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Our March 2022 Facebook Ads Tests (P.1)
We test a new type of offer
Here are the results of our latest test as of March 7th, 2022.
In January 2021, we introduced you to a sales funnel that works tremendously well for our infopreneur clients: Challenges.
Challenges allow you to sell excessively expensive products, which can be nearly impossible to do directly on Facebook. To understand why this is, let’s take a look at the Customer Journey.
To enter a Challenge, you pay and then have access to content for 7 days (for example) that guarantees a result 99% of the time. Satisfied with the result, the customer is more inclined to opt into the more expensive program (costing thousands of dollars) that follows.
We're talking about Challenges again today because we tested a brand new formula. Instead of charging $60, we asked participants to pay the amount they wished to pay. So 'Pay What You Want.' The whole funnel, afterward, remained the same.
We launched the campaign, and here are the results for our ‘Standard Challenge' (at $60 per entry) vs. 'Pay What You Want.'
Less prospects converted to the final program, but the final ROI was still substantial, and we were able to generate far more leads.
When we analyze the “paying” group versus the “free” group, here is what we find:
- Unsurprisingly, more paying leads converted to the final offer. This validates our theory that the more you pay, the more dedicated you are (to infopreneurship).
- However, surprisingly, the free leads generated an average purchase value $180 higher than paid leads.
Leads that didn't pay still converted and even exceeded the average value of leads that paid their entry fee! This is a sign that free doesn't necessarily mean poor results. In addition, our client generated 616 more leads than for his previous Challenge, which he will be able to convert using less expensive products.
If you're hesitating to test out this sales funnel, we suggest trying both approaches (paid and ‘free’). This will allow you to gather information about your community and at the very least, generate a ton of leads.
FB Ads: We test e-commerce offers
The Squad reporting for duty!
Here are the results of our latest test as of March 14th, 2022.
Recently, for one of our top-performing e-commerce clients that was celebrating its 2nd anniversary, we decided to run a series of offers over 4 weeks with the goal of generating as many sales as possible.
We implemented a similiar strategy back in December using an Advent Calendar and various other forms of content. Sometimes, you may have to create your own event or ‘holiday,’ or try to adapt your products to existing holidays as best as you can (even if you’re an e-commerce that sells rabbit food!)
Here are the 4 different offers we ran these last few weeks.
-15% on all blankets, -15% on all puzzles, -15% on dining accessories, -15% on all dolls
Note that each ad clearly features the offer, time limit, and respective promo code. We ran 4 simple offers of 15% off specific ranges of products. In terms of integration, we ran an acquisition campaign, a retargeting campaign (both ephemeral), and various ad formats (3 ads, including 1 image) for each offer.
Here are the results for weeks 1 to 3 (week 4: still pending!).
Note the progression for each campaign.
Here are our results for both campaign types
This test is interesting because we gained two things. First, knowledge of our market. Offer #1 worked very well, so we know we can use this range of products for future campaigns and offers. In terms of sales, Offer #3 comes in second place. Lastly, although Offer #2 generated a ROAS of almost 3, it is our weakest campaign for the moment. We know that alone, this offer wouldn’t be able to convince prospects to purchase a bundle. It would be too risky to lead with this campaign.
Important point: There is no significant price difference for the products featured in each offer.
The second thing we gained from this test is the ROAS for our retargeting campaign. Thanks to the budget allocated to this Flash Sale, the account took full advantage of the new traffic.
Results of the evergreen retargeting campaign
A 106% increase in ROAS in just 3 weeks, without increasing the budget, is an excellent result!
Thanks to this test, our client was able to identify their ‘winning’ products and can now continue to build successful campaigns around these products. If you want to try this test but are not sure if your products will sell, try running a Flash Sale over a shorter period of time. This will add an element of urgency to the offer, which can potentially benefit your sales!