Wednesday, September 23rd, 2020
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Social media dominates the present-day marketing landscape. More so, a platform like Facebook that gives you direct access to 2.6 billion people.
But is it actually worthwhile to use Facebook?
Facebook advertising has definitely increased in popularity, with an increasing number of businesses using the platform to gain new leads and stay connected to their existing customers.
Plus, there are solid stats that highlight how useful incorporating Facebook can be for your marketing strategy:
- A total of 1.6 billion users see Facebook ads, out of which 1.21 billion are between the ages of 13 and 34.
- An average Facebook user clicks on about 12 ads every 30 days.
- Approximately 80% of social reference to e-commerce sites stems from Facebook.
Converting visitors into customers should be super easy on the platform then, right? Sadly, this isn’t the case.
You see, all your marketing efforts will backfire if you don’t have a carefully planned Facebook ad campaign in place – one that is impactful and is supported by in-depth knowledge of the platform’s best practices.
There is no shortage of gurus who will run Facebook ads for you too, so how do you find somebody who will get you actual results?
Our team at Neil Patel Digital has created this handy guide to help you find the best Facebook ad consultant who knows what he’s doing, without wasting your marketing budget or talking in circles.
5 Ways a Facebook Ads Consultant Can Help Grow Your Business
You’ve heard of multiple businesses having success with Facebook and Instagram ads, but you haven’t been able to make them work for you.
So what went wrong?
If you want to explore Facebook as a means to advertise your products and services for maximizing sales and generating leads, you need an expert.
Developing a winning Facebook ad strategy comes from experience and expertise – something that a Facebook ad consultant can offer. After all, it pays to be really good in your chosen field and have a track record of success.
Here are a few ways in which a Facebook ad consultant that help grow your business:
Extremely Advanced Audience Targeting
If you consider yourself a savvy business owner, it’s natural you would want to take full advantage of everything that Facebook marketing offers.
This is precisely what a Facebook ad consultant can help you achieve.
Since consultants are experts, they can develop ads that target people by demographics, location, gender, income level, age, interest, education level, and behavior, among other factors. In fact, the expert will know targeting options that you may not have even heard of!
For instance: Did you know Facebook permits you to target an audience based on the recent purchases made?
Additionally, a consultant has the know-how to create custom audiences, lookalike audiences, and layer targeting options, each of which allows you to get very granular with your targeting.
Easy Adherence to Strict Facebook Protocols
Facebook is like a strict teacher from school who likes to maintain discipline and decorum.
The platform’s main lookout is to protect users and their sentiments so that they continue using Facebook. They don’t want them to be annoyed by frequent ads or get insulted by any sponsored post.
Basically, creating a Facebook ad that gets approved isn’t easy – you have to remember a lot of rules.
You can end up wasting a lot of time, with a serious threat of getting your account flagged if you aren’t careful.
Facebook rejecting your ads doesn’t necessarily mean that they were offensive or irritating. It’s just that they didn’t meet the intricate rules and regulations the platform has to protect its users.
But guess who knows all these rules and regulations? An experienced Facebook ad consultant.
They can use their expertise to create attention-grabbing ads that not only force the viewer to take action but also comply with rigid Facebook policies.
Help Boost ROI Through Remarketing
If this is the first time you’re hearing of remarketing or haven’t yet utilized this excellent tactic to manage your ads, hiring a Facebook ad consultant is definitely wise on your part.
Remarketing is a powerful way to target people who have already visited your website, which, in turn, can be useful for driving up your ROI. And not only website visitors, but you can also connect with those who have used your app or given you your email address.
The consultant takes advantage of these people who are already engaged with your brand, and hence, may only need a little bit of coaxing before they take the plunge and finally place their order.
To build your remarketing audience, they develop a system to tag your website visitors with a cookie.
Trust us, remarketing on Facebook can be very useful for increasing your revenue without breaking the bank. Facebook ad experts set up the whole system so you can continue to build your business around the clock.
Help Maximize Your Facebook Ads Budget
Your Facebook ad budget is a small part of your overall marketing budget.
If you plan on using paid ads, you might also be targeting customers on Instagram, Twitter, and Snapchat. Consequently, you cannot afford to waste your money on a single channel, as it’ll reduce your funds for other initiatives.
