[blashley]

Can anyone tell me from experience, If Facebook ads are more successful then google ad words.

TIA

[MCABroker123]

I had no success, waste of money.

[funding pro]

Should be far less expensive in terms of CPL

How you convert them will be based on the audience you are building and how you are funneling them.

From personal experience they tend to yield lower quality leads.

[ryan $]

Lendingtree leads are decent.

[Nunya]

I had no success, waste of money.

That's just what I would expect my competition to say if they were effective... I'm on to you.

[Franklin]

Can anyone tell me from experience, If Facebook ads are more successful then google ad words.

TIA

The biggest issue is that a vote in favor of facebook or google means nothing to you, and gives you no usable or actionable information whatsoever, because, like most business strategy questions, the answer is opened ended and depends on a few factors, including where you are currently and what your (realistic) expectations are.


If it was a straight apples to apples comparison, most would say Google ads are more effective than Facebook ads, and if it you look at where marketing budgets are invested, most evidence points to that.

But all that really tells you is that more people have had more time to figure out Google’s platform, and many people are struggling to monetize the Facebook platform in this industry. Meaning, most people use the logic: …it’s too hard for me to use, therefore it must suck/be broken/be ineffective/a waste of time, etc.

If that’s the case (and it generally is), then facebook is a better opportunity for you to be successful than google, because it’s a massive platform and few people know what they’re doing, so it’s not saturated and insanely expensive and filled with samurai killing marketers like google is.

Facebook is about identifying the ideal audience you want your ads to appear in front of, basically training the platform to target the right prospects. It’s about being interesting and entertaining, using compelling pictures (and video), breaking people out of their routine. It’s more steps than google.


-People go on Google to find answers.

-People go on Facebook to connect, relax, engage and interact, etc.


The ads that work on Google don’t work on Facebook, they’re not deep enough or rich enough.
It’s like writing a 100 page book on achieving a 0% default rate, and trying to stream it page by page, on Netflix.

The info is valuable but ain’t nobody reading that ‘ish on a video streaming site.

Both google and facebook have a knowledge barrier where if you don’t know what you’re doing, you’ll just lose money.

But for google, even if you do learn, you still may never get the results you want because the barrier is also heavily capitalized competitors, hyper expensive keywords, the barrier is dedicated, experienced marketing departments, the barrier is age and authority, branding, social signals and relevance.


You should learn both, but there is a stronger opportunity on facebook because it's not as tapped out or well known as google. But it will likely take some time.
















www.UccRadar.com

[Jason Sterling]

At first it seems great because there is a ton of daily interest/information requests but it just ends up being wasted time following up on unqualified prospects.

[WestCoastFunding]

If you’re a business owner and you find yourself needing working capital, do you first search Google or Facebook?

[ryan $]

Honestly I've gotten pretty good results just going through competitors ads, the comments, and messaging people.

[Franklin]

If you’re a business owner and you find yourself needing working capital, do you first search Google or Facebook?

You search Google first.



And you also set up the foundation for the next answer with the more relevant part of your question: "when you find yourself needing working capital".

That's where the action takes place, in the merchants thoughts. Going on Google for an answer is just a symptom, after the fact, of a process that already took place.


Stimulation, Thought, Idea, Consideration, more stimulation, confirmation, action.



The middle isn't always in that order, but that's the usual process.

Google gets people in the second half of the range.

The opportunity for Facebook is that they have a better ability to engage and capture customers through out the whole range.


Facebook is a passive channel, like any display network, but it has way more visibility than Google, because people come for many reasons, and they STAY there.


Rather than a couple of keyword driven text ads, (newspaper) you can also use a variety of pictures and video mixed with words to tell a story (multimedia) and guide the merchant down a path, and you can keep yourself in front of that merchant as they go through that process, even help guide them along when applicable, so that they'll never even think about Google when the time comes, because you will already BE the ANSWER, without searching.


Now the Downsides...

The waiting period for your ROI is longer due to:

The initial marketing setup is longer... you're not just writing text that converts, you have to source and edit compelling artwork, along with less wording, and you the same for video, which you have to direct now also, and takes even longer to edit.

You need time, and/or skill, and/or patience.

You need the nurturing process, because you're capturing merchants in every step of their thought process, so you need to stay front of mind and present and even guide them down the desired path, and this needs to be automated.



It takes longer and multiple X times more work to turn an initial ROI, and this is the main reason why people say Facebook marketing sucks. But over time, once everything is in place, merchants start to hit that 'action' period and roll over, and your cpa is much lower than most paid marketing channels and you are profitable.




On a Side note:
I know an Iso who did this with Instagram also by the way, (which shocked me), but he funds at least 750,000+ a month from this and his cost per lead is single digits, at a 10% conversion rate, so his cpa is just under $100 per 25K deal. But it took AT LEAST a year for it to take off.













www.UccRadar.com

[Franklin]

At first it seems great because there is a ton of daily interest/information requests but it just ends up being wasted time following up on unqualified prospects.

Because you're misjudging where they are in their thought process, assuming because they opt-in now, they're ready to go now, as if it was a Pay Per click lead.

