Understanding Facebook Ads
Hey guys and gals! A lot of you guys are having issues with Facebook ads. Most of you guys are losing money and blindly spending it. You have to understand how Facebook ads work in order to be fully confident. I have lost a lot of money with Facebook ads when starting. You have to understand that you will lose money when you are in the testing phase and it is okay to lose money. Once you find a winner that will gain all your losses and more back once you know how to scale your winners. The hardest part is to find a winner. Here are the main sections to look at when you start buying facebook ads.
Targeting – Before you even try to find a product from aliexpress, you will need to make sure there is a audience for it. You can research audience with Facebook audience insight. There are many ways to find targeting, you can look for any blogs, websites, influences, magazine, or any nature that is related to your product or niche.
Testing – At this stage you will be spending money and may or may not get any sales. There is a high chance you will lose money. Don’t think of it as losing money think of it as buying data and getting closer to your winner. There are many ways to test your product. You will have to test different audiences, ad copy, images and other factors that may affect your ads. For the testing stage You want to look at your CPC (Cost per click) and CPM (Cost per 1,000 view). These factors will determine if your targeting and product is right. You always want your CPC and CPM to be cheap as possible. The higher the number it shows that facebook is having a hard time finding the audience which is why they charge a lot for CPC and CPM to do more work. The lower the cost means Facebook is having a easy time finding your audience. It’s a win win situation, if you make money facebook also makes money. At this stage you are just testing. Let your ads run for the minimum of 3 – 5 days. Once the 3 – 5 days are up look if you have gotten any sales, if not close the ads and move on to the next targeting or product.
You would run at least 2-4 different adset targeting with the same ad copy and let it run 3 – 5 days and compare data. I would only use 1 day click. I only start with Website conversion for purchase. If you do not have enough purchases tracked, run your ads on PPE or WC for view content / add to cart.
You want your CPC to be <$1
You want your CPM to be <$10
Pixel – If you have a new tracking pixel, you will not get many sales and your pixel has not matured as it is new and has no data. With a new pixel facebook will not know what to look for. For a new pixel you will have to spend more money at first to get those add to cart, purchases, view content. Once you have about 35 – 50 conversion tracked per week Facebook will have a rough idea to know who your audience are,
Conversion Adset Level – Note that at the ad set level is where the data will be optimized. Facebook will need about 35 – 50 conversions (based on your objective) collected within 7 days inorder for Facebook to be fully optimized
Scaling Up – You can scale up in many ways. You can duplicate the winner, increase the budget, make a look a like audience or increase the budget 20% daily. There is no right way you will have to test each. Remember when doing ads you want to test everything.
1 . Duplicate with a higher budget
2 . Increase the winning adset 20% daily
3 . Create a Look a like audience on Views, ATC, Purchases (1%,2%,3%)
4 . Scale out to different countries
5 . Manuel Bidding
Scaling Out – Scaling out is one of the ways to scale your ads. If you have found your winner, you would look for another targeting audience. You would go to audience insight and add all of the interest you are targeting and look at the page likes, it shows other pages and interest based on the affinity. You can test those pages and collect data.