Let’s all agree, from this day forward, to stop using the term “media buying“. I know that’s blasphemous in some circles, but trust me, this is important.
‘Back in the day’, traffic was cheap and the whole point of paying for traffic (aka buying media) was to get prospects to a landing page. Preferably a bare-bones ‘squeeze page’ with a big promise and an opt-in (until Google pulled the plug on that model and entire businesses disappeared overnight).
Then, once someone opted in, turn on the email gauntlet and watch the dollars flow (or trickle).
Traffic volume was the name of the game because clicks were cheap and 1% conversion rates worked economically. List fatigue wasn’t a significant concern because there were always more cheap clicks to buy.
No one really cared that 90% (or more) of ad spend was wasted and low — single — digit conversion rates were the norm. The whole system made money even when most of the system’s parts were conceptually broken.
Here’s the problem — the days of cheap traffic are long gone, and they’re never coming back. Those $.06 clicks are now several dollars each, and 1% conversion rates just don’t work in that environment.
Fortunately, the solution is straightforward — make traffic part of the funnel, not an afterthought.
Instead of creating an offer, building a funnel, and then “going to the traffic store” (Ryan Deiss’s description of paid traffic), think about where you’ll get traffic before creating the offer and the funnel, and plan accordingly.
For example, if someone is standing in their rain-soaked living room searching for roof repair near me, I think it’s safe to say they don’t want to opt-in for a “Five Ways to Save Money on Your Next Roofing Project” lead magnet. Instead, mention 24-hour emergency service and include a phone number in the (search) ad!
Conversely, if you’re selling a $297/month subscription on Facebook to people who aren’t actively looking for what you have to offer, be prepared to entertain, educate, and inform in ways that are interesting and credible to your audience (most likely over days/weeks/months).
[I’m going to share some ideas to do this effectively on day five.]
There’s one very important caveat to mention. There are many successful businesses that continue to use the media buying model (offer first, bolt on traffic later). I’ve seen Facebook, Google, and other accounts spending enormous sums of money using this model and yes, it continues to work for some businesses.
However, the writing is on the wall, and if you spend enough time inside these businesses you’ll hear the fear and concern. (And, occasionally, panic.)
Google and Facebook have made the strategic decision that they can thrive financially without relying on businesses that make over the top claims or have sketchy, aggressive business models. That’s the new reality and, as a Facebook rep told me quite recently, “yes…we’re looking much more closely at certain verticals…”
Take my advice — do the harder thing now and start incorporating the source and intent of your prospects as integral parts of your offers/funnels. That will make everything easier later (and produce much better results in the short-term too).
Now, let’s talk about your homework.
Pick one offer you’re running or planning to run (or a client’s offer if you’re a freelancer or agency), and make three lists.
List #1 is all of the reasons someone might benefit from your offer. Be very specific, and ask (and answer) “why” several times for every item on the list. Write out each answer (yes, you’ll have a long list), and then put an asterisk next to the top 5-7 when you’re finished.
List #2 is harder — believe me, it’s worth it. Make a list of all the reasons why someone might not want to engage with your offer (not your product/service — the offer itself). For example, if you require an opt-in for a 45-minute webinar, your list would include reasons like “prospects don’t want to give their email address”, “prospects don’t want to sit through a 45-minute webinar”, and “prospects don’t want to watch a webinar on their mobile phone”.
List #3 is even harder (remember — we’re friends — you can trust me). Make a list of all the ways in which someone could sabotage / undermine the value your product/service provides. For example, if I were making this list for my agency business, I would include the following:
- “Second guessing decisions because of something they read/heard online”;
- “Focusing on methods instead of results”;
- “Micro–managing the process”; and
- “Relying on opinions instead of data for decision–making”.
You’re going to use these three lists to write an ad so take this work seriously!
NEXT: Quality, Then Quantity