Is it worth it to use paid advertising for just 1 single product that costs $59?

The selling price is irrelevant. What matters is your net profit margin.

As it's a digital product, the cost of delivery is likely to be negligible to low. What's your cost of production? Are there any ongoing expenses? If the $59 is mostly profit, it would be a fairly simple exercise to test a paid advertising campaign and measure the response. If it results in increased sales and you end up making more than you spend, you'll have your answer.

To many if's, but's and maybe's in there, as there would be learning curves etc, but if you were to quietly go about things then yes for sure you should well and truly be able to make a profit on that.

Everything is test as they say, and for anyone to say yes or no and not know anything about you and or your product would be a hard call. 2 people could run ads for the same product, one will bring it home the other would fail badly.

But with that $59 is a big bit of apple pie and it seems your product converts well, so given that information, I would hazard a yes give it a go but take some time to learn with a few basics and you should be good.

Before Start Advertising Check your target Audience and which channel you are going to target like the Facebook ad or Instagram or Google ads. What Profit you get per sale and how much you can spend on per ads to get ROI or ROAS (Return of per ad spend). If you makeing more then you spend (getting good ROI) then you'll have your answer.

As Frank Donovan pointed out, the one key thing missing from your question is your profit per sale. Also missing is whether or not these may become repeat customers. If you are paying $54 for a product you are selling for $59, the answer would be "no, the advertising won't pay for itself."

If you are paying $10 for that product, definitely give paid advertising a shot. We have sites selling products that sell for half that price (and cost us $5) that are doing very well with Facebook advertising ($8-10,000 profit per month).

Test

I would drive paid traffic to a squeeze page and collect their email (build list) by offering a free gift that is relative to what you are trying to sell.

Then you can follow up and promote other offers at very little cost.

Since this is a digital product, then you'll have no issue producing whatever quantity you want.

Paid advertising is great if done right. Sorry if I missed it in your OP but is the product an ebook?

You could do an experiment sending your paid traffic to a capture to build your list and offer your product as a one time offer. The immediate sales would help offset or even eliminate the advertising cost and you could build your list for zero out of pocket costs, or very little. Then you could upsell and cross-sell your list other digital products. I would do a test for a few hundred dollars and see what the numbers look like.

There are two conditions in this case if the product selling increase by doing paid campaign then it will ok because if get more orders you can earn more profit after minus the paid bill. And the other thing is if you are not getting any response even starting a paid campaign then its totally useless.

I say, keep making money with warm traffic. If it ain't broke, don't fix it

Since the product is access to your free member area, the first thing you need to do is to drive paid FB traffic to the site to collect prospects email address.
But make sure to use the fb insight tool to properly target your audience.
Test first with say $5 - $10 per day and see how it goes before spending more on ad
Start with two ads on fb split test
Yes you can make profit with this single product using fb ads or google adwords but if you can find a related higher ticket affiliate product or coaching program, you will make much more profit when following up with your leads.
Hope this helps
DOO55

Hi,

I don't think you should send paid traffic to your homepage, because like you said that's cold traffic.

The solution for you is to use a simple sales funnel (assuming you're willing to sell other products you own or affiliate products to your list, or make the membership a monthly/yearly fee).

You have an optin page giving a lead magnet. This page is designed to collect leads that you'll then follow up via email with useful content (and promoting your paid membership).

After they optin they can be redirected to a one time offer (oto) page. This page can offer your membership site at a reduced price or in some other way special, this offer only available on this page. This OTO is in place so you can recuperate some or preferable all of your ad spend immediately.

So in essence you use paid advertising to build your list. And then help them with your emails and promote your paid membership or any other products/aff products.

How to build a good lead magnet that's another thread... but basically quick to consume e.g. checklist, template, swipe file are usually the best.

of course it is worth,you also can try adwords and bingads.

What matters is your EPC. If the EPC is higher than your CPC, you're in profit.

You were however silent about what niche you're in but if it's affiliate marketing, there's a massive traffic for it on FaceBook.

Your first task is getting approval on Facebook.

Note that FaceBook is interruption marketing. You therefore need an attractive image to interrupt and grab the minds of of those browsing. I would also advise you to darken whatever picture you aim to use. To darken a picture, simply load it unto Canva and use "contrast" to darken it. It will make it standout like a Native Ad.

I think a good question to ask yourself as well is why to limit yourself to the one product?

Do you feel like there's no room for a good, solid upsell or adding a high-ticket product? Or do you simply lack the time/ideas to do it?

I would be stressed out about not maximizing my profits.

hello
I'd suggest building a list (email list) through the paid traffic and then selling your product through the list as most people dont buy the first time they see something. Once they are in your email list you can promote to them as much as you like as that is now traffic you own.

hope this helps!

It really depends , the product price is not the point.
The point is how much it cost you + how targetted the fb leads are so you convert well.
If your $59 product have a HOT audince , can sell like 10 units for every $30-$50 spent not a bad deal at all.
Its about optimizing.

