Hi,
I have been working with FB, unsuccessfully I might add, for over a month now. I figured its about time I reach out to my fellow IM's and ask for some advice. So I am posting my first follow along. Any feedback would be greatly appreciated.
Yesterday I started a new campaign. Its an "as seen on TV" product. My target audience is 50 plus, M and F, US, with a specific interest (matching the offer of course). The offer payout is $11.25. To try and ensure fair distribution of my traffic, I even created a separate campaign for each image with the same ad copy. So these stats are of 9 separate campaigns, each with a daily spend cap of 20.00.
Here is yesterdays stats after the campaign had been running for just over 2hrs:
(I apologize for the crappy layout, got frustrated trying to align it properly, lol)
Campaign- Imp- Clk- CTR- CPC- CPM- Spent
IM000- 22,274- 20- 0.090%- 0.73- 0.65- 14.54
IM001- 24,519- 21- 0.086%- 0.79- 0.67- 16.50
IM002- 2,284- 1- 0.044%- 0.89- 0.3- 0.89
IM003- 12,455- 13- 0.104%- 0.80- 0.83- 10.38
IM004- 23,967- 16- 0.067%- 0.77- 0.51- 12.31
M005- 23,882- 15- 0.063%- 0.78- 0.49- 11.70
IM006- 1,269- 0- 0- 0- 0- 0-
IM007- 31,751- 26- 0.082%- 0.77- 0.63- 20.00
IM008- 12,534- 20- 0.160%- 0.72- 1.14- 14.34
Now I realize I haven't collected much data here, but I only had 1 conversion after a spend of around 100.00. With an initial loss of almost 90.00, I kinda panicked and paused everything.
With past campaigns, once I got my CTR above .1% I normally saw a substantial decrease in my CPC, that didn't happen here (IM003 and IM008 for example). I'm thinking this is because I was targeting a specific interest??
So to be blunt, what do I do now? I have read that a general rule is to run an ad at least 4 times its payout, but that would cost 45.00 each ad, and would run me over 400.00 to do. My thoughts are that if I sent over 100 clicks to the offer it doesn't matter which ad copy they came from, if I only had 1 conversion then the offer itself is bad, or my demographic. Seeing as for this particular campaign I can't switch the offer, do I give up on it entirely? Or do I even have enough data to support this thought?
Should I take the best performing images with the highest CTR and the 1 conversion and try a new ad copy? New target audience?
I tend to stop a campaign entirely after early negative results, and I don't want to keep doing this. I have read many many posts on STM that have certainly helped and given me ideas but I'm still nowhere near where I need to be.
Any thoughts or feedback?
Thanks, Shawn
I am wondering, why would you market as seen on TV Product in FB?? If product is free and just email/zip submit then it's a different story but if you are affiliate with product and try to sell it than it's hard(I would advice, stop promoting). Facebook is not Google and people in FB have different mindset. You should target anything which is free* and personal*. I'm also new (Somewhat experienced - making $200-$250 /day) and trying to learn every day. I could be wrong and let's wait for experts.
* Free = dating (free to sign-up), trials (health related products), Deals(email submit) etc
* Personal - Anything you promote should be personal to individual that you are targeting such as singles are looking for girl/boy friend (promote dating)
I never tried any other niche but dating.
You're more likely to get even spend if you kept the groups like this:
Group A: (50+) (Males) (8 images)
Group B: (50+) (Females) (8 images)
I think your issue now is you're working on a niche that's too difficult. It's a cost per sale, which means you need a good lander. Not only that but it sounds like you have a low budget / low tolerance for losing money if you're complaining about $90.
Best thing to do is switch to a vertical like gaming on Facebook because it's a proven niche. CPA's are a lot lower so that means you get a lot more data for your budget and get more experience testing. Getting someone to sign up for something is a lot easier to do than asking them to pull out their credit
card and purchase something.
For the current offer if you really want to make it work:
- Keep the higher ctr ads, pause the lower performers. Test out new angles. Find more images that are similar to your high performing ones.
- Split test landing pages
- Slowly slower your bids. Ask for bumps on the offer.
- Split test the offer
- Test the audience. I noticed you automatically assumed 50+ is the best demographic. Maybe it's 30-35 females, you don't know unless you try.
- Test the targeting
- Scale to other traffic sources
Thank you guys for your input and advice. I will utilize it moving forward with a different offer, already launched a dating campaign. I will start a new follow along on Monday with new stats. Cheers.