Dan Martell - August 20, 2018


How To Use Custom Audience on Facebook To Reduce Your Marketing Costs


Episode Stats


Length

8 minutes

Words per minute

195.78336

Word count

1,752

Sentence count

85

Harmful content

Hate speech

2

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, Dan Martell walks you through a strategy for using custom audiences to make your marketing cheaper and really reduce your cost on social media platforms like Facebook, LinkedIn, and Pinterest. If you re struggling with your business and want to know what you should be focusing on, this episode is for you.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hi there, I'm Dan Martell, technology entrepreneur,
00:00:02.100 investor and creator of SaaS Academy and in this video,
00:00:04.500 I'm gonna share with you a strategy for using Facebook
00:00:07.300 custom audiences to make your marketing cheaper,
00:00:11.780 really reduce your cost.
00:00:12.740 It's amazing, be sure to stay to the end.
00:00:14.880 We're also, I'm gonna share a resource called
00:00:16.580 the Churn Buster Cheat Sheet that's gonna allow you 1.00
00:00:18.960 to implement the nine different tools to reduce your churn
00:00:22.560 in your SaaS business if you're struggling with that today.
00:00:30.000 Maybe you're running Facebook ads today and it is not performing
00:00:41.120 at all.
00:00:42.120 You hear people getting, you know, 50 cent leads, dollar
00:00:44.440 leads, $2 leads.
00:00:45.220 You're like, yes, please, all day long.
00:00:47.220 I would love that.
00:00:48.020 But your experience is more like $35 leads and you're like,
00:00:51.420 oh, Facebook does not work for B2B SaaS.
00:00:54.120 Let me tell you one thing.
00:00:55.760 It absolutely does work for you.
00:00:58.420 I have many of my clients that have executed
00:01:00.420 Facebook campaigns.
00:01:01.560 The challenge is you need to understand how to create
00:01:04.500 the structure and at a high level, and I learned this
00:01:07.360 while I was building up my company Clarity,
00:01:08.840 so we were a marketplace that allowed entrepreneurs
00:01:10.660 to get advice over the phone and Facebook was
00:01:13.060 a primary channel for us and at first it didn't work.
00:01:15.940 We ran into all the challenges and the biggest one
00:01:18.200 is we were trying to run cold traffic to a purchase,
00:01:22.220 to an action to book a call and what I'm gonna walk you
00:01:26.440 through is the thinking behind Facebook that changes
00:01:29.500 everything when you start thinking of it as a funnel
00:01:32.340 and a remarketing campaign.
00:01:34.080 That's the big change.
00:01:35.080 And I'm gonna walk you through the specific audiences that you
00:01:37.620 should be building within your business to reduce and improve
00:01:41.920 your conversions, reduce your costs,
00:01:43.500 improve your conversions for your Facebook campaigns.
00:01:45.920 One, define your target.
00:01:48.460 Now, as you start with Facebook, the beauty and the challenge is
00:01:52.900 that it's got so many different data points.
00:01:55.360 You can essentially, and people are like,
00:01:56.960 well, B2B doesn't work for Facebook.
00:01:58.520 It's more for social and consumer stuff.
00:01:59.960 Not true.
00:02:00.840 You can focus on roles and titles of specific people
00:02:04.200 in an organization.
00:02:05.140 You can focus on interests that are specific
00:02:07.880 to your business customer.
00:02:09.140 You can focus on B2B as an interest category at a high level.
00:02:13.740 They have over 70,000 data points that they can use
00:02:17.440 to match those target audiences,
00:02:19.280 but the first thing is you need to know for yourself
00:02:21.920 who do you serve.
00:02:22.820 I, you know, trust me, I talk to dozens of new SaaS founders
00:02:25.960 every week and one of the three questions asked is what problem
00:02:29.620 do you solve, who do you solve it for and how do you solve it?
00:02:32.360 And when we get to the who, I can already tell the companies
00:02:36.700 that are struggling because they don't know who they serve.
00:02:39.880 It's everybody, small businesses, small businesses, period.
00:02:43.580 No vertical, no revenue range, no specific role at a company,
