19 Apr 30in30: Facebook Advertising for High Ticket Items
In This Episode
We cover why Facebook Ads are perfect for businesses who sell high ticket products or services and what you need to know to maximise this opportunity with your campaigns.
If you market or sell products or services which have a high price tag associated with them, this post is for you.
What Is A High Ticket Item?
So to kick things off, I’ll explain what I mean by a High Ticket Product or Service. Typically this is a product or service that that has a healthy margin attached to it; more than $100 for products and usually more than $1000 for services.
Now an important note to make is that this profit doesn’t need to be made within the initial sale. If the average lifetime value of your customers is around these figures then you’re perfectly positioned as well to make the most from Facebook Advertising, there may however be a period where you are waiting to recoup some of the upfront cost of acquiring a customer.
Why Facebook Ads for High Ticket Items?
So why are these businesses so well positioned to use Facebook Ads? Simply put – it’s because you can afford to spend more to acquire a customer in the form of your cost per Lead or Sale.
To move someone through the purchasing process, from first becoming aware of a product or service, to considering the purchase, to finally taking action takes multiple interactions between the business and the prospect.
These interactions need to be managed by a smart, strategic combination of content and marketing messages which move a prospect through this process, building momentum towards purchase as you go. The higher the value of that sale, the more than you can invest to ensure that prospects are moved through this process effectively and at scale.
Here are the key things you need to know to see maximum results from your Facebook campaign:
1. Make Sure You Are Making The Most of Facebook’s Targeting Capabilities
From targeting levels of household income, to those presently in the market for particular goods and services, to those with a specific occupation – make sure you’re using Facebook’s powerful targeting features to get focused in on those who make the purchasing decision for your high ticket item.
2. Run Activity That’s Tailored To Where A Prospect Is In Their Purchasing Process
Make sure that your message is tailored to where a prospect is within the purchasing process.
Leverage retargeting to put different forms of advertising, like reviews or testimonials, in front of those at the consideration stage and offers to drive action from those ready to buy.
3. Understand That Social Wont Make The Sale For You
We’ve dedicated a whole 30in30 video to this point however it’s a crucial one.
Your Facebook campaign is a tool to identify and send qualified prospects to your business however it can’t do the heavy lifting of completing the sale for you.
We’ve sold purchases as larges as homes through our Facebook campaigns, however, underpinning the campaign is always a smart sales process or eCommerce experience. Make sure that before investing in your Facebook campaign, you’ve built a solid conversion asset and sales process to help turn a prospect into a customer.
In Summary: Add Facebook To Your Marketing Mix
So there you have it – If you market or sell products or services which have a high price tag associated with them, make sure you’ve included Facebook Advertising as part of your ongoing marketing activity.