Facebook Ad Metrics – Where they actually reward you for testing by making it cheaper and cheaper to advertise on Facebook
A Real Life Case Study
For years I developed products and spent time looking for ways to generate free traffic.
It was not until I calculated how much my time was worth and what I was getting per hour of work that I put a stop to that.
Traffic can be incredibly cheap if you start small and refine what you are doing before you scale.
Over the next couple of days I’m going to open the vault and show you a current campaign in the hope that you can do the same thing.
A couple of weeks ago I started a new facebook page and a matching website, the idea being to make posts to the facebook page and drive traffic to the website where I could post articles, affiliate offers, even my own products and build a list.
The Facebook page, once it had developed a fanbase would serve as a constant flow of traffic in that niche to whatever I wanted to promote.
In today's update I’m just going to show you the current campaign and how it’s going. In subsequent emails I’ll show you how I chose the niche, the demographics and a few other key insights you can use to start your own little online business today.
I built the new facebook page just under two weeks ago. I started the Like Campaign just over a week ago.
I started with 6 different versions of the ad, in two campaigns, with a daily budget of just $2 a day each.[Fig-1 Tag-A]
Anyone can afford that right? and starting this small let’s you test your ads for practically zero risk.
At [Tag-B] you can see that cost per click was much lower in tis campaign – but that didn’t happen straight away – let me show you how I got there…
All up there was 6 different versions of the ad. AS you know I often say that you can’t ever know – all you can do is try and test. Every niche is different.
But what became very clear, very quickly is that we had one clear winner. This is not always the case, and sometimes I’ve had to test for weeks to find a good solid winner, but in this case this was obvious very quickly – go figure?!?
At [Fig-2 Tag-A] you can see the winner here with a 8.496% click through rate. That means that for every 100 people this ad is served up to 8.496% of people will click the ad and go to my page.
The other thing I want you to notice is [Tag-B] Relevance score: The more relevant your ad is to the audience you target the higher the relevance score and the lower Facebook will sell you the ads for.
This is important. Facebook want to serve up ads that are relevant for each person's interests, so it’s our job to give them what they want.
At [Tag-C] you can see that some of the ads were up to $0.69 per like, but our winner at the start of the campaign was around $0.19c per ‘like’, which was ok for the start of a campaign.
Remember I had a budget of just $2 a day, so I increased it to $5 to see what would happen.
Our winner just kept winning and for the first two days was converting at over 9% – way above the others… so I dropped all the other ads and just kept that one.
After a week Facebook kept lowering the cost per ‘Like’ to today 8 days after I started the campaign and we are down to just $0.08c per ‘Like’
Over the course of the week I kept increase the budget. SA of yesterday I’m spending $27 a day and the click through and cost per like is stable.
And my new page has just crossed 2000 likes this morning.
Now here are two other factors that you won’t see from these stats.
- I added a Facebook retargeting tag to my website.
- People are starting to share my stuff
1– Adding a retargeting tag means that I can also run an ad campaign which targets anyone who came to my site to see one of the articles I posted…
But more than that – when I set up one of these ads (which I would do to promote a product) I can also ask Facebook to do a lookalike campaign and to show my ad to anyone that looks like the people who came to my site – it’s a really clever way to find people who are the most likely to buy what I’m promoting.
2– Once people start engaging with my posts and sharing them they get social proof from the people they share it with and I increase my chances of it getting shared again… and again… and again, which can bring in more likes which I don’t have to pay for.
And of course I have an offer on my website designed to grow my email list which I can use to build a relationship with and drive traffic to any offer I want to promote.
… So that’s the plan and where I’m at so far.
I’m sure there’s already a tonne of information that could help you in this email…
In part two of this series I’ll share with you how I discovered this niche and why I chose it.