I came across a sad story on a marketing forum the other day about a guy who “went from millionaire to broke.”
Poor guy. Literally.
He described what happened: “I was the king of Facebook Ads in 2013-2016. I was making about $4,000 profit per day,” he said.
Then things went south.
“I consider myself an expert on FB advertising. But for some reason, nothing works profitably for me anymore.”
He speculates that Facebook may have flagged his account as “low quality advertiser.”
Could be. But when it comes to Facebook, Google and other online advertising services, no one knows for sure.
Poor Guy is not alone.
I know several people whose businesses tailed off or collapsed after putting all their marketing eggs in one basket — Facebook or Google or Instagram or some other can’t-miss advertising channel.
Several of them paid big bucks on courses to learn how to master the channel.
Then they were downgraded to “low quality advertiser” or the internet giant changed how it ranked their site or some other system they mastered suddenly changed without warning.
Don’t get me wrong. All of those marketing channels can be very effective under the right circumstances.
But as one wise fella noted in response to Poor Guy’s story, “If your entire business model depends on the policies of another single business you do not control, that’s not a sustainable model.”
Amen, brother.
That is reason enough to diversify your marketing channels. Don’t let the internet giant — Facebook, Google, etc. — pull the rug out from under your business.
But it’s not the only reason.
Tune in next Wednesday for another, even more important reason.
Tom
MarketVolt
p.s. Want to learn where to put the eggs? Want help managing those marketing baskets? MarketVolt’s experts can help you devise creative, smart strategies and tactics for your marketing campaigns. We can help you with planning, testing, tweaking, and measuring. We can show you how to do it, or we can do it for you. If you want to learn more, give me a call (314-529-1431 or email me).