Facebook interrupts what you're doing and prompts you to take an action, which isn't the same as a customer chasing you down.

But, most people ignore 99% of ads, so if a person does take action on your ad, there is a legitimate interest. You just have to understand there will be a follow up process, and you have to find a low cost way to do it that doesn't take YOUR VALUABLE TIME.

Automate it, or use good overseas people.


Some Facebook leads can take 6 to 8 months to close, the same for some other channels as well.










www.UccRadar.com

[RickyR3712]

facebook works because it is cheaper but overall you wind up funding all small deals and you have to weigh if it is worth the time.
Google you can spend 100k to get a million plus in funding, putting you at 15k loss, however with renewals you will be way up and is very scalable.

[Franklin]

facebook works because it is cheaper but overall you wind up funding all small deals and you have to weigh if it is worth the time.
Google you can spend 100k to get a million plus in funding, putting you at 15k loss, however with renewals you will be way up and is very scalable.

Average deal size from Google PPC is around $35,000. Average deal size from Facebook is about $32,000.

The differences are in the cost per acquisition and time to acquire. Google PPC deals close on average less than 7-10 days. Facebook deals on average are 21 to 30+ days.


The cost to acquire a Google merchant deal is twice the cost to acquire the exact same Facebook one (assuming you have the same total budget for both, and you're going after the same type of merchant).



The Facebook deals seem smaller because you're comparing Google deals ready to go now with Facebook deals ready to go now. The fast facebook deals are usually merchants who have
been looking for answers already and didn't find them.

They're overstacked, defaulted, small revenue. Merchants like that move fast no matter where they come from. The bigger healthier merchants aren't necessarily ready to move when they first come. They want to tire kick and gather info and make an informed decision, seemingly taking forever to give a (Return). Because they were thinking about funding but they weren't committed yet.


Most companies in any industry, talk less this space, will not wait that long for that process to develop.















www.UccRadar.com

[WestCoastFunding]

Average deal size from Google PPC is around $35,000. Average deal size from Facebook is about $32,000.

The differences are in the cost per acquisition and time to acquire. Google PPC deals close on average less than 7-10 days. Facebook deals on average are 21 to 30+ days.


The cost to acquire a Google merchant deal is twice the cost to acquire the exact same Facebook one (assuming you have the same total budget for both, and you're going after the same type of merchant).



The Facebook deals seem smaller because you're comparing Google deals ready to go now with Facebook deals ready to go now. The fast facebook deals are usually merchants who have
been looking for answers already and didn't find them.

They're overstacked, defaulted, small revenue. Merchants like that move fast no matter where they come from. The bigger healthier merchants aren't necessarily ready to move when they first come. They want to tire kick and gather info and make an informed decision, seemingly taking forever to give a (Return). Because they were thinking about funding but they weren't committed yet.


Most companies in any industry, talk less this space, will not wait that long for that process to develop.















www.UccRadar.com

The way I view it is: the more options the merchants tried before trying you, the lesser quality lead it’s going to be. If a merchant realizes they need $20,000 to make payroll, they are usually proactive and either google their options, or call back one of the 10 brokers that have been calling them daily. By the time the business owner turns to Facebook, they’ve already contacted a bunch of funders and ISOs.

But I do see value is targeting CPAs and such on Facebook for referral reasons.

[Jason Sterling]

Because you're misjudging where they are in their thought process, assuming because they opt-in now, they're ready to go now, as if it was a Pay Per click lead.

Facebook interrupts what you're doing and prompts you to take an action, which isn't the same as a customer chasing you down.

But, most people ignore 99% of ads, so if a person does take action on your ad, there is a legitimate interest. You just have to understand there will be a follow up process, and you have to find a low cost way to do it that doesn't take YOUR VALUABLE TIME.

Automate it, or use good overseas people.


Some Facebook leads can take 6 to 8 months to close, the same for some other channels as well.










www.UccRadar.com

In my experience so far the FB prospects were not even qualified. For example they were looking to start a business, didn't accept credit cards or very low volume, or flat out stacked unfundable. We will probably refocus funds into our own website lead model going forward.

[Shorebird]

Franklin: I know a lot of people who use FB for leads, it ends up being mainly credit repair deals.

Can you back up your claim regarding 32k average deal size for FB leads?

[mrmrg]

Lendingtree leads are decent.

Doesn't LendingTree own SnapCap?

[Franklin]

The way I view it is: the more options the merchants tried before trying you, the lesser quality lead it’s going to be. If a merchant realizes they need $20,000 to make payroll, they are usually proactive and either google their options, or call back one of the 10 brokers that have been calling them daily. By the time the business owner turns to Facebook, they’ve already contacted a bunch of funders and ISOs.

But I do see value is targeting CPAs and such on Facebook for referral reasons.

That’s absolutely true. 60-70% of merchants who apply on Facebook are startups or 3k wonders.

But the other 30-40 percent are real businesses who take longer to Develop but are much cheaper to turnover and fund.