00:02:47.680 et cetera, you need to go niche.
00:02:49.920 You need to focus on who exactly you serve and figure that out
00:02:54.120 from a Facebook targeting point of view so you can at least at
00:02:56.800 a high level as you're building this funnel start focusing on
00:03:00.940 that cold traffic.
00:03:01.900 So that's one is you need to know your target audience.
00:03:05.600 Two, brand awareness campaigns.
00:03:07.940 So one of the fun things that I love about Facebook is running
00:03:11.640 campaigns just for brand awareness.
00:03:14.180 So here's the easiest thing you could do is take your five top
00:03:17.080 blog posts specifically that would attract your ideal
00:03:19.980 customer, don't just grab your most popular because you have
00:03:22.620 some viral posts that went on.
00:03:24.720 Think about the ones that your top customers would want to
00:03:26.880 consume and then just run Facebook ads and put those out
00:03:30.020 to the world, there's no call to action, no CTA, no link,
00:03:33.560 no nothing, it's just pure value and I do this with my
00:03:36.640 YouTube videos, essentially I'll run them on Facebook for pure
00:03:39.540 value, consume the videos, I spend that marketing dollar to
00:03:43.040 get as many views for as cheap as possible so the cheapest
00:03:47.080 CPMs and then what I do is I use that to create my second
00:03:51.620 level audiences so if you have content you can track if they
00:03:55.280 clicked and they interacted with it or watched a video more
00:03:57.300 than a certain percentage so anybody watched a certain video
00:04:00.020 for more than 50% that tells me they're an ideal customer for
00:04:04.360 my business or you can do the same thing for your product.
00:04:07.200 Number three, retarget specific pages.
00:04:10.900 If you've got your SaaS site designed properly and I have
00:04:15.140 this whole framework on what makes a perfect SaaS site.
00:04:17.900 I've analyzed over 1,200 different B2B SaaS companies.
00:04:21.020 At the end of the day, you can tag a visitor
00:04:24.720 to those specific pages.
00:04:26.020 The one that's a no-brainer that tells you somebody's in
00:04:28.420 market is if they visit your pricing page.
00:04:31.080 If they visit your pricing page, you should have a separate set
00:04:33.760 of ads specifically speaking to that customer because it tells
00:04:37.960 you they're in market.
00:04:39.240 So think about your site and if somebody was on a page,
00:04:42.500 If your site was like a physical retail space and you had
00:04:45.840 different rooms and you had like the pricing room,
00:04:47.640 you had the features room, you had the blog room,
00:04:50.740 you had the about room and you were in there,
00:04:52.740 what would you want to ask the person in that room?
00:04:55.880 What would you want the conversation to look like?
00:04:57.940 What do you think you would need to do to guide that person
00:05:01.160 into the checkout room to buy your product?
00:05:04.660 That's the way I think about tagging and creating audiences
00:05:08.800 for just the people that visit certain pages
00:05:10.600 like the pricing page.
00:05:12.500 Four, emails.
00:05:14.160 Now, one of the coolest features about Facebook,
00:05:16.400 if you didn't know that, is that you can upload a list of
00:05:18.940 emails and use that.
00:05:20.580 Facebook's gonna do all its magic wizardry and you can use
00:05:23.420 that to target ads to just people on that email list.
00:05:26.980 And the cool part, if you didn't know this, is you can
00:05:28.880 actually buy lists of companies in your space.
00:05:32.720 Now, you know, a lot of people argue the data quality and many
00:05:35.620 of them are not great.
00:05:36.820 You can build your own list using a scraper or hiring some
00:05:39.760 interns or people overseas that go through
00:05:42.260 Google, you know, whatever and just finds the emails and
00:05:45.020 build your own list but you can still upload them to Facebook
00:05:47.640 to create these audits.
00:05:48.800 The other ones is lead magnets.
00:05:50.340 So as people, you know, you run some ads against the lead
00:05:53.140 magnet, they download it, that's a converted email.
00:05:55.600 Take that email and put it in a different list to run kind of
