[Noob][Story Time] My first media buy

 

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Hey guys, So back when this story happened I wasn't even aware that what I ...
  1. #1
    meaculpa's Avatar
    meaculpa is offline Automation is key
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    Default [Noob][Story Time] My first media buy

    Hey guys,

    So back when this story happened I wasn't even aware that what I was doing was called Media Buying but I guess it was exactly that.

    Back in 2010 I ran a website that sold codes for an unnamed music service. The service was quite new and not a lot of people were using it yet so our market was quite small. Fortunately it also meant that our competition was virtually non existant. We'd setup an e-commerce site with a 4-click payment gateway. The whole setup was really bad but the site looked pretty decent. We weren't really sure of what we were doing but we knew we had a chance to make some decent money.

    Once the site was all setup and we had the keys in stock we were ready to do the advertisement. Not wanting to only focus on SEO (even though we had an EMD) I decided to market on other platforms. The first platform we looked at was Adwords. We threw $20 at it and it completely failed. We gave up on Adwords and started looking at social platforms. Facebook was the site we eventually decided to put some ads on. I personally loved the fact that we could market specifically to people who had liked the music service's FB page because I knew that would mean they'd be interested in our (much lower priced) keys.

    I setup an ad campaign on Facebook using a $50 coupon code because I initially did not want to use more of my own money. Here are the statistics of the ad I ran the first time (I don't have the CPM info anymore):

    Type: Text Ad
    CPC: $1.20
    Profit Per Click: $2.80
    Clicks: 50
    Total Profit: $140
    Actual Profit: $70

    As you can imagine, our conversion rate was insanely high. This was partially due to the fact that we knew that everyone clicking our ads would really want what we had to sell (We were $2 cheaper than the official site) and partially due to the fact that we had a couple people buy up to 20 codes at a time and coming back monthly. I had never seen ROI of this kind anywhere so I got excited and threw a little more money at it. Here are the statistics of my next $500 Facebook ad:

    Type: Text Ad
    CPC: $0.80 (Better targeting and ads)
    Profit Per click: $3.00 (Slightly less conversions but $0.40 less CPC)
    Clicks: 625
    Profit: $1875
    Actual Profit (Profit - keys): $937.5

    Because we were running out of keys and the official site wasn't willing to sell us any keys anymore we figured we would sell off our last 400 keys by placing one last ad of the exact same type as before and we made another $3200 (Actual Profits: $1600).

    Here's a quick list of things I did right/wrong:

    Highly targeted Facebook ads
    Starting REALLY small as a test
    Bad, horrible, ugly, terrible website
    Great Product
    Badly written ads

    I think it's fair to say I got very very lucky with our timing, our product and our audience.

    After these last keys we had to close the site and stop the Facebook advertisement but for a first time we were very happy. I haven't really dipped my toes into Media Buying since then but I'm excited to get back into it.

    Thanks for reading,
    Mea
    Last edited by meaculpa; 07-07-2013 at 08:31 PM.

  2. The Following 3 Users Say Thank You to meaculpa For This Useful Post:

    crusher (07-09-2013), Dj Co2 (07-08-2013), mytargets (07-28-2013)




  3. #2
    Junkfood00 is offline Elite Member
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    Default Re: [Noob][Story Time] My first media buy

    Well, what to say... cool story bro, lol.

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    joseph (07-11-2013)

  5. #3
    meaculpa's Avatar
    meaculpa is offline Automation is key
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    Default Re: [Noob][Story Time] My first media buy

    Thanks but I was trying to show that even if you have little experience, if you start small, you can still make a decent amount of cash

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    SolitonIM's Avatar
    SolitonIM is offline Newbies
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    Default Re: [Noob][Story Time] My first media buy

    Nevermind Junkfood00, he may have woken up on the wrong side of the bed lol.

    But congratulations, and I'm sure it'll be good inspiration for newbies who need that push forward.

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    meaculpa (07-15-2013)

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    chockfactor's Avatar
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    Default Re: [Noob][Story Time] My first media buy

    Yo man been quite a while since I last heard from you, hope all is going well and thanks for the story


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