Hello! Yes Paid Ads are the best, but... you must target very well your public. You must find only people who are used to buy the kind of product you are going to sell.

Paid advertising should pay a lot of attention, but not all. You should not give all your budget to one product. It is better to distribute for a sufficient number of products and be sure to focus on your customers.

I am always only for paid advertising. But its most important quality. No matter how much it will cost, the main thing is that it would be very high quality.

Yes, neglecting the price point, and since you have clearly stated it is a digital product, you have nothing to lose. With the right strategy, you can get decent sales figures.

It could work. Any ideas on what traffic source you would use?

Is it worth it to make more monthly sales and tap into a brand new audience?

Cheers.

It should definitely be profitable . . . I'd recommend starting with YouTube ads because they are closer to what you're familiar with and your sales funnel already works well from video. Plus a lot of people are saying that YouTube ads are a lot more effective than FB ads these days.

There's plenty of free info on how to set up YouTube ads, and how to make a good ad video etc. Plus a FB group on YouTube ads where you can ask questions and learn from others etc.

Another approach would be to start by using paid traffic with the very best-converting offer you can find anywhere, get the paid traffic end of things working well, then test it with your own offer.

Chris

google and bing. even if you spend $40 for conversion its worth it. wont hurt to try

I would create a value ladder which basically means selling a variety of offers at ascending price points ($17,$27,$67,$97).

This strategy works really well with information products since the profit margins are really high.

Paid advertising works great if you use strategy ie: building an email list and following up.

Also if you are going to be doing paid traffic make sure you track your source of traffic.

If you are planning to send paid traffic to a sales page you will probably make no money.

I would also recommend having a high offer that has a high ticket back end.

The only way is to test the water. Split test with most popular paid Ads like Google Adwords and FB Ads but limit your budget, after all it's only a test.

Seeing that the Original Poster created this thread 3rd Sep 2019 and has not responded since 13 Sep 2019 I think you are a bit late. Unless you are trying to increase your post count and expose your signature.

If you have the availability to add a contest to your site run a referral contest for your free members. Giving the top 5 referrers a free upgrade to your site, this gives you more members that could possible upgrade. Best of all it cost you nothing....as your free members want that upgrade so they will promote for you.

Lets say you have 1000 free members and they get you 5000 new members lets say 10% upgrade that's 500 new upgraded members or $29,500

I guess you can experiment a bit with the paid ads, just to acquire new customers who don't know about your products.

OP, when people buy your $59 product, do you collect their emails?

If you do, here's a quick rundown of the kind of paid FB campaign I'd do if I were in your shoes

1) Use the list to create a LOOK ALIKE audience
2) Create a freebie to give away through a mailing list
3) Chop up the look alike audience campaign to run ad version experiments
4) Once I find the best converting ad, I'd scale up the LAL campaign
5) I'll also make sure to install the FB pixel on your squeeze page so you can RETARGET people who visit your squeeze page

6) SELL your $59 through the list's autoresponder updates - send REAL valuable content not sales garbage

Using the system above, you get a CONVERSATION going with people who share the profiles of TRIED AND PROVEN past customers

There are other MOVING PARTS to the system above that scale up its efficiency, but you get the GIST. Just follow the steps and turn FB traffic into CASH

I'd say yes, but only if you test, test and then test some more. You need to make sure that the cost per customer is well under the cost of the product. In order to do this you have to track everything and make sure it isn't costing you too much to acquire a customer.

It sounds like you have a great product, so congrats for that.

What's your goal with the paid advertising? Is it to grow your list? If so, then you should work out the customer lifetime value, not just the conversion of clicks to sales.

If it's just to increase sales then the only way is to test a few hundred bucks and if you spend less than $59 to get a sale at $59 then you're in the money, aren't you?

But why have you only got a stand alone product? An upsell - even a cross-sell at say $27 or $37 can add massively to your bottom line and more than pay for ads. (It could even be an affiliate offer if it augments your existing product).

It's very much a number crunching game, but it sounds to me as though you're on top of free traffic, so I'd like to understand more about your reasons for wanting to spend money before offering a more definitive answer. Hope that helps!

I would use a youtube ads instead so you can just boost what is already working.

I do solo ads and sell a single product for $7/m and on the back-end, there are additional tools that are recurring monthly. What's your back-end products like?

I guess thats not the best idea if you don't have any upsells in your funnel

It's only worth it if you're going to set up a funnel and collect their emails. Otherwise, I don't think paying for traffic is ever worth it if you're not collecting their emails.

That is hard to say without testing. You should test some combinations and notice how they are performing in terms of ROI.


Also, all paid advertising is not same in terms of effectiveness. It also depends on your product niche. Make sure you are considering those before deciding the exact paid advertising technique to apply.

I wouldn't recommend selling a $59 product to the cold audience on Facebook.

Either start with a lead magnet and then promote over email & re-target the audience or you need to have great targeting and copy (which is hard considering FB's policy).