Hey all,
At the moment I'm sending Facebook ad traffic to a viral(ish) content site. While some days I see 30 or 40% ROI, other days I'll see -100% or worse. Essentially, it comes down to my per engagement cost. If the cost is $0.05 or less, I profit. The issue is it ranges from $0.02 all the way up to $2.40 per engagement in some cases, and I haven't mastered the art of keeping it consistently low yet - $0.02 or under would be ideal. Are there any tips, guidelines, or good threads here that could assist me?
Thanks in advance!
Let's outline what you're actually doing:
1. single ad created on Facebook, campaign objective is whatever it is.
2. Bidding oCPM. What subset and what actual bid? E.g. $1 toward reach? social?
3. Ad running uninterrupted with $50/day spend.
Questions:
a. How does the CPM vary day to day?
b. How does ad CTR and ad like CTR vary day to day? Engagement means nothing, measure real actions of some kind.
c. Is the average news feed position fluctuating?
You should 100% abandon Facebook's native interface and use the Power Editor (for ad creation at least).
The normal interface is for people who don't care or don't understand what things mean.
I mean, "get the most engagement for $$" is one of the most vague bidding/budgeting modes ever to grace a traffic source.
In the Power Editor you have more control over what's happening and more transparency.