TLDW; In today’s bonus Facebook Ads vlog, you’ll learn how to optimize Facebook Ads for ROI to ensure you’re spending your budget effectively.
How To Optimize Facebook Ads For ROI – Time Stamps
01:59 – ENTREPRENEUR RANT
02:49 – HOW I GET TO FLY BUSINESS CLASS
04:57 – THE GRIND AND THE HUSTLE
05:57 – INSTAGRAM IS NOT REAL LIFE
06:35 – HOW TO OPTIMIZE FACEBOOK ADS FOR ROI
07:33 – BALANCING RETURN ON AD SPEND
09:08 – GOLDEN DAYS OF FACEBOOK AND CUSTOM AUDIENCE DATA
09:29 – A LOT IS HIDDEN UNLESS IT’S INTRA FACEBOOK
09:49 – ASSETS EXTRA-FACEBOOK, THE DOWNSIDES TO YOUR FUNNEL AND HOW TO OPTIMIZE FACEBOOK ADS FOR ROI
10:39 – A QUICK AUDIENCE HACK
12:22 – ADS AREN’T DELIVERING AND THIS IS WHY
13:35 – WHERE THERE’S AN ISSUE THERE’S A WAY…
14:15 – CANNIBALISING YOUR ADS
14:38 – HOW TO GET FACEBOOK TO DO THE HEAVY LIFTING
15:50 – WHICH LANDING PAGE?
17:00 – THE MAIN REASON THE ADS DIDN’T DELIVER
18:47 – WHY WERE WE SELLING MORE TICKETS BEFORE?
19:15 – WHY WAS OUR DAILY CAP HIGHER THEN AND NOT NOW?
20:57 – HOW TO OPTIMIZE FACEBOOK BUDGETS
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How To Optimize Facebook Ads For ROI – Transcript:
The following transcript begins at the start of the FaceTime call with my client. Feel free to watch the entire vlog or simply read the below to learn how to optimize your Facebook Ads for ROI.
– [Paul] Mr. Zac, dude your on the vlog say hi!
– [Zac] Hi, what’s up?
– Are you naked man?
– Yeah man yeah woops hahah. I was about to have a shower I didn’t know you were going to call. But I’m ready to talk business. I’m always ready to talk business.
– Dope Dope. I was just telling the vlog that. Let me just fix the camera angle up.
I was just telling vlog in terms of what’s been happening in ticket sales, and how to optimize Facebook Ads for ROI given what’s been happening over the past few days in terms of optimizations we’ve made and we’re basically 10 days out and this is the kill zone. And basically I just want to have a chat about the change and strategy, and a bunch of optimizations that I’ve made today. And get your permission to push forward on some other optimizations, and ideas that I have to basically generate any sales in the next 10 days as much as possible.
Alright, so I’ll give you the low down of what I’m thinking. I’ll tell you what I’ve done and what I’m thinking alright. Optimizations I’ve made a few days ago were f**** great. Here is the f**** problem none of the ads are delivering like at all. And I’m looking at all the data, and I think I worked out why they aren’t delivering. There’s a lot of variables going on affecting how to optimize Facebook Ads for ROI.
Obviously we re optimise campaigns the ads the reenter learning phase. Because the ads have reentered learning phase they haven’t been delivering as much as they should be.
How To Optimize Facebook Ads For ROI:
On top of that because we are on a lifetime budget now and not a daily budget, and because we had a seven day conversion window there wasn’t enough time or data to propagate through which is why they haven’t been delivering as much.
Now on top of that we’ve also got the other issue which is, because we’re running so many ads to the same people now and because the more and more people that are purchasing tickets the smaller the net we have to target people it’s getting tighter and tighter. Hold on foods here give me two secs. Alright, I got some calamari and I got some chips. I’m a happy boy let’s call Zac back. Hey hang on champion. You look so zen right now.
How To Optimize Facebook Ads For ROI – Transcript (Continued)
– [Zac] Huh?
– You look so zen right now. Okay so
– Basically it sounds like there’s an issue with the lifetime.
– I think it’s so much lifetime strategy. I think it’s the combination of the lifetime strategy with the bid caps. So what I’ve done is I’ve removed all the bid caps, and than what I’ve also done is I’ve combined the majority audiences. So in Brisbane there was 3 more campaigns running, and I’ve combined the going and interested. I’ve split tested the people going but haven’t purchased and the people that are interested but not purchased and split testing those. Neither of them were delivering.