Since a Facebook ad consultant knows the ins and outs of the platform, the possibility of errors is considerably less when compared to an amateur. The former also use intelligent tactics to maximize budgets and conversions on ads sets.
For instance, most consultants increase ad set budgets by 20% every 2 to 4 days. This warrants a gradual increase, which doesn’t trigger a new learning phase, ensuring more stable performance. While it’s true that growing the budget does take time, your ad set life will be longer with fewer performance dips.
Efficient Scaling of Facebook Ads
Scaling Facebook ad campaigns is very challenging, mainly due to the dynamism of the platform.
You need to constantly update your strategies and tactics when making changes in Facebook’s Ad Manager, and manage ad creatives. In short, it’s a continuous cycle of developing winning campaigns and fighting ad fatigue.
Any reputable consultant is well-versed in tactics that can make the process more streamlined and effective. Some of these tactics include:
- Using automated rules for scaling
- Duplicating successful ad sets
- Securing the lowest manual bid
- Adjust your ad set budget according to performance
In short, they take care of everything.
Think of the consultants as Michelin Star chefs that have their own unique recipes for their client’s campaigns. They are ready to experiment, make mistakes, analyze, and automate, which ultimately boosts your business growth.
How to Get Started With a Facebook Advertising Consultant
Now you know you can grow your business by hiring an expert with Facebook ads.
The next step is to figure out how you can get started with Facebook advertising consulting.
Just throwing money at the problem and hoping for the best isn’t a good strategy. You require a clear road map that illustrates your end goal, along with milestones that can guide you to stay on the right track.
We’ve compiled a list of steps below that can help you make sure you have the right person or people managing your account.
Find and Hire the Right Facebook Ad Consultant
Having the right person manage your ads account is like that essential puzzle piece of a puzzle that completes the whole picture – without it, it‘ll remain incomplete.
Before hiring anyone, make sure you do your best in researching and looking at the credentials of prospective candidates.
The following are a few ways to determine the capabilities of the prospect:
- Ask to see their past portfolios and results they have previously achieved for other clients.
- Find out whether they are familiar with your target audience and style.
- Good communication skills and a pleasant personality so you can express your wants without hesitation.
Another alternative is to use online hiring platforms, such as Upwork, Freelancer, and Reddit. Here, you can either post a detailed project description of what you need to be done or choose a freelancer profile from these marketplaces.
Seasoned consultants, which we highly recommend, usually ask potential clients to fill an inquiry form, and then schedule a call for a discovery call.
Hold Meetings to Set Out Expectations
Once you’ve selected your expert consultant, you should hold frequent meetings to discuss your goals and budget. They should know what you expect from the Facebook ads, how you want them to perform, and how often you would review or tweak them.
Even the expert should be aware of your vision and budget constraints within which he has to operate. Thanks to their experience, the consultant will help you set your goals, but the overall objectives should always come from you since it’s your company at the end of the day.
Remember, your expert wants you to be crystal clear about your expectations and the amount of money you’ll be comfortable spending on your advertising.
Review the Growth Game Plan
The fact that you hired a Facebook ads consultant means you want your business to grow.
You want to use their expertise in Facebook advertising and take advantage of their knowledge. So you should give them the flexibility to come up with a game plan for your advertising campaign. Let the consultant work out the details based on your input.
You can then schedule a detailed review of the game plan before giving the go-ahead. Make sure that you’re on board with all the decisions before the campaign goes live.
Get the Ball Rolling
The learning curve is a part of advertising – be it Facebook or any other social media platform.
There is no guarantee that your first ad campaign will be successful or as lucrative as you wanted it to be.
The funny thing is that it’s a good thing.
The first few weeks after your campaign goes live is a learning stage where you and the consultant get an idea about who engages with your business and how you can adjust your strategies to increase ad appeal.
Hence, don’t be afraid to set your plan in motion. The valuable data you get after the launch is the key to future success.
Monitor Results and Adjust Budget Accordingly
Never max out your budget before reviewing your ad campaign performance.
The Facebook ad consultant will collect, analyze, and provide you with all the relevant data about the campaign. He or she will also suggest tweaks that can help your ads perform better.
