What a great day for another episode of the Healthpreneur podcast! Yuri here, and today I’m going to share with you three big lessons I’ve learned about advertising on LinkedIn. Disclaimer: Focus on Facebook! I’ll explain why.
We’ve had incredible success on Facebook. We could stay on Facebook forever. But, when I was on LinkedIn a while ago, I saw I could advertise there. So, I decided to try it out. We’ve been running ads on LinkedIn for the past two weeks as of this recording, and I’ve learned three valuable lessons.
One, LinkedIn isn’t for beginners. Two, there are some serious limitations on LinkedIn that don’t exist on Facebook. Third, you’ve got to be ready to lose money. Wait…what?
Tune in to learn more about my three LinkedIn lessons so you can consider them when determining where to spend your advertising budget.
Click here to subscribe to the Healthpreneur™ Podcast on iTunes
In This Episode I discuss:
01:00 – 05:00 – Introducing today’s topic: Advertising on LinkedIn and why I’m doing it
05:00 – 07:00 – Why LinkedIn isn’t for beginners
07:00 – 09:00 – The limitations of LinkedIn
09:00 – 12:30 – Why you have to be prepared to lose money when advertising on LinkedIn
12:30 – 17:30 – Being comfortable with taking a leap and thinking like an investor
17:30 – 23:00 – How to scale quickly
What You Missed:
Our last episode was with my Results Coaches, Amy, Stephanie, and Jackie, and we talked about why you should be asking and assessing – not telling and impressing.
When people try to sell their product or service, they often get stuck in telling, telling, telling to try and impress their prospective client. Unfortunately, this has the opposite effect. The client never gets the chance to express their problem and, in turn, the seller never gets to hear what the person actually wants.
The secret is to ask and assess instead. Ask questions, assess their answers, and guide them to the solution you have to offer. By doing this, you give your client a voice and naturally guide the sales process towards a solution that’s best for them.
Tune in to hear exactly how to ask and assess – and learn some ways to make sure you aren’t falling into the trap of telling and impressing.
Hey and welcome back to the show, Yuri here. What is up guys? In this episode I’m going to share some interesting stuff with you about what we’re doing on Linkedin right now.
I’m going to be sharing three really big lessons I’m learning from advertising on Linkedin.
Now, before we jump into that, a really, really big disclaimer, which I normally don’t do. Please don’t do what I’m about to share with you, especially if you’re one of our clients. You guys obviously know what you’re doing, stay focused on Facebook. You’re good.
Introducing today’s topic: Advertising on LinkedIn and why I’m doing it
The only reason that I’m playing around with Linkedin is Linkedin is a great platform for professionals and as you know, a lot of our, all of our clients are professionals. There are coaches, experts, professionals in the health and wellness space we’re like, you know what? Let’s see if we can get in front of them with some really great messages and offers on Linkedin.
So as of this recording, we’ve been running ads now for just under two weeks. I think our total ad spend is about $1,400 and I want to share some interesting insights from these experiments. The only reason that I’m playing around with Linkedin is because we’ve had a lot of good success on Facebook and we could stay on Facebook forever and it would still be everything we need. Okay? Facebook is huge, there’s a billion users on Facebook, and if you’re watching this and you’re in the health and wellness space, every single one of your clients that you want, that you want to get in front of, I don’t care who you’re targeting is on Facebook. At the end of the day, you don’t need a million clients. You might need like 100, 500, 1000 to meet your goals for life. You can build, you could build $100 million a year coaching business with a thousand clients. You could, so you don’t need tens of millions of clients. You would if you’re selling a $20 E-book or the cheap supplements. Okay?
Well, we’re talking about higher end coaching. So we typically find about a 500% ROI on our Facebook spend. So we spent a dollar or Facebook is as five for like, cool, thank you so much. We’ll continue doing that all day long. That’s why I don’t invest in stocks. I don’t invest in Bitcoin. Why would I, why would I invest in things I have no control over? But you know what I do have control over? You know what you have control over? Your business. So I’m much more willing to spend money on Facebook for my business, because I control the outcome to some degree of that process.
So we’ve had a really good run on Facebook and it’s not like we’re over, we’re still running it. And I was on Linkedin a couple of weeks ago and I don’t even know how this came about. I was just messing around through the menu and the tabs and stuff and there’s a tab that says something like advertise. And I was like, what? I can advertise on Linkedin.
I’m so used to getting all my ad accounts shut down that I don’t even try anymore. But I saw this button, I’m like, hold on, I can advertise on Linkedin? I’m going to click the button and see what happens. I’m taken into this amazing mysterious world known as the Linkedin Campaign Manager or Objective Manager, whatever they call it. And I got really excited because I’m like, hold on. What you’re telling me is I can take everything I’ve been doing on Facebook and try it on Linkedin? Let’s give it a go.
So I spent a couple days learning, I’m not one of those guys to delegate and outsource right away. I like to learn enough to be dangerous and then hand it off, so that I can intellectually have a conversation about, hey man, you have no clue what you’re doing or hey, great work. Keep it going. So I’d like to understand the platform at least initially. Okay?
I’m currently running the ads on Linkedin. That’s just the way I operate, I want to be good enough to be dangerous.
1. LinkedIn isn’t for beginners
So three important things that I recognized. First and foremost is Linkedin is not for the beginner. Okay? Do not use Linkedin if you are trying to attract clients in the health and wellness space. You could down the road. But honestly, start with Facebook. The reason I say it’s not for beginners is because it’s a lot more expensive than Facebook. Now, it’s a lot more expensive per click per conversion. But some people talk about how even though it’s more expensive for a click, the quality of those conversions or those clicks is actually greater than Facebook. That’s yet to be seen. Well, I guess I’ll keep you updated as we go over the next couple of months with this. So we recommend starting on Facebook, because Facebook allowed, the minimum ad spend per day on Linkedin, I believe a minimum is $10 a day, I think. I believe it is.
But because of the cost per conversion is so much higher, you might get one conversion per day, like one opt-in per day. You’re not going to go anywhere quickly with that. So we usually start most of our campaigns at 25 to 50 bucks a day. So I don’t recommend that if you don’t have a tested funnel, like don’t even bother doing that. Start on Facebook, five to 10 maybe 20 bucks a day, you’ll get much lower cost per conversions and you’ll still get great quality leads and prospects from that. Okay?
So, first thing is that Linkedin is not for beginners, so you have to have a proven pipeline. Our pipeline, we’d been running for two years now, very successfully with Facebook. So I’m like, “You know what? Yeah, we’ll try this out.” If you just started yesterday on Facebook, do not go into Linkedin, I swear do not do that. Okay?
2. The limitations of LinkedIn
Second thing is Linkedin only allows 600 characters in the ad description itself. And that’s very limiting, especially if you adopt our philosophy, which we call long ass copy, LAC.
Our Facebook ads are very long. Like in some cases they’re more than 2000 words or 2000 characters I should say. And that’s very controversial in the advertising space, because a lot of gurus talk about just get the click, just get the click. I’m like, I don’t want to click, I want the client. Okay? Do you want the click or do you want the client? In order to get the client, you have to filter them properly right in your Facebook ad. So we use a long, and if you’ve seen in any of our ads, you know what I’m talking about. Like long story-based compelling copy that really gets people excited or intrigued, and then filters them out. This is not for you if this, this is for you if this, don’t even click on the link if you don’t even meet these criteria. So we filter people that whole way.
Linkedin, you don’t really have the luxury of doing that because you’re limited to 600 characters. So what that means is you need to be very good with your words. Most people aren’t. It takes a lot of work to cut down the length of your words. It’s easier to write 10,000 words, it’s harder to say the same thing in 10 words. And so Linkedin really challenges you to get the most important message across in the most succinct fashion, so that’s the second thing. And that’s why Facebook is such a great place to start, because it gives you the liberty to not have to be like an amazing copywriter to get very good results. Okay?
3. Why you have to be prepared to lose money when advertising on LinkedIn
Then the third thing is I would recommend, if you’re going to go on to Linkedin, you need to be ready to lose money. Now, I know that sounds completely whacked, you are like, “Yuri, why would you recommend I lose money?” I’m not recommending you lose money, I’m recommending you be prepared and okay with losing money.
And this is actually the same on Facebook, okay? I recommend all of my clients, how much money are you willing to lose to get data? Because you can advertise $5 a day and in one month you’ll have spent $150 right? It’s going to take you one month to get data, or, you could spend $150 per day and get that data 30 times faster.
Being comfortable with taking a leap and thinking like an investor
So you have to look in the mirror and say, how quickly do I want data and how much am I willing to give Facebook for that information? That’s why you have to approach your advertising like a detective and like an investor. As a detective, all you’re looking for is data. You’re trying to look out, okay, which audience is working best, which ad creative is working best? Cool, this one’s working. Let’s keep going with that. This one’s not, let’s shut it down, so you have to be that detective. From an investor standpoint, you have to think like, I’m going to give Facebook a thousand bucks and I’m okay if I lose that, I’m okay.
