Recommended Facebook Ad Budget
What is your recommended budget for Facebook ads for something like wrongful-death?
When we’re talking about a Facebook Ads budget for wrongful-death there are a few things you need to know. The first is your average settlement. What do you typically make on a case? Once you have determined your average amount, what I try to do is work backward. I don’t like saying what your budget should be. I like saying well how much does it cost to get a case and how many cases do you want? That is what you should spend.
That’s really easy to say, but the way you find those numbers out is by actually running ads and by looking at how much is it actually costing you to get someone. And again, what I don’t like running ads. I like running a cheat sheet or some sort of bait that helps solve a small problem.
For example, for wrongful death here’s exactly what I would do. I would create a guide that teaches you how to set up a GoFundMe campaign after the death of a loved one to pay for final expenses, to pay for their kids’ college whatever it is. I would say for anyone that’s experienced a loss here’s a guide setting up a GoFundMe campaign that is going to teach you how to get medical expenses paid, how to get living expenses paid for a little while. Maybe they were the breadwinner. Then you are going to put that guide out and then you’re going to follow up. When someone downloads the guide you’re then going to send them an email. Say “Hey, you download our free guide. We’re very sorry for your loss. Do you have any questions about how we can help you set up this guide or answer any other questions for you?” A lot of people are going to probably not respond but some people are going to respond and then those are the types of people. Then you can start having conversations with those people.
What you’re going to start looking at is first of all, what it costs to get a download for someone to download the guide? Then, what does it cost to get a consultation? Let’s say it costs you $10 per download and I’m just using very easy math. Let’s say maybe one in 20 people books a consultation. Now we know if it cost $10 for a download and one in 20 people books a consultation that means that it cost you $200 per consultation. Let’s say 20% of your consultations actually turn into clients. So that means that basically, if you get 10 consultations it’s going to cost you $2,000 and it’s going to cost you $200 I think. It will cost you like $400 per case or $200 per case. I’m getting the math completely wrong but that’s how you do it. You just have to figure out what each step costs you.
Then you say, “so I know it cost me $500 for a case. I want to get 10 cases so I’m going to spend about $5000 on ads. That’s essentially what you do and that comes down to marketing and all that type of stuff.” That’s a very simple way to do it but that’s really the way you do it. So whenever someone asks me what is your budget for Facebook ads I always answer with a question which is, “Well how much does it cost to get you a client?”.