In this blog, we are going to share some testing and scaling strategies that have helped us to generate a few million in sales for our clients. This is a combination of eCommerce (physical products) and courses.
Facebook marketing has given us many late nights and early mornings but we are insanely grateful for Facebook.
We would like to share some methods for FB marketing that will help you get a better grasp of your customer acquisition.
Let's dive in!
1. Test as many variables as possible.
When you're getting campaigns set up for a new offer you want to test tons of audiences.
Set up 10, 20, 30 different ad sets all with different targeting. It's like fishing with 30 different rods.
Next, set up 2-3 ad creatives per ad set.
You want to give FB as many variables as you can to optimize your campaign for the best possible result.
2. Use daily budgeting when testing, we don't use CBO to test.
We launch $5 - $10 per day for each ad set and it's done with daily budgeting.
We use CBO for scaling which I'll discuss later.
For some reason we see much better results using normal daily budgets, but when we test with CBO we tend to see an underperformance.
3. How to capitalize on your first batch of results.
When you begin to see an above-average result in your ad set it's time to duplicate.
Above-average is relative to your business. For us, if we get a 3x+ ROAS on an eCommerce ad set that's great. We consider that above-average because it's a profitable test that has the potential for more profit.
What we do is duplicate this ad set and begin it at midnight. We normally make this ad set 2x - 3x the budget (normally $25/day)
Yes, this ad set will compete with your original ad set. But it will help you collect more data for the next step.
4. Use lookalikes to scale big and generate healthy results.
You might be able to generate super great results with cold targeting interests.
But you should be able to get BETTER results with lookalikes. So if you're only breaking even (or worse, losing money) during the first phase, that's okay.
Create lookalikes with the following events:
- 95% Video view
- View content
- Add to cart
- Initiate checkout
- Purchase
You need 100 events achieved before making a lookalike. Start with easy events and create 1% to 10% lookalikes (10 total per event).
You're going to have TONS of audiences to test.
We listed 5 events up there, that's 50 audiences that you can test. Remember the more data the better, sometimes 95% Video View lookalikes will do better than purchases because Facebook will have a lot more data.
5. Duplicate winning above-average ad sets into a CBO campaign.
Only run CBO campaigns with $90 or higher in the daily budget. Also don't include more than 7 or 8 ad sets per campaign.
We recommend duplicating your best ad sets into a CBO campaign and scaling it. Remember not to crank the budget on an active CBO campaign or ad set or the entire thing will re-optimize (and start over in terms of momentum).
6. Rules to remember.
- Always begin ad sets at midnight unless it's done before 10 am your account's time zone.
- Don't touch an already running ad set or campaign, let it run. Instead, duplicate and then edit.
- Use the breakdown tool to analyze your audiences age, gender, location, device usage, etc. audience's
- Don't let your account get paused due to failed payment, it hurts your momentum.
- Start retargeting right away, leverage traffic you already paid for.
- Use manual bidding to scale big, don't use it in the beginning (I'll touch on this subject later).
We hope you enjoyed these tips to help scale your E-commerce business. If you need more information please feel free to contact us.