Grow Your Sales From $50K to $1.5M Using Social Media Advertising
At the recent KORE online Speaker Series, North45 founder Ricky Lee Jones discussed how he’s used social media advertising to grow multiple brands.
What does a Harley motorcycle with a custom paint job featuring orange flames licking the side of its gas tank have to do with outdoor gear? At a recent KORE online Speaker Series, entrepreneur and marketing expert Ricky Lee Jones shared a social media ad promoting FreakMount, a magnetized phone holder targeted to motorcyclists, that he said took the company from $50K in annual sales to $1.5 million in just 12 months thanks to various strategies he employed.
Aside from FreakMount, Ricky has worked with a variety of brands and has launched his own company called North45, which manufacturers merino wool headwear and face masks with anti-fog capabilities. In his presentation he talked about the importance of identifying a clear target audience, creating effective ad content, and strategically increasing budgets to scale small- and mid-size companies. Below are five other key points he made during his presentation.
#1. The Power of Paid Advertising
After speaking about his background, Ricky launched into his presentation by saying that paid advertising serves as a megaphone for your brand, amplifying your message to a broader audience. Unlike traditional methods like billboards, digital ads are measurable, reliable, and allow for precise budget control. They offer a progressive way to dip your toes into advertising, minimizing risk while maximizing returns.
#2. Crafting an Effective Ad
According to Ricky, effective ad creatives are crucial for successful advertising campaigns. He emphasized the importance of clear, informative ads that immediately convey the value proposition of your product and then stressed that high-quality visuals, attention-grabbing headlines, and compelling calls-to-action will significantly enhance the ad’s performance and drive conversions.
#3. Closely Monitoring Your Ad’s Performance
It’s not enough to create an ad, push it out via the socials, and then sit back and wait for sales. Ricky said in the case of FreakMount, he monitored performance every day at the outset of the campaign and when it caught hold, he doubled the advertising spend weekly. As long as sales kept growing exponentially, he kept increasing the advertising budget and that’s mainly how he managed to triple sales in about a year.
#4. Leveraging Influencers and AI
Influencers can play a pivotal role in boosting brand credibility and reaching broader audiences. Ricky discussed how working with the right influencers can create a ripple effect, attracting more partnerships and followers. Additionally, he explained how AI tools like ChatGPT can help in brainstorming ad content and refining marketing strategies, making the process more efficient and creative.
#5. Financial Metrics and Testing
Understanding key financial metrics and conducting proper A/B testing are essential for optimizing ad campaigns. Ricky provided a detailed breakdown of calculating customer acquisition costs and return on ad spend, ensuring that advertising efforts remain profitable. He also stressed the importance of isolating variables in A/B tests to derive meaningful insights and make informed decisions.