After implementing the suggested adjustments, you can work on incrementally increasing your budget. Even when your ads start performing better, you should continue monitoring and making adjustments over time.
The aim is to keep improving your ad strategy always, and the expert should be able to take care of this for you.
Measuring the ROI of Facebook Advertising Consulting Services
Let’s assume you hired a Facebook ad consultant, and have launched your first campaign.
How do you know you made the right choice with the candidate? Or are the ads effective in driving leads and sales?
The only way to find out whether your campaign was a success or not is to measure the ROI.
Ask yourself the following questions:
- Are you okay with only building your list with no return on your ad spend for now?
- Is your strategy to just break even with your tripwire?
- Do you want to prioritize building your email list for a future launch?
- Do you have any return expectations? Say for every $5 you spend, do you expect to make at least $10?
Once you figure out the answers to the above, talk to your consultant about the same.
Ask the expert what increase in revenue you can expect in the first month of launching the campaign, and in case the ad performs poorly, what remedial measures would they take to ascertain a consistent ROI.
Measuring the ROI of your Facebook ads is dependent on the following data:
- Connections or leads
- Cost per lead
- Cost per customer
Tracking ROI from social media can be a nightmare. But having a consultant on board equips you with the right knowledge about variables and tools that can simplify tracking, cost association, and revenue measurement.
Your ROI will tell you whether you’re getting results or not, providing you a bird’s eye view of the whole campaign.
4 Point Checklist for Finding the Right Facebook Ad Consultant
Are you wondering how to hire the best Facebook ad consultant for your brand that understands your requirements and can successfully deliver results?
Below, we‘ve created a detailed checklist to help you walk through the entire hiring process.
Objective Advertising Expertise
To get results on Facebook, you need to create impactful ads that can deliver results.
Hiring a consultancy can be your first step to ensure this in case you don’t have first-hand knowledge about how things work.
Whoever you choose to be a consultant should have the skills to help you meet your goals – Whether it’s generating revenue, locking in more leads, or getting more click-throughs.
A dead giveaway for this? Having an exciting portfolio that boasts of successful companies and brands.
A Facebook advertising consultancy that has worked with diverse clients will understand the nuances of creating ads that leave a stronger impact on the viewer.
Look for Relevant Experience
As mentioned before, the marketplace is filled with freelancers claiming to be the best, but only a select few have the experience and expertise to back it up.
A Facebook advertisement consultancy should have the brain and muscle to guide you through the process and help you attain your business goals.
So whether it’s an individual or a team, make sure they have the experience and knowledge to create and maintain successful ad campaigns. Figure out the following questions:
- How long has the consultant been creating Facebook ads?
- Has the consultant worked with clients in your industry?
- How do they handle communication and reporting of the campaign?
- What do they do when the campaign results are poor?
The consultant should have a hands-on approach for advanced audience targeting, customer engagement, and eye-catching copy creation.
Well-Versed in Copy and Analysis Best Practises
Advertisement consultancies should be familiar with the latest Facebook advertising software and tools – pretty much anything required to ensure the job gets done and gets done well.
For Facebook, in particular, expert knowledge about Facebook Ad Manager, Facebook Pixel, and Power Editor is crucial. This gives better access to data that can be used to create creative and effective advertisements to increase popularity and promote growth.
Find Out What Others Say About the Consultant
Your chosen consultant should be experienced and have a good reputation.
Look for social proof like previous client reviews and testimonials to gauge the overall capabilities of the prospective candidate. This will help you understand more about their work ethic and determine their suitability for your company.
96% of customers go through testimonials before making a purchase decision since it indicates a higher possibility of a similar experience in the future.
Moreover, having plenty of testimonials means the consultancy has been consistently delivering positive results.
You’re at a higher risk of losing money when you don’t know how Facebook advertising works.
Hiring a consultancy gives you access to the right knowledge and experience. From identifying targets, running ad campaigns, and monitoring results, a Facebook ad consultant will take care of it all.
So yes, choosing to work with a reputable team of expert consultants is undoubtedly the best way to maximize results on Facebook and reduce the risks of spending thousands of dollars in vain.
Covid-19 has turned the world topsy turvy. There is no way around it. Most businesses need a little extra financial cushion at the very least. Most need much more than that. What happens in this post COVID-19 economy is literally unfolding as we watch. A commercial line of credit could be just the thing to keep your business going during a recession.
