Credit to Justin Brooke for breaking this today, Facebook ad prices have gone up 43% as per Market Watch’s interview with Facebook’s CFO.
As Justin’s been saying, the amount of Facebook advertisers has been growing exponentially on a daily basis.
Which means, Facebook has too many advertisers and not enough ad space/new feed frequency to put in front of people.
On top of that, Facebook engagement has been declining.
So, what does that mean for you the entrepreneur/business person?
Well, if you’re solely relying on Facebook for leads and sales, get ready for rocky road ahead.
If Facebook ad prices are going up 43% (and probably higher), that’s going to eat into advertiser’s profits (i.e. your profits).
So, what do you do?
As Dan Kennedy always says, “The worse number in business is one.”
Meaning, if your sole lead and sales source is Facebook advertising, you need to find another profitable source of leads and sales yesterday.
If you want help with adding new lead/sales channels, learn more here.
Creators (Consultants, Instructors, etc), Solopreneurs, Freelancers Who Want to Build Tiny Empires: Come Walk with Me
Join me on weekly virtual “walking meetings” with the FREE Walk with Me eNewsletter where I write about important issues for Creators (Consultants, Instructors, etc), Solopreneurs, & Freelancers who want to build Tiny Empires.