Are you ready to start scaling your brand to 6 figures and beyond with Facebook & Instagram Ads?
If you are, then you’re in luck because I’m about to disclose some heavy strategies to help you hit those big revenue numbers.
Step 1: The Testing Phase
Before scaling comes testing. For every 20-30 products you test, you will probably find 1 winner. This shows how important testing is…
…and how much time it takes!
There are 2 key elements for selling a product on Facebook.
Your offer needs to be strong! (nobody likes a shitty deal) and preferably over $50.
Your website needs to convert and do the heavy lifting.
Focus on your product description on the product page. If your product page converts at 1% then don’t expect a massive ROAS. Make sure you spend time on writing the description, look at the conversion elements such as call-to-action buttons to see how you can push your conversion rate to 2% minimum.
Start testing with different ad formats and different audiences. Use the same copy and test different formats and see which audience converts the highest.
Step 2: Managing the Ads
When managing the ads, there are a couple of things to take into consideration. The first is whether that ad is making you money. Always look at a couple of timeframes to reach a conclusion because Facebook’s results vary day by day and time of the day.
We always look at:
- today & yesterday
- last 3 days
- last 7 days
- last 14 days
- 28 days
Check to see when did the ad perform and when did it stop. Did it stop during the last 2 days? Did you make a change to it? If so, switch it back. And if you haven’t tweaked anything let it run for 3 days max. If it doesn’t perform, pause it and stop wasting money on it.
Something to keep in mind is to NOT ONLY look at the lifetime history of an ad-set or ad. The lifetime might be really good for an ad set, but the last 3 or even 7 days might be terrible and you’re actually losing money there.
Also, we often make small cut backs on ad sets. If an ad set has been performing for days or weeks and the performance goes down, we cut the budget by 10%. That way, we give Facebook a signal we’re not happy with the results and are scaling back. Typically, we’ll see increased performance after that.
The same goes for the increases in ad spend. We do this 20% every couple of days and let the ad set rest again to get back into performance (or not and then you know you need to put things back to their original state again).
These increases and decreases in ad spend can be done automatically with rules. We use the automated Facebook rules and reveal how to go about it in this video.
Step 3: Scaling
This is where the fun begins!
Scaling ?
Once you find the ads (and products) that are bringing in sales on a consistent basis, you can start the scaling process.
First of all, if you have a couple of sales coming in on an ad and you’re increasing the budget every couple of days by 20%, this is NOT scaling, this is just extended testing.
For scaling to work, you want to have that steady flow of sales coming in on ads well within KPI, because when you start to scale, your CPA WILL go up.
At the time of me writing this post, we do 70-80% of our scaling with so-called CBO campaigns. These are campaigns where we let Facebook select which ad sets it needs to get the budget and we control this by setting up rules.
A CBO campaign structure looks like this:
- 1 Campaign – Campaign Budget Optimisation on (on 5-10x the CPA)
- 6 Ad-sets – These are 6 copies of your winning audience, so 6 identical ad sets.
- 12-24 Ads – Depending on the account and how many winning ads you have you create duplicates of the winning ad. So if you have 1 winning ad you create a duplicate of that one, if you have 2 winning ads you create 2 duplicates.
We also test a CBO campaign structure with manual bids where we set the manual bids in the 6 different ad sets to:
- 2 x CPA
- 2.5x CPA
- 3x CPA
- 3.5x CPA
- 4x CPA
- 5x CPA
The advantage of CBO campaigns is that you don’t have to restart the learning phase when you increase the budget. This way, it’s easier to scale fast because you can potentially double the budget on a day when sales are coming in.
By using rules to turn off losing ads in the ad sets, you force the budget to go towards your winning ads and this can increase sales rapidly.
Some good audiences that we see in these CBO Campaigns are lookalikes. Make sure you test every lookalike you can create and also different combinations. Test purchase lookalikes, but also value-based lookalikes or multiple-page view lookalikes.
Source: https://www.heavyheadsocial.com/uncategorized/3-steps-to-scale-your-online-store/
