Erich Stauffer

Tag: Advertising

  • The Average Cost of a Like on Facebook

    What’s the average price for a Facebook like using Facebook advertising?

    Below are some real examples from ads I’ve ran on Facebook for three different Facebook pages. The first is an example of a poor (expensive) rate. It averaged $1.12 per page like.

    2014-04-08 08_26_26-Ad Set Summary

    There are several reasons why this rate was high:

    1. The pictures I used did not match the value proposition of the page I was asking them to like. They were randomly selected images.
    2. The ad copy I used was vague. It simply asked the user if they liked to learn online and if so, to like the page if they liked “learning online”.
    3. The page itself had little content. There were 4 posts over 3 years and one had to do with learning “how to make Mexican food”.
    4. The target audience and the content were out of sync. I was targeting business owners. They might not like to learn online.
    5. The budget was too small ($10/day). I have seen a lower rate for likes when the budget is higher because it is shown to more people.

    Next is an example of a low (good) rate. The goal is to get down to around $0.10 (10 cent) likes. This one got down to $0.16 per page like with a budget of $7.00 per day.

    2014-04-08 08_37_21-Campaign Summary

    There are several reasons why this rate was low:

    1. The target audience was clearly defined. I used marketing data from magazines to create a target demographic.
    2. The image used matched the audience. I used a picture of a woman that looked like the target demographic holding the product.
    3. The message matched the page. I asked people if they liked coconut oil and the page was about coconut oil.
    4. The page had a lot of content. Once visitors landed on the page they could see that it was about coconut oil.
    5. The page already had a lot of likes. People like to back winners (like attracts like).

    What’s the average cost of a Facebook like?

    $2000 was spent on multiple campaigns for multiple Facebook pages to get new likes, boost posts, and experiment with website ads (links from Facebook to outside Facebook) and so I now have an idea about what things should or should not cost. The average Facebook like costs $0.44. That’s the average cost of a like. The value of a like is another story.

  • Twitter Ads: My Experiment and the Results

    How Much Does a New Follower Cost on Twitter?

    That’s what I wanted to find out. I’d never ran a Twitter ad before. You can run ads for more than just new followers, you can also do it to drive more engagement (retweets, favorites, and clicks). I wanted to experiment with gaining new followers.

    I’d had experience running Facebook ads before for new Likes and Google Adwords for page clicks. I was familiar with setting a budget, identifying a target audience, and crafting the ad text. This was no different. The first step is choosing @usernames.

    Twitter Ad Targeting

    This was an ad for @skinnycoco so I targeted two of it’s competitors as well as “users like our followers”. The latter means similar interests and demographics. You can add multiple usernames and even exclude usernames you don’t want to target.

    Like Facebook ads, doing the above step gives you an estimate of reach. In my case it was 7K. The next two steps allow you to choose interests by browsing categories and to choose locations. I chose not to choose a category and chose United States.

    Twitter Ad

    The most important aspect of creating the ad is the text of the ad itself. You can either choose from an existing tweet or create a new tweet. Anything you could post under a normal tweet can be posted here (ie. text, picture, or link) in addition to “cards”.

    Twitter Cards allow you to attach rich media experiences to tweets about your content. If you’ve ever seen a longer post with text, image, and a call to action underneath, that’s a Twitter Card. These cards can be used at your promoted tweet in your ad.

    How Much Does a New Follower Cost on Twitter?

    Twitter Ads

    I budgeted $20 to see how much each new follower would cost, on average. For $20 I got 3,977 impressions (views), 66 clicks through to the Twitter profile, and 26 new followers. That translates to $0.77 per like and an engagement rate of 0.65%.

    What Could Improve Those Numbers?

    The first thing I would change would be to try different tweets and run them at the same time to test engagement. I didn’t realize that you could, like with Facebook and Google ads, run multiple ads on a single campaign. If I do it again, that’s what I’ll do.

