/Journey To Bits
However what is even more interesting, is the distance and paths taken between each parts of the Customer Value Pyramid, as it is getting more fragmented and confusing as time goes by.
This is caused by a continued migration to an on-demand world, as we consume more and more on our mobile devices, with instant answers and outcomes expected.
The Modern Customer Journey Pyramid (diagram)
DOWNLOAD THE CUSTOMER JOURNEY PYRAMID
Customer Journey Pyramid (video)
Why is the Customer Value Journey getting so fragmented?
How we use technology has changed.
Put simply, we spend more and more of our time looking at content on small screens (mobiles) and flit from technology to technology, app to app, article to article and still tend to convert mostly on desktop, but the issue (and opportunity) is our time is mostly spent in a mobile environment.
Banner blindness and ad saturation are real
Also, we are getting increasingly banner blind and simply over advertised…
But is the lure of all those eyeballs going to turn you a profit?
Well this all depends on a number of factors, but the the ‘ball-park’ stark answer, is an ever increasing NOPE!
But wait, this does lead to one massive opportunity…I will explain all…
You see Facebook, Messenger and Instagram are not e-commerce sites like Amazon or e-Bay, where you use a clear search engine for products designed to give you what you want.
Which is clearly a great opportunity for advertisers to utilise and piggy back a bid based algorithm and pay to be placed prominently for a search query you feel may have a chance to convert to a sale.
But, you do not login or engage with the Facebook family to be sold to, you’re there to chat and engage.
Equally Facebook does not act like a common search engine like Google where you are often in buyer mode or seeking some help or a service or product as you type your query.
Being advertised to on the likes of Google, while you are in such an open buyer/curious state, is a potentially far more easy initial value proposition for advertisers to catch you in your flow and pull you to their solution.
But as Facebook advertising is interruptive in nature (you were not seeking anything at the time) you need to be ultra mindful of that and work your advertising system in a much more sophisticated manner…
The power of personal data is still worth investigation though, right?
Most people however would just say Facebook is free.
However when you realise that data is now the most expensive commodity on the planet, after oil, you suddenly realise that what Facebook has is access to the most profitable system of data mining on the planet and we as humans are so interwoven into it that we are simply a part of that web of data, knowingly or not (Matrix memories!).
This (your) data is the common currency we all pay to stay connected and easily communicate with people all over the world using the Facebook network.
But we of course make zero profit (money) out of this relationship in terms of cold hard cash….unless…
We piggy-back Facebook’s user data and use Facebook to advertise our products or services…
So you see, what sets Facebook apart from pretty much all their ‘so called’ competition is that the platform is built around user data, your user data.
Sure Google know a hell of a lot about what you do, and deep mind is working wonders in AI to help automate and fine the right audiences for advertisers based on a massive amount of BI (business intelligence) data, but if you don’t use Google, Gmail, and maybe use the new Firefox browser where cookies are disabled by default or VPN’s or delete your cache a lot to speed up your browser or just because you don’t like being tracked, then you realise that while Google is mighty, Facebook is the ultra omnipotent god of data.
Well when you have an interaction with your ad, page on Facebook you are able to use that touch point in Facebook to retarget them in the future.
With Google, you will be lucky to keep a visitors cookie for 30 days to retarget to.
With Facebook that contact ability is perpetual in theory.
Clearly it must be easy to advertise on Facebook and make money, surely?
And there-in lies one of the biggest falsehoods and challenges that will face you as a newbie to Facebook ads.
- Facebook ads are an amazingly simple way to sell your product and service — True and False
- Facebook ads will eat your cash without systems or an understanding of fundamental marketing psychology and buyer behaviour — True as hell
Setting up a Facebook ad is easy
I can tell you right now that with a quick introduction to Facebook ads (that you can get for free in most places), a mini course or looking around Facebook’s semi useful Blueprint, you will easily be able to easily set up an ad using a whole range of options within Facebook’s Ad manager.
