As a marketer, I’m often asked about my target market and how I identify pain points that my product can solve. Recently, one of my team members suggested that I interview existing clients to gain a better understanding of why they signed up for my service. While this is a common practice, I prefer to take a different approach – running Facebook ads.
You see, I’ve been using this method for the past six or seven years, and it has proven to be incredibly effective. Instead of spending weeks or even months interviewing prospects or clients, I can quickly test my ideas by putting up a Facebook ad and seeing how the market responds. If people sign up, I know I’ve hit the mark. If not, I modify the ad until it resonates with my target audience.
Now, I know what you’re thinking – how can running Facebook ads be a substitute for market research? The truth is, the market is brutal, and it doesn’t lie. If I’ve done a terrible job with my ad copy, people won’t click, download, or sign up. But if I’ve nailed the pain point and offered a solution in a way that resonates with my target audience, the leads come pouring in.
Let me give you an example. I recently worked with a client who wanted to reach women whose husbands weren’t giving them enough attention. We created an e-book titled “How to Get Your Husband’s Attention,” and within a day of running the ad, leads started coming in at a cost of just $2.50 each. As we continued to run the ad, the cost per lead dropped even further, and more women signed up for the e-book.
Of course, there are times when my ads don’t work, and I have to go back to the drawing board. But the beauty of this approach is that I can quickly test different scenarios and find out what works and what doesn’t. It’s a faster, more efficient way to gather market data than traditional market research methods.
Now, I’m not saying that running Facebook ads is the only way to do market research. But for me, it’s been a game-changer. If you’re looking to test a new product or grow your business, I highly recommend giving it a try. And if you need help with your online marketing, I’m here to help. Book a strategy call with me, and let’s get started.