We are a new business, Just online. (2 of us)
We put our own money in to start up.
August
We spent about €1096 with Facebook on ads
We've made sales of €2330 (this is not taking into account payment processing fees)
If you factor in the cost of the product we are losing money.
Are there any cheaper ways to advertise?
At the moment it's costing us €1 to make €2 (roughly) .. but when you add in the cost of the product (which varies) it's costing us €1 to make €0.55.
Would flyers/radio ads work any better?
1. People aged 18 - 24 who are interested in ..... living in .....and like these pages.....
- You need to build some detailed customer profiles so you know exactly who to target. For example:
2. People aged 50+ who.....
- Look at your analytics and see who is converting the most and focus on them
- Rather than just directing people to your website, you should be directing them to a funnel. For example "sign up and get one free entry to a competition". Then they're on your mailing list and email is the biggest converter
- Around 50% of our revenue comes from email, 20% from FB and the rest organic. I'd suggest focusing on growing your email list. Based on this, you may have a higher cost per user signup (ie. 1 sale might cost you more than you make from it) but it may yield larger returns in the long run (what % of users turn into long term users?)
- You should hire a FB ads expert. I regularly spent $100k a year on FB ads. Now I spent $10k a year on an expert and $10k on ads and have the same/better results on average. Look on upwork.com
- Your website could be improved to look more professional and authorative - again look on upwork.com and find a landing page expert. I didn't see your phone number anywhere on initial glance. Make it clearer
- Why not give users 2 extra entries if they refer a friend who purchases a ticket too?
The site claims to be for "premium competitions" but the prizes aren't. Neither the iPad nor the iPhone 11 are premium products, in fact the iPad is the lowest spec iPad Apple sells. The site through the UI and UX constantly contradicts the "premium" billing.we find targeting iPad / Tablet users didn't work. Spent over 200 on different interests to get no sales.
That really gets to me as well.pet hate of mine is the misquoting of old sayings e.g. "the proof is in the pudding". It's not and never was and it's a meaningless string of words. The old saying is "The proof of the pudding is in the eating"
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