Trying to boost ROI with your ads is a fools game.
Everyone knows that ad prices are going up.
This quarter, advertisers have the double whammy of Black Friday and an election to deal with. More people dipping in the same pool means prices go up. Then, when Facebook and the other platforms see how much the advertisers can spend, they’ll stay up.
You need to look further down your funnel for returns.
Last month I started gating more of the entrances to my list with a $1 deal.
It didn’t have anything like the impact I thought it would. One offer that had been getting free signups at around 30% dropped to below 20%, but the sales held steady. All I’d done was choke off the freebie hunters.
$1 isn’t a discount. It’s a qualifying question.
The real value came when I added in a small upsell.
I added a $5 option, taking the most I’d make on the front end to $6. Where 10% of readers on the free list had taken it up, now I’m getting half. That’s a $3.50 average order value.
350% ROI uplift without even writing a sales letter.
Now I know what people want, I’m working on a bigger product as the main up-sell. There’s going to be a one-off discount if you buy in the funnel. (I’ll let you have it as you’re already on my list). I’m expecting a decent return on that, and I want to start running more ads at that point.
All this with a free shopping cart, Zapier, and my usual email system.
If you have even a basic offer in place, drop me a reply with a link to it.
Let’s talk about how to get you set up with an offer that will convert to cold traffic.