(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

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

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 on their platform. This includes on Facebook messenger, Instagram and more.

STEP 1: GOALS & MEASUREMENT Measure Results “If you can't measure it, you can't improve it.” Peter Drucker

STEP 1: GOALS & MEASUREMENT Every Facebook Ad campaign needs three things. An objective , a goal and the ability to measure our results .

STEP 1: GOALS & MEASUREMENT Set your objective For FB Ads, 90% of our campaigns are conversion campaigns.

STEP 1: GOALS & MEASUREMENT 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 What must measure the below metrics 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

STEP 1: GOALS & MEASUREMENT FB Posts that are boosted can also be tracked

STEP 1: GOALS & MEASUREMENT 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

Correctly Install the Facebook pixel on every page of your sales funnel 1. Facebook Ad 2. Your Website 3. Register Page 1 YOUR WEBSITE 4. Checkout Page 5. Purchase! THANK YOU PAGE!

Once Installed correctly, simply select your pixel when creating your Facebook FB Ad ad or boosted post FB Boosted Post

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.

STEP 2: TARGETING 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

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STEP 2: RE-TARGETING What is it? Online advertisements targeted to consumers based on their previous Internet actions Why do it? Retargeted customers are 70% more likely to buy from you. Spend 5x more than normal customers. 10x higher click rates -Hubspot

STEP 2: RE-TARGETING

STEP 2: RE-TARGETING How do we target our warmest leads through retargeting? The Facebook custom audiences tool 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. 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 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

STEP 3: AD CREATIVES AND COPY AFTER Highlight the after state BEFORE 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 “Good marketing and copywriting simply articulates the move from the ‘before’ state to the ‘after’ state…”

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 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

STEP 3: AD CREATIVES AND COPY How do we leverage loss aversion? USE LOSS AVERSION/SCARCITY Reframe the offer Discounts w/ expirations Price Increases Limited Inventory

STEP 3: AD CREATIVES AND COPY USE RETARGETING USE SOCIAL PROOF Cart Abandonment AFTER Loyalty Deals Survey statistics Race Reviews Referral Program BEFORE Testimonials

STEP 3: AD CREATIVES AND COPY AFTER USE VIDEO! BEFORE 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

STEP 3: AD CREATIVES AND COPY Longer form Video AFTER 40+ Seconds in length. We typically only use these on our The Video Formula We Use website as any video beyond one minute cannot be used on Instagram. We only create one of these a year, per event. BEFORE 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 3: AD CREATIVES AND COPY Shorter form Video - 5 - 30 Second long videos AFTER 95% of our videos used for ● promotional purposes are short form BEFORE 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

STEP 3: AD CREATIVES AND COPY What You Need to Create a Short Form Video AFTER BEFORE Raw Footage from Video Script Video Software last years event 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

THANK YOU Email me : andy@eventgrow.com 4 Step Facebook Ads Formula FB Pixel Implementation guides