Get a Commercial Line of Credit Fast
The thing is, most business owners need money right now. That means you need the fastest, most cost-effective commercial line of credit that you can get. Why a line of credit rather than a loan? There are a few reasons, but one main reason.
Commercial Line of Credit vs. Loan
The most basic definition of a commercial line of credit is that it is a revolving credit, similar to a credit card. You have a limit and continuous access to that limit while making payments only on the portion you use each month.
For example, if you have a $10,000 line of credit, you can use however much of those funds you need each month for whatever you want, unless your lender issues some sort of restriction. If you use $2,000, then when you get your statement you will have to pay $2,000 plus the interest, rather than a payment plus interest on the entire amount of the loan.
If you were to pay $1,000, then spend another $500, you would pay on the $1,500 balance the next month. Your payments change as your balance changes. Just like with a credit card.
What is the advantage of a line of credit over a term loan? Flexibility, hands down. With a line of credit, you do not have to repay or pay interest on any amount that you do not use. You have access to the funds as needed, but you do not have to repay the entire amount unless you use the entire amount.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
Commercial Line of Credit vs. Credit Cards
Now, you’re probably thinking that credit cards are super easy to get, and they work the same way. It’s revolving credit. You only use what you need. You only pay back what you need.
Why is one better than the other? In some cases, a credit card may be the better option. This is a choice to make based on several different factors.
The main difference between the two that most borrowers need to know is that a line of credit typically has a lower consistent interest rate. However, there are no perks like 0% interest or cash back that you sometimes see with credit cards.
Another benefit with a credit card is that it is typically unsecured credit, meaning you do not have to have collateral. Many credit lines do require security, or collateral.
Middle Ground: Credit Line Hybrid
There is middle ground between unsecured and secured credit, and between a commercial credit line and credit cards. It’s called a credit line hybrid. A credit line hybrid is revolving, unsecured financing that allows you to fund your business without putting up collateral, and you only pay back what you use. It’s quickly accessible, lower interest, and high limit. It’s the best of both worlds.
Who Qualifies for this Type of Commercial Line of Credit?
Who qualifies for a credit line hybrid? Well, if you have a personal credit score of at least 685, you’re off to a good start. In addition, you can’t have any liens, judgments, bankruptcies or late payments. Furthermore, in the past 6 months you should have less than 5 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards. It’s also preferred that you have established business credit as well as personal credit.
If you do not meet all of the requirements, it’s okay. You can take on a credit partner that meets each of these requirements. Many business owners work with a friend or relative to fund their business. If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding.
What are the Benefits of This Type of Commercial Line of Credit?
There are many benefits to using a credit line hybrid. First, as already mentioned, it is unsecured. That means you do not have to have any collateral to put up. Next, the funding is “no-doc.” You do not have to provide any bank statements or financials.
Not only that, but typically approval is up to 5x that of the highest credit limit on the personal credit report. Furthermore, frequently you can get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business.
The process is pretty fast, especially with a qualified expert to walk you through it. One other benefit is this. With the approval for multiple credit cards, competition is created. That means it’s likely if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months.
Private Lenders: Another Way to Get a Commercial Line of Credit Fast
Private lenders generally operate online. They typically offer lines of credit to those with credit scores that are lower than what is generally required by traditional banks. In addition, often you can get the funds within a few days of application, rather than a few weeks. Here are a few examples.
Kabbage offers a credit line of up to $150,000 with no credit score required. The catch is that the interest rate is between 32 and 108%. The business must have been in existence for at least one year and have revenue of at least $50,000.
Due to the extremely high interest rate, this is really only an option for those businesses that cannot get financing due to a low or nonexistent credit score and need something immediately.
The credit line that StreetShares offers goes up to $100,000 for those who have a business credit score of at least 600. You also have to have been in business for at least one year, and have at least $25,000 in revenue. It requires weekly repayment.
This is a good option for smaller businesses that are okay in the credit department but have trouble meeting higher revenue criteria. Also, the interest rate minimum is lower than some. The low end at 9%.
