A few caveats about online advertising:
Be patient. It can take a day to 6 months to get your online advertising to be profitable.
Not every advertising channel will work for everyone. I’ve spent $100,000+ on Google advertising and only made back $25,000. If you do the math, that’s not good
When you do find a channel that’s profitable, spend as much as you can, while you can. When I was advertising on a newsletter I found I was spending $750 a week to sponsor and making $1,500 back within 2 weeks. That’s an awesome time to ROI. I didn’t sponsor more than twice a month since I didn’t want to annoy their readers. A friend yelled at me to do more. I moved to four times a month and the ROI stayed at the same rate. I realized there’s a lot of noise online so
it’s okay to advertise
Advertising decays. Over time you need to refresh your advertising if it’s working. At AppSumo we had a full-time person just refreshing our ads a few times a day. It’s a bit easier with news feed ads vs right-side ads.
Profit is all that matters. Ignore people who claim they get some really high Click-through-rate CTR (% of people that actually click their ad). If you are spending but not making money, stop.
Look for free marketing opportunities first. In How to make $1,000 a month business course I personally encourage people NOT to spend on ads until they’ve exhausted other marketing activities. It’s too easy to spend a lot on ads without great results.