When it comes to the effectiveness of your paid advertising, don’t be too quick to judge.
“Campaign” Finally Comes Full Circle
One of our team members who works in the MOBE headquarters in Kuala Lumpur traveled back to the U.S. for a few days to attend his 20-year high school reunion. For the sake of this story, we’ll call him John. So after John returned, he told us this story:
He arrived at the fancy hotel where the reunion was being held, and then met up with a few guys from his class who he remained friends with through the years. They were all in their suits sitting at the bar when “she” walked up to John.
During his high school years, John had a crush on this particular girl. She was blonde, smart and beautiful. He did all he could to get her attention, but nothing happened. It was the classic “she didn’t even know he existed” scenario.
So John’s buddies moved off while he and she talked. They hardly said 20 words to each other back in the day but there in the bar, she thanked him profusely and genuinely for all of his attention. She apologized for her lack of response back then, explaining that she’d been far more shy and introverted than anyone really knew.
They had a good laugh and both of them felt better about it.
John’s story instantly made me think about online advertising campaigns. (My mind is always on business.)
If you place a solo, pay-per-click, or other online ad and check the return on your investment after only a couple of days or a week, you are going to assume the ad is a failure.
Depending on the price of the ad, you might begin to panic, thinking that you’ve lost money.
It’s pointless to panic … and at only seven days, it’s far too soon to judge.
While there have been instances where a paid online ad broke even or was profitable in a matter of days, the vast majority of ads don’t produce those kinds of instant results.
The “single factor” I’m talking about in the headline of this article is time. You’ve got to give it some time before you judge.
As a general rule, I don’t decide whether a particular ad was a success or a failure until 90 days after running it. But even after 90 days, an ad may still produce sales and may break even or create a profit, so I don’t completely judge at that point. (In fact, I’ve had ads that didn’t break even until even a year later, so it may always be too early to judge.)
Importance of Follow-Up
Though an ad might not create immediate revenue, its potential can still be developed.
Let’s say you run a solo ad. A lot of people will delete it without reading. Some will read a bit, then delete. Some will opt-in. Maybe there will be a few sales.
Most importantly, you will create a growing list of customers and leads. To each group, you will send a sequence of follow-up emails with the intent of creating sales (front-end sales to your leads and back-end sales to your customers).
Your follow-up sequence gives you the opportunity to strengthen your connection to these people who have consented to communicate with you. So, don’t just “sell, sell, sell” to them in your follow-up sequence. Give them practical and valuable content that positions you as an authority and builds their trust.
In this way, you increase the profit potential of your results.
A year later, a prospect who has been receiving your follow-up sequence may make a front-end purchase. Upon buying and studying it, they may realize that your company has exactly what they’ve been looking for all along. They may quickly purchase your premium products. Those purchases, which originated with a “failed” ad, may now cause the ad to be profitable. This has happened to me before.
So don’t panic if your ad doesn’t produce instant results. I have someone who monitors the responses to all of my campaigns—ad price, clicks, leads, sales, revenue—and sends me the numbers every day. But I don’t rule an ad a winner or loser for at least 90 days. That’s long enough to establish the trend.
Unlike our guy John, who attended his high-school reunion, you won’t have to wait 20 years to find out how you did. After 90 days, you will know with certainty which of your ads to allocate more of your ad spending, and which ones you should abandon.