     

  • How to Identify a Micro-Niche

    How to find a profitable niche to start blogging about on your new mini-site

    In a previous post I wrote about how to monetize your blog, but I didn’t mention how to find a niche market to promote. There are many ‘rules’ about this, but while I may point out some, not all are going to apply. One rule you can keep in mind though is that 7 out of 8 attempts may fail. If you’re willing to seek against those kinds of odds, keep reading.

    When choosing a new micro-niche, there are three things to keep in mind:

    1. Competition for the keyword – when you do a Google search for your keywords, how many root, top-level domains show up in the top ten search results? It’s very hard to break into the pack when competing directly with a home page of an aged domain, but if the search results show deep page listings instead you’ve got a shot.

    2. The product – First of all, is there a product to promote? Goods are easier to sell, but some service industries like lawyers and business consultants can make more – much more. Second, what are the commissions on the product? You have to be comfortable with the commission level, which varies greatly between products, to Make sure it is worth your while.

    3. Traffic (Visitors) – Even if you have low competition and a great product, if no one is looking for it then you’re dead in the water. You want to have enough traffic to sustain your business and make it profitable, but to not be in competition with the bigger niche market. The sweet spot seems to be around 20,000 daily searches for a given set of keywords. You can find this info out using Google’s External Keyword Tool or Market Samurai.

    You want some competition. This is a sign that the micro-niche is profitable. You just don’t want TOO much competition.

    How to Start

    Knowing how to do the research is one thing, but what if you can’t think of anything to start with? What if you can’t think of any ideas to search for? Some advice I heard once was to browse a magazine aisle and look at the ads in the back. If vendors can afford to advertise there they must be making money and so you can too. Be careful not to chase a niche just because you like it. Do the research and be willing to say ‘no’ to yourself if it doesn’t pan out.

  • The Monetization Connection

    How to make money from a blog or mini-site

    Previously I wrote about blogging for profit, but didn’t go into detail about how to monetize the content. In other words, how do you make money from a blog?

    There are three primary ways to make money from a blog:

    1. Ads – this is the easiest, but lowest-paying form of revenue. However, it can be a good way to get started and prove viability. Popular ad networks include Google Adsense and Chitka. Ads like these are pay-per-click or PPC which means you get paid regardless of if the advertiser makes a sale.

    2. Affiliations – Affiliate ads are potentially more profitable, but require a well defined niche or else it is too hard to attract visitors that will actually buy the products you are promoting. Affiliate ads are pay-per-purchase or PPP, which means you only get paid when the merchant advertiser makes a sale.

    3. Direct selling – This is when you are directly selling something on your site that you are responsible for fulfilling. This has more potential for profit than affiliate advertising since you can make higher margins, but its more risky and you have to do fulfillment yourself. Examples of this can be anything from ebooks to beef jerky.

    4. (Bonus) Transform – the pinnacle of a website is when it can be converted into a book or television show. This means you have hit the big time, but its because your site has the two major ingredients listed below.

    What do all four of those revenue sources have in common?

    1. Original Content – some estimates say to post up to eight times a day. If you are just starting out, shoot for once a week, then move it up to once a day per blog.

    2. Visitors – Don’t stop writing content until you have at least 200 visitors a day (track with Google Analytics). If you already have 50 or more posts, but are lacking in traffic, start promoting your sites.

    Promotion

    The easiest way to promote your site, like with SEO, is to start with your site. Make sure you are linking to previous posts with appropriate keywords (I call this ‘threading the needle’, but its also known as ‘siloing’) and displaying navigation correctly. Visitors should be able to find more content they want to browse easily, but remember the goal is to monetize by either promoting other people’s goods and services or by selling something yourself so don’t get too carried away in internal self-promotion.

    Once you have fixed any issues on your site and made internal linking a habit, begin bookmarking your posts on social bookmarking sites like Reddit, Digg, and Delicious. After that is done, look to join a relevant forum to join and comment often. Soon you will be able to add a signature that will show up on all of your forum posts with backlinks to your site.

    If you do all of these things and you are still not successful, try a different micro-niche.

