I’ve been running now for the past couple of weeks. So, to keep the article off, we will be jumping into my ad account I’ll, be showing you the results from the past seven days or so date today. So you can see the kind of results it’s been able to produce and then we’ll jump into the strategy itself. I’ll go through it step by step.
Explain everything there is to know. If you do want to get this strategy in a PDF format for free, you can do so. If you go into the article description so just below this article, there’ll be the first link, click that it will take you to a landing page, and then you can get your own copy for free. Before we jump into the article, though just a very small request. If you find this article helpful and it’s the sort of thing that you think you’re going to use, let me know please do hit that like button.
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So on screen now is April, the 3rd 2020. So, almost two weeks ago now and just kind of give you an introduction into how this strategy works, or the couple of odd sets want to show you them, for example, these two here, the top one, is a retargeting add the second one is a cold interest Ad, so it’s going out to people who have never seen my product, my brand or my facebook ad before both of them are on a 2 pound per day budget, which you can see here and the first kind of interesting piece of data.
I want to show you: is this cold interest? One has a relevant score of 10. Relevant scores are super important. If your ads aren’t producing the kind of results you want them to, then the relevant score typically is the first thing you should be looking at, because it’s like a direct signal of how relevant your product or your ad is to your audience and the higher the Better and the higher it is, the more iconic translates into cheaper CPM, cheaper clicks, etc.
So the CPM have been able to produce two pounds: eleven four pounds: 52, with an average of two pound. Ninety one. Now these are website conversion campaigns and they are purchase ad sets too. As we get into the strategy, it will become clear how I’m able to get these CPM, so cheap custom link, clicks and averages 5 pence, which, even for my kind of standards on average, is actually really cheap as well.
So I was quite surprised by that myself and in terms of the actual amount of purchases them. I believe it was only one purchase for 19 pounds 99, which left me with a 4.8 3, where I so nothing special, but not too bad as you’ll see as we go on. If we have a look at April, 4th, for example, the results were much better. I was able to get 3 purchases with a 1/2 pound ad set, which was about 35 pounds per order, 110 pounds total conversion value which, with a row s of 53.
9 1, which is obviously pretty crazy. One of the huge advantages of running these micro budget strategies is that if you have a day like this, for example, because the profit margins are so high, then it kind of pays for the next week or perhaps even two weeks of ad budgets. As long as you keep running them at 2 pounds per day, if we move on to April 5th, so the Sunday typically weekend’s are like better for me – I’m not sure what you guys get, but typically it’s like evening times during the week and then weekends.
However, due to the current climate, then everything’s pretty random, actually to be honest recently, so, on the Sunday April thief, I only got one purchase for the same product for the same amount, which gave me a rest at 10.25 or 5.21 on average, because this retargeting had At the beginning, didn’t get me any results for this particular day. If we move on to April 6th, I got absolutely nothing on this day and this is kind of like I was going to say it’s a downfall to the strategy.
But it’s not really. When you’re spending 2 pounds per day per ad set, then you’re going to have like really inconsistent results. Everybody knows that Facebook works on bigger budgets because the more data it has the more consistent it can be. So that is kind of that. One of the things to keep in mind is that if you don’t get sales for a couple of days, if we take a look at April 7th I’ve got nothing this day as well.
Then don’t worry about it because you are spending such small amounts. Then you will see these inconsistencies. One thing to point out is the relevant score, for this particular particular ad set has been pretty high and consistent. All the way through, which is obviously a really good thing, and if I just put this to lifetime, have a look at the results over the course. Since I started running these ad sets, I’ve had 23 purchases, 2 pounds 70 per purchase on average, which is crazy, crazy, cheap.
Even for me, however, during these current times, if you get the right and these kind of results are achievable, both the relevant scores for both of these ad sets are pretty high, which is absolutely a really good sign, which leaves me with a fourteen point. Three two row: s on average. I can refresh this page as well, so you can see indeed that these results are real and are achievable for you to just have to have the right product and put it in front of the right audience now.
That means that, then, how does the actual strategy itself work so to start off the objective? Being a testing strategy is to identify the best performing audiences and then scale the winning ones. When it comes to running Facebook Ads, you should be doing one of two things. Number one is testing or number two is scaling and your budget changes depending on what your objective is. So, if you’re on a low budget, for example, the best thing to do is use a really small budget to test to find which audiences are performing the best and then kind of split your budget up and spend the majority of it on scaling.
