There’s a reason why Facebook ads are one of the most important marketing opportunities to come along in quite some time, and it goes far beyond the fact that the network can connect you to literally billions of people all over the world in an instant.
The Facebook advertising platform offers the type of robust analytics that you simply won’t be able to find anywhere else, allowing you to virtually guarantee that you’re getting in front of the right people at exactly the right time. You can micro-target to your exact audience and you can even create ads that are catering to your specific objectives. This allows you to spend money more intelligently than ever, all in the name of generating revenue and increasing your ROI across the board.
Of course, that’s not all. With Facebook ads, you’ll reach more people than you ever would by relying on organic posts alone and ads even allow you to remarket to people who have already interacted with you in some way. All told, you’ve got something of a perfect storm on your hands and the path to your business’ growth is essentially free and clear.
But the ads themselves aren’t necessarily powerful enough to get the job done. Facebook ads are a tool, the same as anything else. What the tool can do is less important than what you can do with it. All of this is to say that if you’re trying to scale your agency from $100 per day to $10,000 or more per day on Facebook ad spending, there are a few critical things you’re going to have to keep in mind.
Play to Your Strengths, Understand the Season You’re In
Nehal Kazim is the founder of Ad Pros, a Facebook ads agency and education company all rolled into one. Since its inception, Ad Pros has helped to scale paid ad campaigns to $300,000 (and more) per month in ad spend and has long made it a priority to help media buyers do the same.
In order to get from the beginning of that journey to the end of it, Kazim says that one of the most essential things you can do involves knowing as much as you can about the season that you’re in with your business as possible.
Sometimes people are trying to build a seven-figure business, but they get stuck for longer than they’d like spending $100 per day. They’re not really sure what they need to do to connect those two dots and to move from one end of the journey to the other.
But if you understand that you’re currently spending $X and are making $Y, you can easily reverse engineer that to figure out what you SHOULD be spending to start scaling in a way that aligns with your long-term goals. If you’re spending $100 per day and are making $2,000, and you want to move up to $3,000 per day, at that point it becomes a simple math equation. In that specific scenario, you’d need to be spending about $150 per day to slowly start working your way closer to your goal.
Note that this is an admittedly simplistic example, but it’s easy to pop your own numbers in there to start to see what steps you’ll need to take next.
The point is that there are steps to get from where you are to where you want to be, but at that point you need to understand which stage of growth you’re currently in. Only then will you be able to reverse engineer the process, starting with the destination and working your way backwards to the path you took to get there.
Likewise, Kazim indicated that it’s incredibly important to never compare yourself to a business that is in a different season than you are. You might want to compare yourself directly to one of your larger competitors, but if you’re still trying to figure out what your unique product/market fit is and they’ve been in business for 10 years, you’re really not accomplishing as much as you thought you were.
This is why it’s key to acknowledge that while a lot of people can give you advice or outline best practices about how best to scale your business, your journey is absolutely going to be unique unto itself. No two paths to success play out in quite the same way so you shouldn’t necessarily be trying to find the one that already exists that you can ride to success. Instead, you should be trying to build your own unique path from the ground up, given exactly the type of organization you’re trying to run.
Remaining Invested in Your Unique Reality
Finally, understand that there are times when all of this will be directly impacted by factors beyond your control – something that we’ve all been reminded of given the ongoing COVID-19 pandemic. At the beginning of COVID-19 when states started instituting strict stay-at-home orders, businesses like gyms shut down indefinitely overnight. Suddenly, they were a product in search of a market all over again because they were behind a service that people literally couldn’t use.
Those savvy business owners out there were able to pivot, but to do that they had to allow the strategy they were in the process of executing to be disrupted. They had to be willing to change what they were doing given this new information, rather than “stay the course” and hope that everything worked out okay.
This is why it’s always so important to remain invested in YOUR reality, not someone else’s. If you get too caught up with where you SHOULD be, you’ll lose focus on where you ARE.
Only by coming to terms with where you are and by understanding exactly what that means will you put yourself in the best possible position to evolve into the type of organization you’d always hoped to be running one day.