  • Introducing a Brand New Way to Market Your Business

    Grow Your Business Organically

    A lot of SEO companies market how they will promote your business online using Internet marketing and online advertising techniques, but Erich Stauffer noticed a gap between where promotion stops and business begins and so we used social media management to not just promote your business, but grow your business.

    Digital Marketing Strategy

    We’ll work with you to create a comprehensive strategy to marry your business brand, vision, values, products, and services with traditional outdoor, radio, TV, and yellow page advertising alongside social networking and social spaces like Facebook, Twitter, Youtube and other technologies like apps for the iPhone and Android phones.

    SEO is Not Enough – Content Marketing

    It’s no longer enough to have a top-ranking website in Google if your web site is not converting traffic, your story is not consistent, and you are not creating lasting relationships with customers. Erich Stauffer can help you to do all three with content marketing.

    Social Media Management

    We are excited to offer social media management to help your business organize and streamline their marketing efforts with a consistent message that is in-line with their mission, vision, and values. We believe so strongly about this product that we would be happy to take you out to lunch to show you how it works in a one-on-one session. Are you interested in learning more?

  • Getting the Right Marketing Mix Using Social Media

    Currently there are many social websites that have created a platform for you to speak directly to and with your current and future customers.  There are also many tools that help manage this relationship, pushing the same content out to all platforms at once, or changing it slightly using built in rules.  There are no hard and fast rules for the Web 2.0 landscape because it is all still so new, but what we can do is look to those businesses who are having success in these new areas.Know, trust, buy. Erich Stauffer Marketing Consulting.

    We measure success by the three methods, “know, trust, buy.”:

    1. Brand awareness. (Does the customer know you?)
    2. Brand favorableness. (Does the client trust you?)
    3. Increased sales. (Does the client buy from you?)

    Blasting your message out to one or as many social media sites as you can will help get your brand more noticed, and so achieve more awareness, but you also need to be genuine.  The best Internet marketers make sure to engage with the customer and not just try to sell them something at every turn.  The medium lends itself to this sort of engagement and turning down the opportunity to do so may break the trust, or the brand favorableness.  Once you have established both the know and the trust, then the customer feels free to buy from you, but there is value to both brand awareness and brand favorableness even if the one who you are impressing does not buy.  Once the goodwill is out there, the person you engaged with may refer you to someone else.  Like the butterfly flapping it’s wings, even the smallest twit on Twitter may lead to a hurricane sale on the other side of the world.

  • Indianapolis Dentistry Embraces Twitter

    An Indianapolis dentist has begun using Twitter to reach out to his patients in a way that he has never done before.  “I didn’t even know what Twitter was until I started using it,” said the dentist.

    Twitter is a micro-blogging service founded by some of the same people who made blogging accessible to millions through Blogspot. The catch is that each blog entry is limited to 140 characters.  Users can post from their cell phones, email, directly on the site, or through third-party applications or websites.

    Our client now has 623 followers and is one the top-followed dentist in Indianapolis according to the Twitter directory, Wefollow.  A follower is someone who opts-in to hear what you write or “tweet” about.  We have seen traffic to their website coming from Twitter so we know it is working as a promotional tool.

    How can we help you promote your business online or around Indiana?