Because the more budget you put to an ad set, then the more data can go through it, the faster you can optimize the more consistent and more profitable the results can be, but I’d said, then the only thing that’s going to change is the detailed targeting section. We’re going to target one interest and we’re going to narrow this with engaged shoppers by selecting engage up is what this does is and make sure is that we target those people who are clicking the shop now button recently within the past seven days.
Basically, so it increases your chances of finding those people who buy things using Facebook Ads next up we’re going to use auto placements now. Typically, I’ve always stayed away from auto placements. To be honest, I’ve always stuck to kind of like desktop news feeds on Facebook, mobile news feeds on Instagram and Facebook, but because things have got so much more competitive over the years. So when I first started advertising four years ago now there were three million advertisers on the platform and I think it was reported this year or last year there was over eight million people advertising.
So there’s twice the amount of people advertising and there isn’t twice the amount of users. So essentially there’s more people come competing for each space. So I started testing with autoplay, so it’s about six months ago, maybe probably halfway through 2019 and the results been really good. So far because those other spaces are less competitive, essentially they’re cheaper, you get a further reach, and essentially this lowers your CPM and that’s why I’ve been able to achieve those load.
Cpm switch. You terms the conversion date window, I’m always going to go for seven days with low budgets, the longer the better with smaller budgets, and currently seven days is the longest that facebook gives us. So just make sure you click the more options and then make sure you’ve got seven days selected. So kind of summarize this strategy then, and why it works number one is to pound budgets allow for slow but cost-effective testing.
You can go three or four days without seeing a single purchase, but because there’s such small budgets, then it’s not a big outlays, not a lot of money to lose, and what this also means is well point to is that one purchase equals your facebook budget paid For the next three to ten days, obsolete depends on what your profit margins are. So, for example, if you sell our products and each order gets you 20 pound profit for that particular ad set spending 2 pounds per day.
It pays for the next 10 days worth of advertising on Facebook before you’re in a loss, so one purchase can mean a lot point number 3 by using engage shoppers. I’ve already mentioned this. Is your insurer you’re targeting people that are currently shopping, a still shopping, because by selecting that essentially includes everybody who has hit the shop now button on other people’s Facebook ads in the past seven days? And then, the last point, auto placements by selecting this, you open up those cheaper places, those less competitive places to advertise, which in turn, increases your reach for the same budget and makes your CPM cheaper.
Now, if you’re thinking those places, such as audience, networks etc are cheaper because they’re low-quality and you don’t get conversions, you may be right, which is absolutely fine at this point, because we haven’t spent a lot of money and we’re simply testing. This is we’re scaling and the next steps come in, which is so start with the best performers when you’ve ran these three headsets for at least five days.
I’m a really big believer by the way of I would much rather split my budget over the course of say a week versus one or two days so once you’ve run these for at least five days, if not a seven, I’m start with the best performance. Look through the breakdowns and then narrow and increase the budget / duplicate by ten days. So, if you do like this micro budget strategy, what you could do is you could duplicate the ad set ten time to you essentially you’re spending $ 20.
00 per day. You can see the individual results per ad set and then you can just kill the ones which aren’t profitable and continue to scale and increase the ones that are so when I say look through the break, essentially what we do if we come onto here and use These two as an example: if we select this breakdown tab here on the right, we can go by delivery and if we go by gender, it’s going to tell us where the purchases are coming from.
So essentially across these two ad sets. It seems pretty kind of similar actually three for female two for male 1 foot and categorized, but then that’s interested in facts for the cold interest. Targeting we’ve got 15 purchases for males 2 for females. So essentially that would be where you would narrow and then start to scale on the males and then, if we move to, let’s go for placement and once its loads up, then we can see where all the data has come from.
So it’s been 6 purchases. In total, for this retargeting ad and every single one, which is quite interesting, has come from the Facebook newsfeed on a mobile device. If we have looked at the cold interest tags – and we can see that one has come from Instagram stories, but the majority have come from the Facebook newsfeed on a mobile device as well. So, even though none have come from other places, what would we do now is essentially narrow.
This ad set to mobile newsfeed only mail, only let it run for a few more days and then increase their budgets and duplicate up to 10 times if we so choose to and with that been selling guys. That pretty much covers absolutely everything I want it to. In this article, hopefully you found it informative and quite interesting. If you do go out and test this make sure you come back. Let me know I’d love to hear the kind of results you guys are able to achieve.
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