Here’s a practical tip for Facebook & Instagram advertisers out there. We always say Content is King. That’s so true. BUT WHAT IF you already have the best content you could possible have but your conversions stink? This is what usually separates those who bluff and can actually execute. Acting on your feedback loop (data) is key.
Observe your targeting very closely. A good benchmark is to look for metrics such as add to cart and cost per results. If an ad set has no sign of improving (aka people adding to cart) – dump it after 24 hours of testing. Move on to the next until you at least have 5-10 ad sets that have consistent response (people adding to cart or buying).
When you have an ad set that is generating results but costs 50% or more your product cost – dump it and move on to the next one. I’d usually have at least 3 new ad sets per day for either testing or expansion purposes.
There are two ways of scaling campaigns. Vertical through directly increasing ad spend or Horizontal by experimenting and diversifying on new ad sets (reach). I prefer doing 80% horizontal and 20% vertical. Also, FB reps always tell you to test other stages higher in the funnel (view content) – this is crap. They just want you to spend more.
These works for us. Might work for you too 🙂