  • 10 Ways Twitter Will Change American Small Business Forever

    1. Ultra-Local Marketing – direct communication between business owners and their local markets allows for business large and small to add a personal touch and an heir of transparency to give them a human edge in an increasingly no-touch technology world awash with noise.
    2. Networking Old-World Advertising – the still-successful outdoor advertising and television commercials are now being used in conjunction with Twitter to give businesses more ROI and feedback on ad placements and their effectiveness. Even without tie-ins, searches for responses on Twitter can sometimes be just as revealing.
    3. Uprooting Wall Street – think of the “Mad Money Effect” on steroids.  When people start talking about a stock and that it should be bought, it gets bought, and conversely, talk about selling leads to selling.  This is a kind of self-fulfilling prophecy, but nevertheless is an effect of Twitter on business stocks.
    4. Making Blogs Relevant – blogs entered the scene in a huge way a few years back, but have since become mainstream and a bit of a victim of their own success.  Because of the ease of making blogs, their overall saturation is high and readership has suffered.  Enter Twitter: hyper-focused followings with links to blog posts of interests have made blogs more powerful than ever before.  Call it the SEO effect or not – Twitter is shaping how blogs are viewed as a resource around the world.
    5. New Ways to Gather Data – never before has there been a literal tap into the stream of consciousness as there is on Twitter.  A quick search on Twitter’s real-time search engine at http://search.twitter.com reveals whatever anyone was last thinking.  Businesses have an amazingly powerful research tool like never before.
    6. Helps TV, Radio, and Print Interact – when you see CNN co-anchoring Twitter side-by-side with the host of the show, you know Twitter has hit mainstream.  Twitter allows live television shows,  radio stations, and magazines get feedback on what they are doing, know what people think, and how they feel.
    7. Channeling Micropayments – Twitpay and services like it facilitate small loans or payments to companies or between individuals  and will extend the reach of operations like eBay’s (EBAY) PayPal. eBay, Amazon (AMZN) and other e-commerce companies will get a financial benefit from real-time micropayments.
    8. Changing Telecommunications – Telecom companies have chosen to manage user behavior by forcing customers to transfer voice, video and data on platforms that they can track. Twitter will force telecoms into a position similar to the one cable companies find themselves in.
    9. Government Interaction – Large government agencies will quickly realize that Twitter may be one of the single best ways to communicate with the public and may even mandate that Twitter participate in some programs to distribute emergency notices to citizens quickly like with the Emergency Broadcast System that was used to reach the public over radio and TV starting in 1963.
    10. Enhancing Charity – The Internet and the major products set up to use it are changing at a remarkable speed, permanently altering the way we live. Twitter could have as large a role in this transformation as Google and Facebook have had in the past decade.

  • Microsoft Debuts First Seinfeld Ad to Poor Reviews

    There was high expectations for Jerry when he was picked by Crispin Porter + Bogusky to headline Microsoft’s $300 million dollar ad campaign this year. Last night during the NFL season opening, the first Microsoft ad debuted. Immediately it was copied from DVRs to Youtube and people began to comment – mostly negatively. I have found the negativity has come from a difference in expectation. Those who expected to see an ad that looked like the PC vs. Mac ads were disappointed. Those who thought the ad would have some mention of Vista or its benefits to mankind were also disappointed. And even still some who thought the ad would be at least funny were disappointed. This was not the point of the ad.

    So what was the point of the ad? It was the first episode in a new type of sitcom, call it an advertising campaign with an overarching story line, an ad opera. What does an initial episode of any show do, be it LOST or All in the Family? It sets up the characters, defines the rules of the show, and sets a tone. This ad fit that mold to the T.

    Character Setup: We see Bill Gates in a bargain shoe store. This is ironic since Bill is one of the richest men on the planet. Next Jerry Seinfeld walks up and discovers this irony and is compelled to find out more. He isn’t friends with Bill before this, but knows who he is, as most of us do. In the same way, Bill knows Jerry, but is not friends with him before this encounter.

    Rules of the Show: Jerry respects Bill, but he’s not afraid to guide him and make suggestions. Bill is willing to accept these suggestions, but is still keeping his goals close to his vest. Its now Jerry’s job to slowly pry out what those goals are from Bill. He allows him to do this by “giving him a sign” so that Bill doesn’t have to break his own personal rules, but still satisfy Jerry’s desire for information – that same desire that sent Jerry into the shoe store in the first place.

    Tone: The same running-gag motif (“conquistador”) and seemingly spontaneous interjection of random information (“I shower with my shoes on.”) ala Seinfeld, the television show, set the tone as one of humor – not humor about the differences in PCs and Apples, but in the differences in two millionaires in how they live their life, how they put on their shoes everyday, the same as everyone else ala Curb Your Enthusiasm.