Paid Ads for Wealth Creation

Jul 12, 2024

Paid Ads for Wealth Creation

Overview

  • Transitioning from: Cold Outreach, Warm Outreach, Posting Content
  • Focus: Paid Ads for cold audiences (led to half the lecturer’s wealth)
  • Goal: Teach effective use of paid ads

Lecture Recap

  1. Warm Outreach: One-on-one with known contacts
  2. Content Posting: One-to-many with known contacts
  3. Cold Outreach: One-on-one with strangers
  4. Paid Ads: One-to-many with strangers

Paid Ads

Key Concepts

  • Definition: Ads shown to strangers via paid platforms
  • Audience: People unfamiliar with your brand
  • Platforms: Facebook, Instagram, YouTube, LinkedIn, etc.
  • Objective: Monetize a larger, cold audience instantly

Paid Ads Benefits

  • Reach: Guaranteed reach because you pay for it
  • Efficiency: Measure how effectively you monetize from the audience

Challenges

  • Correct platform choice
  • Targeting the right audience
  • Crafting effective ads
  • Securing future contact permissions

Platform Selection

Criteria

  1. Personal Use: Familiarity with the platform
  2. Audience Targeting: Ability to match the platform's targeting tools with your needs
  3. Ad Format: Ad type suitability (images, text, video, etc.)
  4. Budget Fit: Platform's minimum spend requirement

Strategy

  • Model after Competitors: Observe and utilize competitor's ad placements
  • Action Steps: Start with a familiar platform, study ads, and create based on observed patterns

Targeting the Audience

Techniques

  1. Look-Alike Audiences: Based on lists of customers or leads
  2. Demographic Filters: Age, gender, income, interests, location, etc.

Strategy

  • Combine look-alike audiences with specific filters
  • For local businesses: Minimal filters due to already small reach
  • Action Steps: Aggregate lead lists, create look-alike audiences, and apply relevant filters

Crafting Effective Ads

Key Elements

  1. Call Out: Hook attention
  2. Value: Provide compelling benefits
  3. Call to Action (CTA): Direct next steps

Strategies

  • Attention Grabbers: Labels, yes questions, if-then statements, and ridiculous results
  • Ad Simplification: Use a framework (hook, value, CTA)
  • Pro Tips: Record multiple hooks and mix with the main content for variety
  • Effective CTA: Clear and simple actions

Value Presentation

Components

  • Benefits: Dream outcome, ease, speed, likelihood of success
  • Costs: Pain of inaction, risk, effort, sacrifice
  • Perspective: Describe from multiple viewpoints (self, spouse, kids, etc.)
  • Timeline: Past, present, and future implications

Strategy

  • Provide a holistic view combining benefits and costs
  • Pro Tip: Make ads highly specific yet concise

Gathering Contact Info

Techniques

  • Landing Pages: Simple, direct, and matching the ad’s tone and style
  • Formats: Basic page structures with headlines, images, bullets, or forms

Strategy

  • Match the landing page with the ad in terms of color, wording, and visuals
  • Start simple, then adjust for higher conversion or better qualification

Action Steps

  • Create and launch your first landing page

Conclusion

  • Successfully engage leads through efficient and well-targeted paid ads
  • Focus on constant iteration to improve reach and conversion

Next Steps

  • Measure and analyze ad efficiency to refine strategy further