The Truth About Why so Many Business Owners are stuck in the Small Details of their FB Ads account and get distracted from actually running their business.
In 2020 Facebook will remain the best ad platform to grow businesses, increase sales and make more money. In other words the FB Ads Manager is evolving fast and there is so much opportunity out there. Small to large business recognize this and many succeed but some people get stuck by managing ads the old way.
There are 2 types of FB advertisers:
Navigators: advertisers who spend time on Strategy, Content and Navigating their business.
Optimizers: advertisers who are spending hours a day optimizing their account.
We know how Optimizers spend their time:
While optimizers spend hours a day optimizing their ad account, smart advertisers navigate their business:
However, optimizing the small details in the account can generate some real gains. Therefore this tasks should be handed over to machines. Here is an article I wrote about Why Humans are not made to run Ads.
Solution 1: Hire a FB Ads Agency
Hire an Ad Agency that specializes in your niche, nut not a generalist agency. This would increase the chances of success. Make sure that you are getting the best team to work on your account and that you manage expectation with the agency in regards to performance, reporting and work.
CONS: High Cost + Performance is not guaranteed – if the project fails you have to pay the Media Spend and high fees.
Typically an Ad Agency will cost you 10-20% of your ad spend (Plus minimum fee of ~5k). Sometimes the Agency fees could be the difference between profitability and losing money so at some point it can become a burden on scaling. Furthermore you depend on them and they can easily increase the prices from one to the next month.
PRO: If you are lucky, you don’t have to worry about your Facebook Ads anymore.
Solution 2: Hire an In-House Media Buyer
Instead of paying an external agency, hire an in-house person that already has all the knowledge and the experience and has proven results in managing and scaling FB Ads.
CONS: Hard to find the perfect candidate. Good media buyers cost +100k annualy or already have heir own agencies.
PROS: No hidden costs, and no charge on Media Spend. Additionally this person can be responsible for the content strategy and work close with your creative team. In this case Creative Insights can be a real game-changer in understanding your content and giving clear briefs to videographers and content producers.
Solution 3: Use a Software like madgicx.com
Before hiring more people or agencies try to improve performance with advertising technology. Smartly.io, Albert.ai, Kenshoo Social, or Madgicx.com could all be great options. Within those tools, Madgicx has the quickest time to value (Time till you see Performance uplift). Within 2-3 days you should already see improved performances in your ad account by.
CONS: You need to be spending a minimum of +200/mo in order to enable the ML and Algorithms of Madgicx to work properly to achieve positive ROI on the tool.
PROS: Above all, time is your most expensive resource. If you’re spending over $200 on Facebook Ads a tool like Madgicx could save you a LOT of time and improve your PERFORMANCE dramatically