I made a mistake in my business 5 months ago, but I haven’t talked about it (publicly) until now.
The 2018 Backstory:
In 2018, I lost about $10k* when I hired a highly-regarded Facebook Ad agency. The problem was that I didn’t have a converting funnel that would support the ad spend (let alone the agency fees) — and yet they didn’t stop me from hiring them.
*CAD
I spent *years* kicking myself for not being smarter, not to mention major bitterness towards them for taking me on as a client.
So you can imagine that, in 2021, when I was (finally) profitably running Facebook Ads directly to the sales page of my (then-new) course (Get Productive with G Suite), I was over the moon!
Sales were rolling in, daily.
In fact, in 2021, I welcomed a total of 2,730 students!
Those students were even commenting on my Facebook ads about how much they loved it, which was driving more people to buy it from that social proof!
Profit in my business was at an all-time-high, and so was I.
However, if you were anywhere near online business in 2021, you probably know that things stopped being awesome and started being hard(er) for those of us running ads.
The 2022 Mistake:
Oops, I did it again.
Hired an agency, that is.
I thought the time was right to outsource my ads.
I had a converting funnel, after all!
All I needed was to add expertise beyond my own to add fuel to the fire, right?
SURELY an ad agency (one that came recommended and that specialized in running ads to low-ticket products) would bring in more course buyers than I could myself. Surely.
Turns out: No, not really.
In 2.5 months: Ad spend $10,693 CAD, Net Revenue $2,342 CAD. 199 new students.
This time, at least there was net profit on the course (Gross Revenue minus Ad Spend).
Profitable, but not enough to cover the $10k* in agency fees.
*CAD
Not terrible. Still a converting funnel. If I’d been running those ads myself, I’d be thrilled!
But instead, I started out 2022 in the red, trying desperately not to kick myself (or feel bitterness towards that agency).
OK, WHYYYYY am I telling you this Facebook Ad sob story?
- Because I love to be completely transparent about how things are going as I navigate this still-feels-new business of creating and selling online courses. (And some people only share their wins. I am sharing the good, bad, ugly.)
- Because you might be doing this too, or have your sights set on online courses as a revenue source.
- Because I am attending a free event the week of Aug 22nd that – IF YOU’VE EVER SPENT ANY MONEY ON FACEBOOK ADS – you’ll definitely want to attend.
The free online event is put on by my friend and Facebook mentor Adrienne Richardson, and it’s called “Ad Camp”. This is the second year that she is running it, and I do NOT SAY THIS LIGHTLY but this was by far the most valuable free event I’ve EVER attended.
Hence why I am here to recommend Ad Camp to you.
Facebook has changed so much in the last 18 months, that you might be feeling a bit dazed and confused.
You might even be wondering if Facebook Ads still work.
The short answer is: YES. They still work.
BUT… only if you adjust to the changes & stop trying to do the same thing you’ve always done.
^^ this is why I attend events like this, and stay tuned in, with mentors like Adrienne.
SIGN UP FOR Adrienne’s AD CAMP, and I’ll see you there.
TL;DR – If you have ever spent money on Facebook ads, you should check out Ad Camp – a free event starting August 22, run by the incredible Adrienne Richardson + if you want to read my tale-of-woe about how I lost money (twice) hiring agencies, scroll up.
