My Marketing Experiment.com

So you’ve wanted to do some advertising and were afraid to waste your money? Afraid that it wouldn’t work? Afraid the effort you put into it will not bear fruit? Well marketing is a funny thing. There are a lot of factors that are involved in marketing. People are complex, how you reach them is also complex. Simply because people did not respond to your message the way you like or your ROI (return on investment) was not what you wanted it to be, does not mean that the market you placed your ad is at fault. Marketing is all about experimenting, hopefully you can learn something from our experiments and get an insight as to what may work and what may not. Below are some of the experiments we are currently running. Click on each one to read details. We run experiments on domains and businesses in different vertical markets that we either own ourselves or perform for others… as a joint venture.   We have enhanced our comment feature to eliminate spam….  You now have to be logged into Facebook to leave comments.

 

Payday Loans Marketing

 

 

Tags: experiments, payday loans

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As you know I have been experimenting with Facebook and testing the results on different ads. I have found that I like the security of PPC other than pay per impression. The average cost per click was over 3 dollars compared to less than a dollar using the PPC option. Granted, a couple of the ads performed much better, and I received a cost per click of 13 cents or better. I did a few things wrong my first time out and I want to go over them.

1. I did not have a landing page.

2. There was no direct call to action.

3. Did not collect any information for further follow up.

4. No “Facebook Fan Page”

5. Did not have sufficient ad versions for testing.

Granted, this was for our payday loan project, it is a difficult demographic…. and you don’t see many marketing it on Facebook .  however,   you can see exactly what we did by clicking the link. ….  We are still experimenting with different things on Facebook…. but have yet to venture into other networks.  I will update as we do.  I have several networks that I have promoted other sites on successfully in the past and am anxious to promote our payday loan projects on.

Now I’m going to discuss how we are going to correct these problems and more importantly WHY?

Problem|Solution|Why

1.  No Landing Page|Used a landing page I created with a wp plugin… this way I can have several different versions to test conversions.| Landing pages are important because peoples’ attention spans are short and it gets them to take action very quickly.   I will focus on collecting their email address before continuing…  I do this with my mailings lists but for some reason didn’t on the facebook ads.

2.   No direct call to action|this is related to the above problem…  You want them to do something quickly before they close the page out… you only have a few seconds to grab their attention.  If you are overly verbose and provide too much information,  you lose the opportunity to follow up with them.  |  The solution is to have an email collection form to get their email address before they get the next piece of information.  Give them a little teaser of sorts,  collect their email then give them the rest… This gives you the opportunity to follow up with them all on autopilot.  It is important that you have an autoresponder setup before you start… I use aweber.com

3.  Did not collect any information for further follow up| Also related to the above.  I will put an email collection form or a fan gate on the page separating the teaser from the information they want… then we can follow up later.

4.  No facebook fan page|  This is important because if you promote the fanpage instead of your teaser page you can supposedly get the  cpc down pretty low… at least lower than if you were sending them directly to the landing page… I’ve yet to try this but will follow up.   Also, if you put a fan gate (they have to “like” the page before they receive any further information) followed up with you opt in form for further follow up…    you can even further milk your advertising budget for every penny.  Not only will you have their email address for further follow up,  but since they are a fan of your page,  everything you post will show up on their wall… so you have 2 different ways to promote… just be sure NOT to over do it and spam them with a bunch of crap, offers or whatever… be sure to deliver value.

5.  Did not have sufficient ads for testing|  This was a big one,  I recommend that you have at least 10 ads and test test test|  of course some of them performed better than others,  my CPC was much lower on some than others… it was seemingly very high or very low… if you want to be on the safe side,  go with CPC and NOT CPM…    Better yet,  set yourself up a fan page,  put up a fan gate and extract their email before you give them any additional information.

That’s it in a nut shell…..  Facebook is an interesting place to advertise.. I will be experimenting with other networks in the future, I will keep you updated.

Tags: facebook marketing, marketing on facebook, marketing on facebook tips

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Well,  I must say that I am giving up on advertising my Payday Loan Site on Facebook….  it was met with dismal results…. Perhaps I didn’t wait long enough for results, but after blowing 30 bucks (I know this is not a lot)  with zero return and a cost per click upwards of $3 I intend on trying other networks and focusing on SEO as my primary method of collecting leads for the site.  I am not giving up on Facebook though,  I am now going to use our remaining budget that was earmarked for the Payday Loan site for a new “cell phone spy” project that I have been interested in…. It is part of my “discreet intelligence”  network of sites.   This network  includes everything from mobile spy apps, desktop monitoring software to background checks and reverse telephone number lookup web properties.   Of course these monitoring programs are only to be used for legal purposes on phones and computers that you personally own.  I have several desktop and mobile applications in this vertical that I want to get developed.

I am aware that some products perform better or worse depending on the market you advertise in… I am thinking that payday loans are just not suited for the Facebook demographic at this time…  It may be too soon to tell,  perhaps enough time wasn’t given,  but I just had to pull the plug before anymore money was wasted.  I believe the money would be better spent on an SEO campaign using a database of cities and states we do loans in.   I am opting to not display details of the ads I am going to use on the “mobile spy app”  but put them behind the members area.   So if you are interested in seeing any of the ads used, places we advertise and the results we get,  be sure to sign up to our members area.   You can do so below….  you will then be redirected to the members area of our website.

Tags: cost per click, desktop monitoring, dismal results, facebook, mobile applications, payday loan, telephone number lookup, upwards

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