Profiting - How to Scale? (2)
Hi STM
As the title suggests i'm looking for tips on scaling and you will see why I am kinda stuck, or at least I think I'm stuck 
maybe you might be able to see something that I am not getting -- this will be a 2 part question about Scaling/lookalikes and Bidding
I've been running an automatic bidding campaign which has been getting a CPC $0.13 - $0.17 from an audience of 130,000 people.
So far I have a +80% ROI for this month, Spending $10 a day on one adset. (lander is slow as hell [built on wordpress, sussing out a new lander as I write this])
The LP seems to be converting okay based on the loading issue and I've been building up a list which is connected to an autoresponder sequence which has been the money maker in this campaign.
That said -- I have tried a few times to 2x my daily spend in an attempt to scale and I've had mixed results -- I would break even and in rare cases, I would double my money back. but I feel I am treading on a fine line now as I start exhaust my audience.
The question is how do it properly scale this?
So far I have created another ad targeting a much bigger audience which is still optimizing but its converting on the offer and is profiting. Still waiting for the CPC to drop.
Running the new campaign at $5 a day
Lookalikes:
Along with an email list over 400+ optins, I have a custom audience list from people who opted in.
After setting up a faster landing page: im interested in creating a lookalike audience from the people who opted into my email list.
but I am unsure of the variety of the audience I should build through the lookalike algo? 1% or 4% or 6% lookalike -- where should be a good start in this instance?
For example, the Lookalike for 1% is 160,000 -- Seems low
Another question is bidding strategy for scaling with a lookalike?:
I have been running Auto campaigns for the majority of the time -- any recommendations?
Iv been reading Tim Burds manual bidding strategy and I am keen on following it -- any experience on this type of strategy or should I just keep chugging on with the Auto bidding with lookalikes?
Cheers
Here is the Tim Burd manual bidding method: https://www.facebook.com/groups/adbu...2323454590569/
This was an old post I did so ill update and re-post for the 10k+ new members that havnt seen it!
This is how to manually bid. Theres five main methods:
1. Start mid range of suggested and increase/decrease as necessary
2. Start low, slowly increase
3. Start high, slowly decrease
4. Start really high and never change it (2-3x suggested)
5. Start really high and after a lot of spend drop it super low for cheap clicks
My personal favorite if I had to pick one is #4!
This is what I would call "The Bully Method"
Facebook puts people into "buckets". So say you are bidding for purchases for jewelry. Facebook puts people into buckets like "MOST Likely to Purchase", "Likely to Purchase", "Somewhat Likely to Purchase" and so on.
When you bid low you get the somewhat likely to purchase, bid at the top level of suggested and you get the better "Likely to purchase" people. Bid really high like I suggest and you will get the people MOST likely to Purchase.
1. This makes your campaigns more consistent day to day
2. When you make your lookalikes after you have 100+ sales, those sales and customers will be made up of the best ones, not the lower grade customers.
3. It starts your ads off at a better placement in thenewsfeed which leads to higher CTR's and lower CPC's than you would have likely gotten bidding in the middle of the suggested range. (Auto bidding is essentially the same as bidding in the middle of the suggested range).
4. This strategy also helps you keep your competitors out as they will likely auto bid or manual bid lower and when their costs come out higher because you are pushing their bids up or they get no traffic they will move on to other demographics leaving yours open.
Now this strategy is NOT for everyone and its not for every situation either but 90% of the time this is the strategy I use personally! It does require a bit higher budgets also. Many times the first day will have a higher cost, day two the cost comes down, day three it comes down more.
Hope this helps everyone! Hit this post with a like and a comment so more people in here see it please
2xing your spend on an adset is pretty dramatic - you might want to try a slower increase instead. 10-20% per day is usually recommended.
As far as lookalike audiences go: split-test between them. Split-testing between 1% through 5% LLAs is the way most people go. You just don't know which one will convert best.
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