00:05:58.780 what would be next.
00:05:59.580 If I have a lead magnet on this topic, what's my next ad?
00:06:02.640 And you create kind of a virtual funnel using Facebook.
00:06:06.180 And then finally it's just people in your trial.
00:06:07.760 If somebody's in a trial, they have a different set of
00:06:10.820 information.
00:06:11.380 You can actually like talk about specific features,
00:06:13.480 you can talk about hot buttons, you can do case studies,
00:06:15.820 all in ad format on Facebook to the users and only to them,
00:06:19.980 so very cheap, inexpensive on Facebook.
00:06:22.960 Super powerful using the emails, you upload them,
00:06:25.700 you create those lists and you can target different ad
00:06:27.820 campaigns specifically to those people.
00:06:31.000 Five best customers.
00:06:33.140 Now, this is the ninja strategy.
00:06:35.940 If you have, you know, ideally at least a couple hundred best
00:06:40.840 customers, so if you have 1,000 customers but you know 20% of
00:06:43.480 them are incredible.
00:06:45.080 These are people that bought fast, they had the need, the
00:06:47.980 product, they got it, it clicked and they spent the most money.
00:06:52.420 You grab just your best customers, a couple hundred
00:06:54.760 emails, ideally 500 if you got them.
00:06:57.480 Upload those up into Facebook and then Facebook will allow you
00:07:00.260 to do a thing called the lookalike audience and you can do a
00:07:02.260 lookalike audience on all of these campaigns and targeting
00:07:04.860 that I've mentioned so far which will tell Facebook to go out
00:07:08.260 there, here's the pool of people, go out there and find
00:07:10.840 other people that look like them from a, you know,
00:07:14.140 many different, you know, firmographic, demographic,
00:07:16.520 psychographic, likes, interests, et cetera.
00:07:18.540 Again, 70,000 data points.
00:07:20.280 They can do their math and figure out how to make that
00:07:23.520 happen but what's cool is you can optimize for different
00:07:25.760 things, engagement, conversions, et cetera.
00:07:28.160 So you put it on Facebook to go find other people but just
00:07:31.300 your best customers.
00:07:32.800 So this is just like a no-brainer.
00:07:34.800 Not a lot of people are doing it.
00:07:36.040 They could really help you attract very qualified people,
00:07:40.840 for inexpensive cost because you're being very deliberate
00:07:43.500 and focused on who you wanna attract.
00:07:45.340 So set that up for your best customers.
00:07:48.080 So quick recaps.
00:07:49.180 One, you wanna define your target audience.
00:07:51.220 Two, you wanna set up some brand awareness campaigns.
00:07:53.680 Three, retarget the specific pages on your site.
00:07:57.520 Four, emails.
00:07:59.260 And then five, best customers.
00:08:01.320 As I mentioned at the beginning of this video,
00:08:02.700 I wanna share an incredible resource
00:08:04.740 called the Churn Buster Cheat Sheet. 0.54
00:08:06.500 It goes over the nine different tools
00:08:09.700 that you need to start instrumenting and implementing
00:08:12.300 in your business to reduce your churn.
00:08:14.000 I know everybody wants to talk about top of funnel revenue
00:08:17.800 and growth and all that fun stuff,
00:08:19.280 but if you're in the SaaS business,
00:08:20.620 you know that churn is the ultimate number.
00:08:23.620 That churn percentage is the thing that's going to slow you
00:08:26.580 down from growing because you got to keep adding new customers
00:08:29.160 on a monthly basis just to deal with the ones that you lost.
00:08:31.720 So download by clicking the link below this video,
00:08:34.760 the Churn Buster Cheat Sheet to help you with that.
00:08:37.360 If you like this video, be sure to click the link
00:08:39.500 or the like button right below here.
00:08:42.260 Share it with somebody that you care about
00:08:44.340 that you think it could serve
00:08:45.600 and be sure to subscribe to this channel.
00:08:47.440 Thanks for watchin', I'll see you in the next video.
00:08:49.780 It's true, you know exactly what I'm talkin' about.
00:08:51.440 There's all these real estate agents,
00:08:52.440 their photos are 15 years old.
00:08:54.340 It's like, oh, wow.
00:08:56.080 Oh, hey.