The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

Kepler

New Contributor
Summit Attendee
Mar 4, 2015
10
10
16
22
Good Morning/Evening/Afternoon ya'll.

I have been researching ways to find a target audience on Facebook ads to market to. Below is what I have come away with as my plan. Please pick it apart, I want to know its pitfalls so I can come away with a more solid plan of action. Thanks for your time!

How to Do Market Research FaceBook



choose a popular activity that can be honed down:



-Hunting

-Fishing

-Fitness

-Books

-Cars

-etc.



these are some refined options from those activities:



-Hunting = Deer Hunting, Duck Hunting, Boar/ Pig Hunting, Elk Hunting, Bear Hunting, Moose Hunting, etc.

-Fishing = Big Game Fishing/ Saltwater Fishing, Trout Fishing, Bass Fishing, Fly Fishing, Cat-fishing, etc.

-Fitness = Running (can be narrowed down to other types of running), Yoga, weightlifting, Football, Baseball, Supplements, etc.

-Books = Personal Growth, Finance, Relationship advice, dieting, exercise, etc.

-Cars = Upholstery, Wheels, Paint, Windows, Mirrors, Carpets, Accessories, cleaning supplies, etc.



Then take your refined option, put it in interests on FB ads, and go to page likes. Find public figures with 100k + likes/follows and enter their name into interests (get rid of your original interest and put their page into interests), and look for more public figures (COMPILE INTO A LIST!!). Repeat until you cant find more.



Then you are going to need to start looking at pages liked under the original refined activity of choice in interests. look for magazines, communities, TV/Movies, and companies that have high engagement and are closely related to your activity. do the same thing with these as you did with public figures. (i.g. if you are doing bow hunting you will want hunting magazines, outdoor businesses, sport figures, hunting ranches, etc.)



then take the list of these people/ businesses/ pages/ communities etc. and begin creating your ad (make sure "expand interests when it may increase conversions at lower cost per conversion" is not checked or your target is likely going to be too broad.). Start by choosing the thing with the highest engagement to relevancy ratio, now make that your ads interests (put 1-6 closely related categories in this). now add another category of interests below that "MUST ALSO match one of the following". In the second category of interests start inputting your public figures, and companies. (this is called fixed targeting, or as I have heard it called "stacking"). Try and get at least a target audience of 900,000 (tinker with the interests adding more to grow your audience, just make sure they are closely related to your niche).



Put out your ad (GOOD COPY, PHOTOS, OR VIDEOS ARE A MUST!!!)



Once you get around 100 purchases you can then have facebook start finding look alike's to the people who bought your product (this is when it gets easier).



Then spend more on your ads until conversions plateau.

Find a new product in your niche and repeat the process to start growing your brand.
(Obviously if you have the money have a different manufacturer in a different part of the world modify the product to offer more value i.g. more ergonomic, more functional, better aesthetic, etc.)
 

Late Bloomer

Gold Contributor
Speedway Pass
Read Millionaire Fastlane
Apr 17, 2018
952
1,289
362
Hi Kepler. Your plan keeps saying what for YOU, the reader, to do, as though outlining a prescription for someone else to follow. But the intro says that you're trying to develop a plan for yourself? I'm a bit confused about the audience and purpose for your post.

It seems that you have a business idea involving getting resale rights to some stuff you don't particularly care about, and then selling it to as many people as you can right away. While I think it can work, it sounds a lot more like a Four Hour Workweek or Warrior Forum type of plan, than the kind of long term and sellable value creation that MJ succeeded at and that he explains in his books. I also don't see how this actually relates to building a brand, unless there is some overall theme or unique quality to what you'll offer. What would give people a specific reason to buy from you again because your company is the best at a certain type of something, if you sell wheel covers one day and fishing lures the next, then yoga mats next week? If something that actually relates to a brand theme is part of your idea, you didn't mention it here.

Andy Black is a prolific poster (and moderator) here with a lot of success with Google Adwords. One of the things he points out is that a Google ad will continue to work perfectly for years, while Facebook demands that ads keep getting changed around for variety, and keep getting paid for additional promotion.

I've had friends get totally screwed by Facebook in their attempts to advertise there. I discussed that here. Only one of anything online violates the commandment of Control.

My naysaying means nothing if you can make your plan work. If you have some available money to just give it a shot, and you could survive some losses as you learn by trial and error, go for it! These are the reasons I'd not want to rely on Facebook for my own business.
 

WJK

Gold Contributor
Speedway Pass
Oct 9, 2017
666
1,502
463
Nikiski, Alaska
Good Morning/Evening/Afternoon ya'll.

I have been researching ways to find a target audience on Facebook ads to market to. Below is what I have come away with as my plan. Please pick it apart, I want to know its pitfalls so I can come away with a more solid plan of action. Thanks for your time!

How to Do Market Research FaceBook



choose a popular activity that can be honed down:



-Hunting

-Fishing

-Fitness

-Books

-Cars

-etc.



these are some refined options from those activities:



-Hunting = Deer Hunting, Duck Hunting, Boar/ Pig Hunting, Elk Hunting, Bear Hunting, Moose Hunting, etc.

-Fishing = Big Game Fishing/ Saltwater Fishing, Trout Fishing, Bass Fishing, Fly Fishing, Cat-fishing, etc.

-Fitness = Running (can be narrowed down to other types of running), Yoga, weightlifting, Football, Baseball, Supplements, etc.

-Books = Personal Growth, Finance, Relationship advice, dieting, exercise, etc.