So we can turn on the tap to profits that easy?
I am afraid not.
If you are new to advertising you are almost definitely going to be in for a long old rude awakening.
Yes you can get your ad out there, and start to see all kinds of engagement, clicks, likes and shares…
So this is easy right?
Vanity metrics are only going to do one thing, and it ain’t that pretty or sexy…
If you’re not already deeply into optimising sales funnels, email marketing, webinars, lead generation, lead magnets, copywriting, sales psychology and customer value optimisation, data analysis, split-testing and many more marketing skills, you may EASILY fall foul of attracting (paying for) plenty of engagement, leads and clicks, but never actually making any profit.
Cold To Converted
The reality is that without a clear system of warming up the right target audience, getting to know them and then offering something in return for an email or messenger subscribe, and then having systems in place to pull them through an ascension and value trade funnel of some sort, the likelihood of making profits diminishes HEAVILY as you simply lose the ability to stay connected and build trust.
Remember the old adage; ‘People buy from people’ not from adverts.
Peak Ad Saturation
One of the big issues we have seen as professional Facebook advertisers over the last few years is what has been termed Peak Ad Saturation.
Put simply Facebook and its networks partners do not have enough space to sell ads, so like all supply and demand equations the upshot is that the cost of available space goes up, convenient really!
This effectively means that it’s costing more to get your ad shown, on often rather poor inventory (places) it must be said, and people are getting less likely to do what you want when they see your ads (if they see), as banner blindness is a very real thing trust me.
There are quite simply too many advertisers on the network and on top of that issue, we are getting blind to all these distractions.
However here in lies your opportunity:
You see, if you recall what I said earlier about it being easy to advertise on Facebook in a rudimentary manner.
Well the truth is most advertisers are amazingly average at actually advertising.
You see setting up an ad on Facebook is far from rocket science, kids and OAP’s are more than able to work that out, and Facebook will be more than happy to take your hard earned dollars/euros/pounds etc whatever your advertising skills.
And sure there are some average advertisers out there who may make a profit, enough to keep them in the loop, and spending on ads.
But MOST advertisers are massively wasteful beyond belief.
If these people just spent a little more time ‘up-skilling’ their general marketing abilities (or that of their team’s) they would see reduced costs per conversion, increased reach, and much higher LTV (long term value) of each lead and sale.
Is it not possible to make a sale from cold traffic anymore?
Ok, the realty is that even with Facebook’s increasing ad costs, you can, with the right product, quality targeting and messaging, and the right price (profit margin), still make profits from a cold audience.
Very skilled direct marketers and quality affiliate marketer types (with access to great products and sales funnels) likely know enough to work the Facebook system to still turn a pretty penny…
The point I am trying to make is that YOU be like these people and YOU can make more if you actually put the effort into learning more about customers, Facebook strategies, the Facebook pixel, remarketing, custom audiences, look-a-like audiences, general marketing strategies, sales funnels and product development so you can ascend your potential clients or customers up the Customer Value Pyramid (CVP) and make more profit while building a strong long-term relationship.
Wow, this is all very confusing then, right?
Well it can be to start with for sure…
But also VERY exciting…
You see if you are serious about making Facebook ads work for you, then it’s simply a question of being decisive and putting in the necessary investment of time, money and effort, that is all.
Really, you simply need a trusted mentor (I/we want to be that for you of course!) who ‘gets’ all this stuff and offers a quality training program that you can follow and you too can make Facebook ads and the CVP work for you.
Wouldn’t it be nice to start to think like a professional campaign manager and see the power of Facebook ads work for you and your business.
If you do want to learn Facebook ads for your own business, or start to sell Facebook ad services to your current clients, I would like to invite you to attend our Free ‘Pro Agency Secrets Webinar’ where I will personally explain where so many marketer fail and how you can start your journey to Facebook Ads Mastery.