Do you ever run Facebook campaigns that end up costing more than you think they should? Then watch the Journey, Social Media Examiner’s episodic video documentary that shows you what really happens inside a growing business.
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In episode 7, Michael Stelzner (founder of Social Media Examiner) and his team analyze what worked during their launch week and begin exploring new ideas. The team also prepares for a big launch of season two of “The Journey.”
The show opens with the team two and a half days into the launch of Social Media Marketing World. Despite a successful day, Mike and marketing manager Jennifer Ballard share concerns over the expense of the Facebook ads.
Mike checks in the marketing manager Kim Reynolds to get her input.
The first week of launch is usually the least expensive (with regard to ad spend) and Kim Reynolds was expecting a Cost Per Acquisition (CPA) of $50. The Actual CPA: $200!
Kim thinks the higher cost points to a weak Call to Action (CTA) in the ad, but Mike disagrees. He points out that a weak CTA wouldn’t yield clicks and suggests the issue is related to ad spend. Mike tasks Kim with digging into the budget spend to reveal ad performance patterns.
Kim and Mike meet with Jennifer to share their findings. The ‘convince the boss’ ad, which leads to a page of tips to help hopeful attendees make the case for coming to Social Media Marketing World, is converting best.
While other ads aren’t yet converting, Mike and Kim agree to keep the ads running through the end of the week.
Next up is the launch debrief meeting.
Mike shares that the team just completed the most successful launch week in the history of the company. A significant 250 physical tickets were sold in a single week, and Jennifer adds that an additional 115 virtual tickets were sold.
Kim reports that the average Facebook CPA leveled out at $150. Mike says the good news is the ads are converting. The bad news: the CPA isn’t sustainable.
When Kim points out that the ads that did convert, did so at an inexpensive CPA, Mike wonders how much revenue was brought in from the converting ads. The team heads to his computer to find out, and he sees a problem.
Because the company is offering some cheaper ticket options and the Facebook CPA is high, the combined revenue from Facebook ad sales isn’t what the team expected.
He directs Kim to do some deeper analysis on the revenue and quantity of ticket types sold by each Facebook ad.
On the affiliate side of sales, Mike shows the team that Andrea Vahl is crushing it and notes that Madalyn Sklar is on the board as well. To cultivate the affiliates’ continued involvement, Mike asks Kim to come up with some ideas to keep them active and excited.
Later in the week, Mike is excited about a new Facebook ads design feature (Create to Convert) that could alter the way the company does its advertising. He brings the marketing team in and shows them an ad image that has motion behind it. Facebook says campaigns using this type of image convert at a 17% higher rate than campaigns using a static image.
Mike quickly brainstorms uses for this ad feature and the team sets testing in motion.
Finally, it’s launch time for season two of The Journey. Mike pauses the conference strategy and puts all resources into promoting the show.
During a call, Social Media Manager Erik Fisher confirms that the social team is ready to promote the show on Monday when it publishes. He’s also tested Facebook Premieres for a video that isn’t live and engagement results were promising. A decision is made to schedule a test Premiere for the first episode of season two the day before the show publishes.
Later, Mike opens up about The Journey itself and confirms it’s the single most expensive marketing initiative in the company’s history.
He shares that some people inside the company viewed the show solely as a vlog but he’s helped them to understand how important it is to the mission of Social Media Marketing World. Subsequently, the team has come together to improve the way the show is produced, promoted and distributed. Mike is thrilled with his team’s responsiveness.
His only unfulfilled wish? To see The Journey on Facebook Watch.
The show ends with Jennifer Ballard voicing concerns over unmet sales goals.
What ideas do you have to help Mike and his team promote the conference? Share your ideas and thoughts in the comments below.
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