-Cars = Upholstery, Wheels, Paint, Windows, Mirrors, Carpets, Accessories, cleaning supplies, etc.



Then take your refined option, put it in interests on FB ads, and go to page likes. Find public figures with 100k + likes/follows and enter their name into interests (get rid of your original interest and put their page into interests), and look for more public figures (COMPILE INTO A LIST!!). Repeat until you cant find more.



Then you are going to need to start looking at pages liked under the original refined activity of choice in interests. look for magazines, communities, TV/Movies, and companies that have high engagement and are closely related to your activity. do the same thing with these as you did with public figures. (i.g. if you are doing bow hunting you will want hunting magazines, outdoor businesses, sport figures, hunting ranches, etc.)



then take the list of these people/ businesses/ pages/ communities etc. and begin creating your ad (make sure "expand interests when it may increase conversions at lower cost per conversion" is not checked or your target is likely going to be too broad.). Start by choosing the thing with the highest engagement to relevancy ratio, now make that your ads interests (put 1-6 closely related categories in this). now add another category of interests below that "MUST ALSO match one of the following". In the second category of interests start inputting your public figures, and companies. (this is called fixed targeting, or as I have heard it called "stacking"). Try and get at least a target audience of 900,000 (tinker with the interests adding more to grow your audience, just make sure they are closely related to your niche).



Put out your ad (GOOD COPY, PHOTOS, OR VIDEOS ARE A MUST!!!)



Once you get around 100 purchases you can then have facebook start finding look alike's to the people who bought your product (this is when it gets easier).



Then spend more on your ads until conversions plateau.

Find a new product in your niche and repeat the process to start growing your brand.
(Obviously if you have the money have a different manufacturer in a different part of the world modify the product to offer more value i.g. more ergonomic, more functional, better aesthetic, etc.)
This sounds like the first run at a new life's dream. Keep working on it...
 

Kepler

New Contributor
Summit Attendee
Mar 4, 2015
10
10
16
22
Hey Late Bloomer thanks for the feedback! :smile2: These are just my notes that I have made on one marketing technique i'm trying to get refined before I put money into it. I completely agree Only one of anything online violates the commandment of Control. one of anything is not a way to build a sustainable business. I also agree you need to add value to build a brand
Find a new product in your niche and repeat the process to start growing your brand.
(Obviously if you have the money have a different manufacturer in a different part of the world modify the product to offer more value i.g. more ergonomic, more functional, better aesthetic, etc.)
however for the time being I am bootstrapping and trying to build funds so I can afford to do as I mentioned in my plan to have added value. I am working on a limited budget at the moment, and looking for constructive criticisms to help me get this ball rolling. I agree I need to learn more methods of marketing and various sales platforms, I am at my beginning as WJK has stated (much appreciation for the kind words of encouragement:blush::smile2:). However Rome was not built in a day and neither will my success be, I will continue to learn more as business requires. My line of thought was finding target demographics and marketing to them seemed easier on FB, this would allow me to practice hone and refine online marketing so I can then have a larger knowledge base to build on for other platforms of marketing. Again I apreciate all the constructive critizim I can get on my current angle of attack for FB marketing, or even good references for sources to learn other marketing platforms (not asking you to give me handouts or do the work for me, I am just consumed in figuring out FB ads at the moment and would appreciate a reading list if anyone has one already composed they wouldn't mind sharing.).
 

Late Bloomer

Gold Contributor
Speedway Pass
Read Millionaire Fastlane
Apr 17, 2018
952
1,289
362
Hey Late Bloomer thanks for the feedback! :smile2:
You're welcome!

however for the time being I am bootstrapping and trying to build funds so I can afford to do as I mentioned in my plan...
Your plan's about reselling someone else's products. Several people have pointed out that selling our own services might be a quicker way to make some money right away. I'm also bootstrapping up from nothing, and it seems more promising for me.

even good references for sources to learn other marketing platforms
Well Andy's a totally awesome source of great info on Adwords, and very approachable right on this forum.

I don't know off the top of my head if we have a FB ads guru on the forum, might as well try the search feature for that?

a reading list
As you mention, the better the quality of your ads, including the copy, the better your results will be on FB or anywhere else you run ads! Someone started a copywriting books discussion. Several people said they were going to participate throughout this month, but few have! I'd like to see some more reviews and discussions there... how about from you?
EXECUTION - Copywriting Challenge May 2018 (Join me)
 

Kepler

New Contributor
Summit Attendee
Mar 4, 2015
10
10
16
22
Your plan's about reselling someone else's products. Several people have pointed out that selling our own services might be a quicker way to make some money right away. I'm also bootstrapping up from nothing, and it seems more promising for me.
Thanks again late bloomer, I have been selling my services from pluming and construction work, to copywriting and web design. Selling other peoples products is just an additional idea for creating more cash flow to work with. :smile2:

I will definitely be looking into Andy's posts before I reach out, thanks for the suggestion.

As for copywriting my dad Gilman has had me read a few pretty good books, I'll list them out just in case anyone see's this and might find use from them:

The Boron Letters (All of Gary Halberts stuff is excellent!)
Cashvertising (Short but straight to the point, really helps you hone down what makes people interested through their own instincts)
7 Steps to freedom (Long and expensive, more for direct mail but a lot of the principles can be used in online marketing)

Thanks for the feedback, it's much appreciated! :blush:
 

FORUM SPONSOR

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post thread…

Search the Forum

FASTLANE INSIDERS

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom