This post is about tracking Facebook Ad ROI in Keap – but let me tell you how we got here…
When I started Monkeypod I was optimistic. But I realize now that I was also fairly naive.
I think plenty of entrepreneurs feel this way. I started this venture after having worked at Keap HQ for 3+ years, helping and learning from businesses of all shapes and sizes. Before that, I had run a business for 5 years in my early twenties. I really felt like I was prepared to do it again, and better this time.
And while I’m pretty solid with marketing automation tools, I quickly learned just how much else I needed to know. And it was humbling. Right out of the gate I needed to learn WordPress, video editing, how to do my books, and the list goes on and on.
Among the new skill sets I was to acquire was how to use Facebook Ads. And I don’t mean, strategically how to use them, I just mean functionally “How do I get a paid ad in front of people”.
And I was proud when I figured it out.
I was even prouder when I figured out that I could use Keap (formerly Infusionsoft) to track my ROI from Facebook if I added my $100/monthly ad spend as an expense to the LeadSource in Keap (more on that here).
But here’s the problem – the LeadSource ROI report told me I was getting 1500% return on my investment.
Normally that’d be great, and I’d be pourin’ tequila shots for us all, but this wasn’t right.
I’m good – but not that good.
I knew that with my limited experience, and ability, this just couldn’t be right. And it wasn’t.
You see, I spend a lot of time on Facebook hanging out in various Facebook groups (heck, odds are that may be where we first connected!), and I regularly answer questions, or link people back to resources on my website.
And this ROI was giving my a total return on ALL my Facebook efforts, not just my paid ads.
For a while, I didn’t do anything about it. It was sort of technical, and intimidating, so I just didn’t prioritize it.
But overtime, as I ran more Facebook ads, I developed an appetite to know how those ads were doing. I wanted to be able to definitively point to an ad and say “Here are the results it created for my business”.
Odds are you might want that too (we’re almost there).
Facebook Ad ROI in Keap:
- I started creating LeadSources in Keap for each specific Ad that I’d run.
- And then I’d append the LeadSource ID to the URL that I was sending traffic to (step-by-step tutorial), so that if those folks signed up, it’d attach them to the LeadSource I had created.
- I’d add my ad spend to the LeadSource as an expense.
- And then I’d watch the ROI to see how that ad was doing (and dial up or down the amount I was spending).
And it’s working.
I’m not convinced I’m doing everything right, in fact I’m sure I’m not, but at least I’ve got individual results on an ad-by-ad basis, and that’s progress.
And at the end of the day, progress is a win – I have more info now than I used to, which will give me a solid baseline to start improving on.
I put this off for too long, and my hope is that by publicly talking about it I can a) help you start if this sounds appealing to you, and b) hold myself accountable to keep doing this, and refining it as I learn more.
And as one final tip – if you’re running ads on Facebook you might want to set up custom audiences for various segments of your Keap database.
This lets you target hyper specific segments of your list, which means you can run an ad specifically for people who have started a free trial but haven’t bought the full course, or you can run an ad promoting your membership but make sure that you exclude your existing subscribers.
There are a few methods for syncing your Keap database with your Facebook custom audiences, and I outline my favorites in this post here.