The most you can lose if you put a limit on your budget is $1,000 in this scenario, but what is the upside? What’s the most you can make? The most you can make is infinite. Let’s say, just watch how this plays out. Let’s say you spend $1,000 on your Facebook ads, and from that $1,000 ad spend, you get two clients who enroll with you at $3,000 a pop. That’s $6,000 revenue, $1,000 ad spend, you have $5,000 profit. Now, you can put most of that money back into your ad spend and start to accelerate, or you can do whatever you want with it. Now, as you work with those clients, they get amazing results. And let’s say you have another level program for ongoing support, maybe a higher level thing, and it’s $10,000 for the year, and let’s say one of those clients stays on with you.
So now your initial $1,000 ad spend was $6,000 plus $10,000, so you’ve made $16,000 from a $1,000 ad spend. And that’s just like, and that’s just a fictitious example. So there’s no ceiling because the lifetime value of those clients could be whatever you want it to be based on the offers you make over time. But the most you can lose is $1,000, so anyone who understands this would be like, okay, how much money am I comfortable losing? 500 bucks, $1,000, $10,000? Everyone is in different situation, but I want you to think like an investor because when I go on to Linkedin, so we actually, just this morning before recording this, I set up a new ad and I said, “You know what? Let’s try something. How quickly can we break our system? How quickly can we break our calendar? How quickly can I overwhelm my team?”
I said, “I’m going to take a bit of a risk here. I’m going to start my ad from day one with a $250 ad spend.” Now, I don’t normally do that. I don’t recommend doing that, and I’m just testing it out. Normally I’ll start off with like 20, 25 bucks and then build it up from there. But this morning I said, “You know what? Let’s do it. I’m going to take a chance. I’m going to take a risk. What’s the worst that can happen?” I turn off the ads tomorrow I’ve lost 250 bucks, but I probably got some leads in the process, right? So I’m at a point now where I want results quickly. I work with urgency and speed and I could say $250 spent over 10 days, or $250 spent over one day. What’s the difference though? What is the difference? The difference is risk aversion. You spend, and this is why premium price coaching is so important.
If you spend $250 in one day and let’s assume that the data is exactly the same, let’s just assume that it costs you $250 to get one person on the phone through this, your perfect client pipeline. So it could take you one day to get that, or it could take you 10 days to get that, which would you rather have? Most people want one day, right? But now here’s where the fear kicks in. Well, what if I don’t enroll that person? I’ve lost $250 today. Then you repeat that tomorrow. You have another person on the phone. Again, fictitious example, let’s just say this is the way it works out. Every single day you’re spending $250 to get one person on the phone. Now, let’s say that you have been doing this for three days. You have three phone calls, and on that third phone call, that person enrolls of you at $5,000. You have now spent $750 right? So three times 250 and you made $5,000. Now that’s pretty cool. Now, is that going to happen? I don’t know. Maybe, maybe not.
But let’s look at the other example. So if you spent $250 in 10 days, you’ve spent at $750 in one month, because it’s 10 days instead of one day, right? And you still have the same data, the same number of people you’ve spoken to, which is three. You’ve enrolled one person, okay? So you spent a $750 in one month and you’ve made $5,000 from that one enrollment, three phone calls. Pretty good, right? Not too bad at all. And this is where your ambitions come in. If you’re fine with that, that’s cool, but if you are someone who’s in a maniac like I am, and you’re like, I want to stir a lot of people, I would rather have those three phone calls in the space of three days, or one day, or three hours instead of 30 days, because now I’m not limited to one $5,000 client per month. I’m getting one 5,000 client, $5,000 client every three days.
So now, in this space of 30 days, I’m making every third day would be 10 paying clients at $55,000 each. That is $50,000 in revenue for what? 30 times 250, I can’t even do the math right now, but it’s going to be about a $7,000 ad spend. Okay? So I’m spending $7,000 on ads, I’m making 50,000 in one month versus spending 750 and making 5,000 in one month. Do you see the difference there? What’s the difference? The only difference is your aversion to risk or how comfortable you are taking a bit more of a leap. That’s all it comes down to. So I share this with you because I’m not advising you to do stuff like what I just shared. I’m not saying go spend 250 bucks per day, but I do want you to get to the point where you’re spending $250 a day, $2,000 a day, $15,000 a day. I know that sounds super scary, but when you know your numbers and you get so excited by that and you have the capacity to take on more calls and clients, why would you limit your ads spent?
