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L – Latest News
Instagram’s changing things up and rebranding Branded Content Ads to Partnership Ads!
This means more opportunities for brands and creators to partner up and create killer content together. So, if you want to up your ad game and get those click-through rates soaring, read on! Don’t be left in the dust, join the partnership ad party!
Instagram and Facebook are taking it to the next level with Reels!
They’re bringing AR Ads to Reels and Facebook Stories, making it easier for advertisers to reach their audiences with augmented reality and create unforgettable experiences! Don’t miss out on all the Reels action, read on and get ready to create some killer content!
LinkedIn is at it again!
This time, they’re experimenting with generative AI prompts for posts. That means you could get AI-generated suggestions for a first draft of your next LinkedIn post.
A – A.I. For Growth
A.I. Prompt of the Week
Prompt Objective:
- Identify primary pain points and frustrations of your audience
Prompt Outline:
I want you to act as an expert market researcher and audience profiler.
My product/membership is {…..}, and it helps people do {….}.
My avatar is {….}
Please identify the 5 major pain points and frustrations experienced by my avatar.
For each pain point or frustration please elaborate what is keeping them stuck or preventing them from taking action.
Please also provide an overview of what they think the ideal solution is.
Prompt Use Case
- Avatar research
- Content creation
- Post opt-in email sequence creation
- Offer page copy creation
- Pre-launch workshop content identification
- Course and membership content creation
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U – Uplevel Ads
One size does not fit all.
Proof that there is more than one way to skin a cat this week with an interesting approach from Mastin Kipp.
Mastin is a well-known personal development coach. He has a range of online courses, live events, and retreats.
I spotted he is running a 10-day challenge from May 17th – 25th.
I decided to investigate!
Mastin has a large Instagram following of 280k people.
But, I knew from an earlier funnel deep dive that Facebook Ads weren’t his #1 way of promoting his business.
Here’s what I found:
This is clearly an organic Instagram post being run as an ad. Because there is no call to action button, it is likely a boosted post. I strongly advise against this method, but that’s a topic for another day. We can tell the ad is being run solely on Instagram as it doesn’t have a link in the copy, and it directs people to Click the link in the bio for further information.
3 Elements To Inspire Your Ad Campaigns:
- If you spend time and money creating content, why not put some ad spend behind it? One simple strategy is to take your 3 best-performing organic posts every week and put $10 – $20 behind them. It will grow your audience, following, and reach. Social may be free, but creating content isn’t. So if you calculate the cost of creating posts spending an additional $60 per week to get the most return from them just makes sense.
- Engagement can reduce your CPM significantly. If you have a lead generation or sales ad you know will perform well, run it with an engagement objective first to get likes and comments (bonus points if you can target your existing customers). Then, use the ad/post ID in a lead or purchase conversion ad.
- Try different things. I don’t think this ad will directly result in many Challenge registrations. However, I think it will bring many new people into Mastin’s world. If Mastin has a deliberate strategy to convert people from Instagram followers to clients, this is a great strategy. I am a big fan of following best practices…. until I don’t. If you are experimenting, do it with a limited budget and never have a financial outcome dependent on an experiment.
Swipe:
- SWIPE FILE – 0048 – Mastin Kipp – Facebook Ad to Challenge
N – Now Launching
One of the biggest problems for people in the Personal Development space is making their promise concrete and specific. Healing your past, aligning with your purpose, and unlocking your potential is great, but I don’t really know what that means.
Further, there is no transformation anywhere in the above-the-fold section. This leaves it up to my audience to imagine what life will be like for them once they achieve all these things.
From a positioning and messaging perspective, this message will only resonate with solution or product-aware people. And that is fine if you have a big audience, but if you have a small audience, it’s possible you won’t have enough of those people to make it work.
Mastin is massively successful, and I know he will fill this challenge and get massive results for the people who attend. And I also feel for the people who don’t have Mastin’s audience and struggle to get the results they want.
If Mastin was here, he would argue that to be any more specific would devalue and dilute the magic of what he makes possible for people.
The takeaway for you if you are in the Personal Development space. How can you make your promises as concrete and specific as possible while holding true to your principles and mission?
Oh, and I love this section for the bottom of a free opt-in page where the “Buy Now” block would normally go on a sales page!
Swipe:
- SWIPE FILE – 0048 – Mastin Kipp – Challenge Opt-in Page
- SWIPE FILE – 0048 – Mastin Kipp – Challenge Opt-in Page Pop Up
- SWIPE FILE – 0048 – Mastin Kipp – Challenge Upsell Page
C – Conversions
Profitable front-end Facebook Ad campaigns may be killing your business.
If you sell digital products and you only focus on front-end profitability you may be destroying your long-term growth.
So the question becomes, how do I pick the best Cost Per Acquisition for me?
Let’s dive in:
Course creators & membership site owners, are you ready to discover a formula to calculate the optimal Cost per Acquisition (CPA)? It’s not just about front-end profitability but also considering long-term gains.
The Optimal CPA Formula:
Optimal CPA = (Customer Lifetime Value – Desired Profit) * Conversion Rate
By taking into account Customer Lifetime Value (LTV) and desired profit, you’ll find the perfect balance between initial acquisition costs and long-term revenue.
Example:
LTV: $2,000
Desired Profit: $1,000
Conversion Rate: 5%
Optimal CPA = (2,000 – 1,000) * 0.05
Optimal CPA = 1,000 * 0.05
Optimal CPA = $50
In this example, the optimal CPA is $50, meaning you can spend up to $50 to acquire customers while still maintaining your desired profit.
This approach helps you look beyond front-end profitability and consider the entire customer journey. By focusing on long-term revenue, you’ll be able to scale your campaigns more effectively and outpace competitors who only focus on immediate gains.
RECAP: Calculating the optimal CPA helps you strike the perfect balance between acquisition costs and long-term profitability. Use the Optimal CPA Formula to make informed decisions about your ad spend and boost your digital product sales.
H – Hot Take
It’s not a matter of if. It’s only a matter of when. As long as you don’t give up.
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