Secondly, people view mistakenly view Facebook as place an ad, and hope people click, when it’s really telling a continuous story, with some
Education and entertainment, and build a “micro brand”, where you’re a superstar to no one, except to a small select group of individuals, who also happen to be your ideal customers.

This is social marketing in general by the way.












Www.UccRadar.com

[Franklin]

Doesn't LendingTree own SnapCap?

Yes

[Franklin]

In my experience so far the FB prospects were not even qualified. For example they were looking to start a business, didn't accept credit cards or very low volume, or flat out stacked unfundable. We will probably refocus funds into our own website lead model going forward.

That was the case with Google PPC as well, until you figure out what negative keywords to use, and what process eliminates those merchants from coming to you. And they still can appear 20-40% of the time.

It feels exascerbated on FB because you’re not getting a ton of good merchants ready to go from the jump, to begin with, and you have such a high makeup of unqualified.


Google is an emergency room.

FB is your primary doctors office.

Your doctor monitors and analyzes you over time, and then may determine something is wrong and have you see a specialist. But you will trust the doctor and trust who he brings to you, generally. To the person he refers you to, you are a layup deal. He’s getting paid directly or through insurance, and outside of maintaining a previous relationship with your doctor, did nothing to acquire you.

Google is where you go when the problem has existed for too long and you need to do something now. There’s a huge painful lump, the bone is broken, or there is blood everywhere. You need an emergency specialist now.

You are going to work with whatever doctor they give you, because you have no choice. That’s why those leads are so hot. You rarely see patients negotiating prices with ER doctors while laying on a stretcher with their leg facing left and their foot going right.



On Facebook, YOU are the doctor AND the ER SPECIALIST. You monitor your lead and keep yourself in his frame of mind, and when the problem has reached his pain threshold, he will then tell you he needs serious help, and now you’re the specialist, sitting on a layup.









Www.UccRadar.com

[Franklin]

Franklin: I know a lot of people who use FB for leads, it ends up being mainly credit repair deals.

Can you back up your claim regarding 32k average deal size for FB leads?

Absolutely.


It will cost $10,000, an amazing deal I'm giving only to you Shorebird, it goes up after tonight.

I'll send you my Craigslist master profile link, it has my western union details.

[Franklin]

Franklin: I know a lot of people who use FB for leads, it ends up being mainly credit repair deals.

Can you back up your claim regarding 32k average deal size for FB leads?

Joking aside, I see Isos right now that do both FB and Google and their numbers show FB to be more profitable. But I also know the experience level of the people doing it. It's not a claim, I'm telling you whats in front of me. My social marketing guy does the same, in different but related industries. How would you like me to back it up?















www.UccRadar.com

[Shorebird]

In a nutshell the FB guys monetize all leads. Most of the ad responses don't qualify for anything so they are put into Credit Monitoring/Credit Repair in order to nurture and recover ad costs.

I have learned that you need to use FB/LI/PPC/Outbound/Drip Email/RVM/SMS/Buying Data in order to succeed.

[Enablement Data]

I had no success, waste of money.

I'll give you karma for the reply but i have to respectively disagree with you.

If you know the best ways to optimize your media campaigns, it's worth it 10 fold.

[Enablement Data]

The biggest issue is that a vote in favor of facebook or google means nothing to you, and gives you no usable or actionable information whatsoever, because, like most business strategy questions, the answer is opened ended and depends on a few factors, including where you are currently and what your (realistic) expectations are.


If it was a straight apples to apples comparison, most would say Google ads are more effective than Facebook ads, and if it you look at where marketing budgets are invested, most evidence points to that.

But all that really tells you is that more people have had more time to figure out Google’s platform, and many people are struggling to monetize the Facebook platform in this industry. Meaning, most people use the logic: …it’s too hard for me to use, therefore it must suck/be broken/be ineffective/a waste of time, etc.

If that’s the case (and it generally is), then facebook is a better opportunity for you to be successful than google, because it’s a massive platform and few people know what they’re doing, so it’s not saturated and insanely expensive and filled with samurai killing marketers like google is.

Facebook is about identifying the ideal audience you want your ads to appear in front of, basically training the platform to target the right prospects. It’s about being interesting and entertaining, using compelling pictures (and video), breaking people out of their routine. It’s more steps than google.


-People go on Google to find answers.

-People go on Facebook to connect, relax, engage and interact, etc.


The ads that work on Google don’t work on Facebook, they’re not deep enough or rich enough.
It’s like writing a 100 page book on achieving a 0% default rate, and trying to stream it page by page, on Netflix.

The info is valuable but ain’t nobody reading that ‘ish on a video streaming site.

Both google and facebook have a knowledge barrier where if you don’t know what you’re doing, you’ll just lose money.

But for google, even if you do learn, you still may never get the results you want because the barrier is also heavily capitalized competitors, hyper expensive keywords, the barrier is dedicated, experienced marketing departments, the barrier is age and authority, branding, social signals and relevance.


You should learn both, but there is a stronger opportunity on facebook because it's not as tapped out or well known as google. But it will likely take some time.
















www.UccRadar.com

Agreed!