Paid Ad Diagnostic for when you're Ads are not converting sales

A familiar refrain...MY ADS AREN’T WORKING. I hear it on sales calls and on customer success calls. It’s distressing to say the least.

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Our users want their ads to work. Their competitors want their ads to work. But the feeling usually is 🤬 or 😤 when looking at the data.

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The question of WHY AREN’T MY ADS working is more nuanced than you would think. You have to ask your yourself three simple things 👇

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1. Are my ads converting to my site?
2. Is my site (landing page, PDP, or Homepage) optimized for conversion rate?
3. Is my product priced right?

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There is even more detail that fills in the lines between that simple set of questions.

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Here is the framework we follow when ADS AREN’T CONVERTING to determine if it’s the AD or something else.

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PART 1 - TRAFFIC TO YOUR SITE

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What is a good conversion rate?

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💡 A good CTR for Facebook Ads averages at around 0.90% across all industries. Naturally, this number will fluctuate when you look at the average Facebook Ads CTR by industry, with sectors such as legal and retail able to get anywhere up to 1.61% and 1.59% respectively. (Source: Wordstream)

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We love this guide on different experiments you can run to increase the CTR of your ads. (Bonus: ✏️ can make the process easy)

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🔥 Tip: Higher conversion rate isn’t always the holy grail if your quality of customer degrades, make sure you test multiple creative variants to find what resonates with the kinds of customers you are looking for. (Most of the time 80% of your revenue is driven by 20% of your customers)

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Our favorite experiment: Asking a question of your prospect can be a more interesting way to interact than straight benefit-focused copy.

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PART 2 - Is your website ready to convert?

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What is a good conversion rate?

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💡 Across industries, the average landing page conversion rate was 2.35%, yet the top 25% are converting at 5.31% or higher. Ideally, you want to break into the top 10% — these are the landing pages with conversion rates of 11.45% or higher. (Source: Wordstream)

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This is a great resource from Bolt on methods to optimize your website conversion rate.

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PART 3 - Pricing

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1. What are your main competitors priced at?
2. Has your conversion been lower than expected? If so, time to revisit your price.
3. BONUS: If you have room in your gross margins, you can take a hit on margin to drive volume, and make it back across multiple customers interactions.

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Each of these parts works together to deliver: the right audience, that buys the right products, at a price that you can live with.

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To get it right you have to test. So...don’t be lazy and say it’s the ads...it might be...but that’s too easy. Look under the hood, you might find something deeper, that helps drive your business into overdrive.

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What do you think?

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