If you have a credit score of at least 600 you can get a credit line of up to $100,000 with OnDeck . The interest rate is a little higher than some that require a higher credit score minimum. It ranges from 13.99 to 39.99 percent.
Again, due to the higher interest rate, this should only be an option if you cannot meet the higher credit score requirement with a lender that offers a lower interest rate.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
The credit line at Lending Club goes up to $300,000. It requires a credit score of 600, at least one year in business, and $50,000 or more in revenue. The repayment term is 25 months. In addition, they require collateral for limits over $100,000.
This is a good option for those who meet the requirement as there is a higher limit available with collateral, and the interest rate can go as low as 6.25%. Also, the repayment terms are more manageable.
Credit Card Options
Of course, while not the perfect solution, credit cards are an option. You have to be careful, and you want to research to ensure you get the best rates and terms possible. Here are some to start with.
Brex Card for Startups
The Brex Card has no yearly fee. Also, you will not need a personal guarantee. However, this card does not work for every industry.
To determine creditworthiness, Brex checks a company’s cash balance, spending patterns, and investors. Rewards include 7x points on rideshare and 4x on Brex Travel. Also, you can get triple points on restaurants and get double points on recurring software payments. Get 1x points on everything else.
Capital One® Spark® Classic for Business
The Capital One® Spark® Classic for Business is another good one to consider. It has no annual fee, but there is also no introductory APR offer. The regular APR is a variable 24.49%. However, you can get unlimited 1% cash back on every purchase for your company and there is no minimum to redeem.
While this card is within reach if you have fair credit scores, beware of the APR. If you can pay promptly, and completely, it’s a good deal.
Ink Business Unlimited℠ Credit Card
The Ink Business Unlimited℠ Credit Card has no annual fee and a 0% introductory APR. After that expires, the APR is a variable 14.74 to 20.74%.
Earn unlimited 1.5% cash back rewards on every purchase made for your company and get $500 bonus cash back after spending $3,000 in the initial 3 months from account opening. Rewards rewards for cash back, gift cards, travel and more using Chase Ultimate Rewards®. You will need superb credit to get approval for this card.
Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express has no no annual fee and either, and it also has a 0% introductory APR for the first year. After that, the APR is a variable 14.74 to 20.74%.
Get double Membership Rewards® points on everyday business purchases like office supplies or client dinners. This applies to the first $50,000 spent each year. You get 1 point per dollar after that. Your credit has to be really good to qualify.
American Express® Blue Business Cash Card
Another one to check out is the American Express® Blue Business Cash Card. It is identical to the Blue Business® Plus Credit Card from American Express. However its rewards are in cash instead of points. You get 2% cash back on all eligible purchases up to $50,000 per calendar year. After that, it’s 1%.
There is no yearly fee, and there is a 0% introductory APR for the first one year. Afterwards, the APR is a variable 14.74 to 20.74%. You will need awesome credit to qualify for this card.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
Capital One ® Spark® Cash for Business
The Capital One® Spark® Cash for Business card is another great option. It has an introductory $0 annual fee for the first year. After that, it costs $95 per year. There is no introductory APR deal. The regular APR is a variable 18.49%.
You can get a $500 one-time cash bonus after spending $4,000 in the first 3 months from account opening. Also, you get unlimited 2% cash back. YOu can rRedeem any time without any minimums. You will need fabulous credit scores to qualify.
Discover it® Business Card
Another good one is the Discover it® Business Card. It has no yearly fee. There is an introductory APR of 0% on purchases for twelve months. Then, the regular APR is a variable 14.49 to 22.49%.
You get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. Also, they double the 1.5% Cashback Match™ at the end of the first year. There is no minimum spend requirement either.
You can download transactions easily to Quicken, QuickBooks, and Excel. This one also requires great credit scores.
The thing with credit cards is, you have to be so careful. As with all debt, payments must be made on time. However, the higher interest rates make this a little harder than it typically is with a commercial line of credit.
A Commercial Line of Credit Can Help You Right Now
In this post COVID world, most business owners need money fast. A commercial line of credit is the best way for that to happen, especially if you can get a credit line hybrid. Truly, with the ability to use a credit partner, virtually everyone can access this type of funding. It’s low interest, high limit, fast access to the funds you need to make sure your business thrives regardless of the state of the economy.