Because you don’t need a budget if you’re getting Facebook 250 and they’re giving you $5,000, right? And so, that’s a really important lesson thinking like an investor that I hope really, really sinks in for you. Because the most, the fastest growing, largest earning companies think like investors. They don’t play small. They think big. And it’s okay if you’re starting out, think small. It’s totally fine. Start a five bucks a day, just get your feet into the water. That’s totally cool. Stand in the waiting pool, that’s fine. Get comfortable with the platform. Facebook specifically in this case, look at, cool I’m getting some metrics. I’m getting some data. Awesome. What if we spend a bit more, what if I put another ad creative? What if we test a different audience? What if we start spending a bit more money. Over time and when I say over time, this can be a space of a couple of weeks or a couple of months, so it doesn’t have to be decades. You will get really good data.
How to scale quickly
You’ll say, this isn’t working. I need to fix a few things. Or this is working really well, how do I go faster? How do I spend more money on Facebook? How do I maintain my ROI? How do we scale? And this is how you can scale your business very quickly, very quickly. You don’t need to take 10 years to make $1 million. You could make $1 million a month, two, three months from now. You really can. You can make $1 million a month starting next month. Seriously, this is how exciting this is and what holds us back from doing that is fear. Fear that art of our pipeline is going to break, fear that are the numbers really going to hold up? So I just want you to know that the possibility is Facebook. Think of this, Facebook has a room full of people. Okay? The door’s closed and they’re beating down the door. You have the key to open that door a bit and allow a few clients to come out and work with you. Or you can open the door fully and crew to stampede.
That’s the power you have when you work and partner with Facebook. Facebook is your email list. Facebook is your blog, Facebook is your YouTube channel. Facebook is everything you want behind that closed door and you just have to give Facebook a bit more money to access more of your clients. And that’s the way I view Facebook, that’s the way I view Linkedin. That’s the way I view YouTube. And as you become more seasoned in your business and you start to look at your numbers, and they start making sense, you’re going to think to yourself, how do I give Facebook more money? Because when I give them money, they give me more clients and more money. How do I give Linkedin more money? Because when I do, they give me more money. It’s like a slot machine, you give Facebook 10 cents, they give you a dollar. Like, oh my God, I’m going to do this forever. But not everyone thinks this way.
They think I’m going to play it safe, I’m going to be comfortable. I’m going to blog, I’m going to post some pictures of my but on Instagram. But no one sees that stuff and no one enrolls as clients as a result of it. And the reason most people do that is, because they think that spending money on their business is risky. But here’s the thing, you can always make money back. You can always get your money back somehow. But the one thing you can never get back is your time, is your time. So if you’re okay, slowly but surely you’re just kind of going along, tracking along a couple clients here, a couple of clients there, making 1,000 2,000 bucks a month. If that’s what you want to do, that’s totally cool. I’m not here to judge. But if you know there’s a bigger calling for you, you want to really build a brand like something substantial. And, that’s the goal, that’s the vision.
That’s what you want to do, the possibilities are at your fingertips and you just have to be able to step a bit more into the unknown, a bit more into the uncertainty. But it starts with small steps, right? Take those small steps, get the data, feel more comfortable, become that detective. Think like that investor and that is how you can scale your business from zero to hero very quickly. Okay? And I’ll be, I’ll raise my hand, like I am guilty of not scaling fast enough. Like really, I’m guilty of that. I could be taking bigger risks and that’s what I’m going to be doing this year. So watch out baby.
Quick Recap About LinkedIn Ads
So quick recap on some lessons from Linkedin. Number one, it’s not for beginners. Number two, you got to be very, very good with your messaging because it limits the characters, the 600 instead of infinite on Facebook. And three, it can be expensive if you don’t know what you’re doing. So please start on Facebook.
It’s easier to play there and I don’t really think for most health and fitness and wellness coaches, Linkedin should even come into the conversation for the most part. There might be a couple of exceptions here and there. But anyways, I hope this training, the session, this podcast episode, I don’t even know what I’m talk … This show has made sense for you and I would love to know, what has been most useful from today’s episode? I would love to, just find me on Instagram at @Healthpreneur1, just send me a DM. Like, “Hey man, I just listened to this episode, like this really huge bell went off in my head.” Let me know what that is, I’d love to hear your thoughts. And for now, thanks so much for joining me. And I’ll see you in the next episode.
Hey, thanks so much for joining us on this episode of the Healthpreneur podcast. If you’ve enjoyed this episode, here’s what I’d like you to do right now. If you haven’t done so already, please subscribe to the Healthpreneur podcast on iTunes and while you’re there, leave us a rating or review.
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For now, thank you so much for joining us, continue to be great, do great, and I look forward to seeing you in the next episode.
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