I’ve wasted so much money on Facebook ads through the years. First, it was me not knowing what I was doing. Then I learned but still thought an expert would help me. Three experts later, more money was wasted.

Today, I’m so thankful I have Monica Louie – a true Facebook ads expert. In this video, she breaks down the seven steps you must follow to make money by posting ads on Facebook. Click here for even more to make sure you don’t waste another dime on Facebook ads.

Make Money by Posting Ads on Facebook

1. Install a pixel

Do this first. Even if you’re not ready to start advertising yet. A pixel is how your website communicates with Facebook. You know how when you search for something online, then for the next few days, that thing you searched follows you around? That’s because you were pixeled. Now, it’s time to start pixeling people so when you are ready to advertise, you can target a warm audience, not a cold one.

2. Give away a great offer

What does your audience want? Really want? When you have that figured out, create it! It could be something in the form of an eBook, checklist, or webinar. Remember, our attention spans are a lot shorter than they used to be, so if you’re going to make someone click on something and take the time to leave their name and email address, it better be good. (There are many things you can offer depending on your business and your goal. For the sake of this blog post and video, we went with building an email list.)

3. Determine a budget

What are your business expenses monthly? Now, what can you take away to put towards Facebook ads or how much can you add? Monica suggests starting with a budget of $30-$35 per day. free-media

4. Select your audience

This is the biggie. Remember we talked about the $30-$35 daily budget? To start, this amount should be distributed among a few different audiences. One audience could be a lookalike audience of your email list. Another could be website visitors we’ve found using the pixel. Another could be people who interact with your Facebook page. Another could be fans of a competitors page. The possibilities go on and on.

5. Create your ad

Now, you get to be creative. Monica suggests using an image that is bright and eye-catching. You can also use a video or a series of images in a carousel that explains the benefit of your offer. You can even turn a Facebook live into an ad. This is also something you can test after you know what audience is best. Just like choosing the highest converting audience, you can choose the highest converting ad.

6. Let the algorithm work

This means wait. After three days, you’ll start to get an idea of what’s working and what’s not. Monca says your first day will be a higher cost per click then the second day. Then, the numbers will get lower and that will help you refine your audience and ad to get the biggest bang for your buck. When you find that winning audience and winning ad, go all in and see the emails start to add up!

7. Build a relationship

Now that you’ve got prospects on your email list, it’s time to build a relationship with them. Be sure to let them know you are there to help and you have a lot more where that original freebie came from. After they get to know you a little better, this is the time where you can introduce some paid offers to your new, improved email list. Don’t forget to visit MonicaLouie.com/Christina to grab her guide that walks you through this process, step-by-step.