How to Cut Your Facebook Ad Costs in Half and Increase Your ROI

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If you’ve been running Facebook ads over the last year, you’ve probably noticed the cost of such ads is going up. You get a lot less reach for your buck and your organic reach is next to nothing.

However, over any paid marketing media out there, Facebook is by far the most profitable way to go…when you know this “secret” strategy I’m about to share with you!

This strategy will literally cut your marketing costs in half and give you the opportunity to double—if not triple—your ROI.

The Way Most Bars Advertise on Facebook is Killing Their Pocket Book

When bar or restaurant owners reach out to me for help with digital marketing, the first thing I look at is their Facebook ads. I’d say 9 out of 10 are just “boosting” their posts and trying to hit the masses. Their “goal” is to put their ad in front of as many people as they can.

This is a waste of money as you’re hitting a very broad audience, a large percentage of which don’t have any interest at all in doing business with you. Making good money from your marketing isn’t about hitting as many people as you can, it’s about hitting the right people with your marketing.

Read this: This New Marketing Strategy Will Pack Your Bar with Little Effort or Money

Don’t you think you’d get much better results if you only hit people who actually had an interest in doing business with you?

Here’s the New Facebook Strategy that Gives You the Best Bang for Your Buck!

In the video below I’m going to cover what I like to call “building your warm audience.” The benefit of only marketing to your warm audience is that you spend less money because you’re not hitting the masses. You’re only targeting people who have an interest in doing business with you, which means you’ll get a much higher ROI from your ad dollars.

A warm audience is built up of three to four different audiences:

  • People who engaged with your Facebook page over the last year.
  • People who engaged with your Instagram page over the last year.
  • People whose phone number and email address you have.
  • People who have hit any page of your website in the last 6 months.

You take all these groups, put them into one audience, and this is the audience you should be focusing on when you want to promote specials and events. This is not a strategy for generating new customers.

This is about 10 to 15 minutes’ worth of upfront work that will give you the best success rate with marketing your specials and promotions to your most profitable audiences.

Read this: Bar Marketing and Promotions Ideas Essential to Your Business

If you’re looking to attract new customers on Facebook, this YouTube video will show you exactly how we use what are called “conversion” ads within Facebook.

Want more amazing marketing advice like this? Download the 2019 Nightclub & Bar Show app and add these marketing sessions to your schedule:

Nick Fosberg is a bar owner outside the Chicago area and CEO of Download his free report, "The 100/80/20 Marketing Formula," by clicking here to discover his strategies for attracting new customers at a profit.

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