If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we asked an expert about how to leverage Facebook to succeed as a small business owner.
In this edition of "Ask the Board," we feature Karen Frederick, Founder of Kole Jax Designs, an online brand selling personalized jewelry and accessories. She explains how she turned her side hustle and hobby into a six-figure full-time business and how using Facebook contributed to her success.
I have always had a passion for creating jewelry and started Kole Jax Designs as a hobby during my time as a stay-at-home mom. I started small by making jewelry in my kitchen and selling it to my community on Facebook.
Throughout the years and with the help of my husband and my 16-year-old and 13-year-old sons, I evolved my hobby into a full-blown seven-figure business that now consists of 10 employees during the year and 20 employees during the holiday season.
Here's how you can use Facebook advertising to create and maintain a successful enterprise.
Start broad with Facebook marketing
Begin with a larger audience and let Meta AI identify high-performing audiences. A key component of my marketing strategy to drive sales has been leveraging Meta AI's lead-generation ads, Meta Advantage+ shopping, and static creatives, as well as organic posting and Reels to attract new customers. As a result, Kole Jax Designs has seen tremendous growth within the past year. Here are some of the topline stats:
- A 70% year-over-year (YoY) sales growth rate from July 2023 to July 2024.
- A 665% YoY growth rate on Facebook and Instagram.
- A 302% year-to-date growth rate on Facebook and Instagram.
- A 129% increase in orders YoY.
Prioritize adaptability and stay flexible
Last summer, Christmas in July was big for us. This summer, it was beach-themed jewelry that took off. While we didn't completely jump ship on Christmas in July, we did grab our "surfboards" and rode the wave of the season's newfound success.
Facebook's algorithm and user behavior evolve quickly. Maintaining a flexible outlook allows you to adapt swiftly.
We have been marketing our jewelry on Facebook since the days of a chronological timeline. We have had to adjust to the introduction of an algorithm and several algorithm and data changes since. While they felt like roadblocks at the time, I now can look back and see that they were merely speed bumps on a road of greater success for Kole Jax Designs.
Foster a growth mindset
Stay open to new ideas and strategies. Accept difficulties and view them as an opportunity for growth. Embrace the concept that the only thing that is consistent in business is change.
Appreciate that change encourages innovation. Make it part of your strategy to learn what is trending in your field. Your customers will show you based on what they are interacting with most. For example, we saw that beach bracelets, specifically, were driving the most sales, so we implemented more bracelets into our fall and winter collections.
Taking risks can help you stay ahead of industry trends and give your brand a competitive advantage.
Karen Frederick, Founder of Kole Jax Designs
Don't stop testing
Test new features, creatives, ad formats, and targeting. This will help you make data-driven decisions to maximize your return on investment. Utilize Meta's testing feature located in the Experiments section of Business Manager.
A/B tests do not cost anything additional to your already-in-place marketing budget for Facebook advertising. Here, you can test a multitude of aspects in real time. You can compare two or more versions of creatives, copy, or application to see what performs better.
Take methodical risks to experiment
Taking risks can help you stay ahead of industry trends and give your brand a competitive advantage. Double down on what is working. Establish a routine of checking in on your Facebook advertising and/or the A/B testing to see what is working and what isn't. Don't be afraid to double down on what is working or afraid to let go of what isn't.
Learn from advertising failures to test new approaches in your marketing efforts. Educate yourself on current Meta trends, view tutorials and user success stories, and reach out for support when you need it.
Take advantage of downturns and prepare for the next wave
Build a strong email list. Facebook offers lead ads. You can use these to build your email list and create brand awareness.
During periods of reduced activity, I will put more marketing budget behind lead ads. Potential leads are prompted to fill out a form and their email address is then collected. You can use your email list from lead ads to offer discounts and/or provide relevant products or services that align with the lead interest.
Post often
Posting regularly will support your marketing campaigns. If someone is new to seeing your brand from a Facebook ad and then goes to your Facebook or Instagram page and sees that you are posting regularly, this will enhance your brand's credibility and create confidence for your customer.
Another one of the many benefits of posting regularly is that it will help keep your audience engaged, which also helps with customer retention. Be mindful of what posts are gaining the most attention. This will help you take those methodical risks such as launching a new product into your paid ad campaigns by going in knowing that users may likely be drawn to your ad based on your post engagement.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
