3 High ROI CBO strategies for your fb ads
Here are 3 things I recommend:
1. When launching your ecom campaign, avoid making changes in the first 3-4 days as it takes some time for Facebook to optimise everything especially if you're doing a CBO. You have to remember that Facebook needs to distribute the budget between the adsets over time to get you the best results.
On day 1 it may give preference to 1-3 ad sets, on day do it may be 2 other ones etc. And you can see this yourself as you'll notice some ad sets spending WAY more than others.
Change nothing and let it run its course. Once the days have gone by, thats when you can see the truth. It's also important here to look at the total cost per purchase to really get an accurate view and not the day to day cost.
2. Facebook ads run best when you're testing more angles. If you're running a CBO with 5 adsets for example and you're testing one angle there, what you should do is duplicate those 5 ad sets and test another angle within the same CBO.
You'll see better results immediately. It might be uncomfortable but I highly recommend it. The more variation the better. The reason being that the algorithm has more to work with which makes it more powerful. And imagine the new angle you tested now brings you a 50% reduction in the CPP, that's when you really reap the benefits.
3. I highly recommend tracking all your data within a spreadsheet. I track everything everyday from ATC rate, IC rate, purchase value, P&L etc. About 20 metrics that I track. The main reason for this is once you do this for a few weeks you start to notice patterns. These patterns are everything. You'll notice how some days you make more money than others and how you make your returns over time. The worst thing you can do is to look at things day to day. You need to have that broad view to see the big picture. Over time you'll be able to push buttons and expect your anticipated returns with a very high degree of certainty.