So then I combined both of those ad sets into the same audience into a new ad set. Turned up the budget so I could get a larger net, and what I’ve also done is remove the big cap and I’m going to monitor, and I’ve done this for Sydney as well. I’m going to monitor the return in ads spent over then next few days, and than like I said remove big cap.
The other thing as well is what I think is happening here is because we are spending so much and we are targeting the same audiences as things are coming down into crunch time what I think might be happening in the back end is that we are cannibalising our own delivery to our audiences, because we are trying to deliver too many ads from different campaigns to the exact same audiences. Does that make sense?
– That does make sense.
– So given what we know in terms of how to optimize Facebook Ads for ROI… what I’m hoping is the combination by removing the bid cap further optimising the campaigns, and collating them into larger ad sets with bigger audiences that Facebook can do the heavy lifting for us, and we will get the idea of what the return in ads spent is going to be like hopefully by this time tomorrow if not sooner as a result of the changes that we’ve made. And what I’m also thinking of doing is, and this is where I need your permission for is to turn off the attraction campaign for Sydney and Brisbane.
– So the campaign is trying to find new customers.
– Yeah that’s what I’m thinking just for the next few days just to see if that has an affect on what’s happening at the bottom of the funnel. We can leave them on. This is the thing though, you know what, this honestly disregard exactly what I just said. I’m just workshopping in my head right now.
How To Optimize Facebook Ads For ROI – Transcript (Continued)
From a how to optimize Facebook Ads for ROI perspective, that makes no sense at all. Caz turning those off won’t have an affect on the commitment side of the campaign, because that’s targeting cold traffic which has nothing to do with the traffic at the bottom of the funnel. So leave them on. Plus, we’re getting pretty good landing page views like really cheap landing page views. From the 10th of February to the 13th of February 624 landing page views, but 23 cents per view on the landing page.
– That’s who’s going through the website?
– Yes correct.
– Is it going through the ticket booth or going through Discover Hidden.
– Discover hidden discover hidden because the discover hidden landing page is a way better sales page than the Brisbane landing page it’s just a check out page do you know what I mean? And on top of the funnel we are trying to educate people about what’s going on with the event right? So if you landed on the really sexy discover hidden page than their going to click through right to the initiate checkout for their city as opposed to.
– But it’s only one extra click.
– Yeah 100% but as well because their cold we need to warm them up a bit more before we go and ask for their purchase
– Yeah sorry yeah I agree.
– So the other thing as well is the Sydney attraction artist promo campaign is also doing really well. And it’s delivering properly. So the attraction artist campaign for Sydney we’ve got 1,097 landing page views at 23 cents per landing page view over the past 3 days which is really good. It means that people are watching the video content, looking at the ads, engaging with them, and clicking through, and going to the discover hidden landing page. Which than allows us to re target them on the commitment end of the funnel.
The large reason I believe for the last few days they haven’t bought is, because the ads haven’t been delivering properly which is the big changes I’ve made this afternoon which is why I’ve also removed all the bid caps. Last time we spoke I increased the big caps, and than they still didn’t deliver because we are trying to maintain the return in ads spent while also getting as many purchases as possible that’s what we were discussing on Sunday I believe.
I didn’t want to like turn the bid caps off because I didn’t want what happened to Perth happen to Brisbane and Sydney especially when the budget is already so tight. Do you know what I mean? But we haven’t been converting anything. We have a very small amount, but not enough. It’s very challenging.
– Yeah I’m just looking at my graph yeah. Apparently, I’ve got two sort of trend lines. The trend line that we were on.
– Yeah no worries. Sorry I might just cut you off for a bit. Are you saying that the trend line we were seeing on before we changed the strategy was generating more sales and a higher return ads spent. No more sales quantity wise than.
– Sorry hang on. What I’m saying is if we strap line the data from what we had three changing strategy and than strap lined the data from changing strategy we end up with a lot of ticket sales at the end when you strap line.
– Yeah I understand, but we also
– We end up with like a raw and just like a raw and happy to hear. This from a very basic apple to orange just comparison. We are going to end up selling less tickets on now than the path where we were on.
– Yeah got it. I agree with you. And the reason that we were selling more tickets before is because the daily budget that we were running with before were a lot higher than what they are now, because we’ve adjusted all the budgets to fit the lifetime budget goal in each city. And that’s also tempted by the fact that we haven’t really used any budget over the last like two days. We’ve only spent 2,000 dollars over the last two days, because all the bid caps have stopped the purchases going through. Does that make sense?
– Yeah okay so next question is why was our daily cap higher and now that we’re close and we have increased the data and than we set our daily limit why would the daily limits be set at start be higher than what we have to spend daily right now?
– 100% so the reason I set them higher was because again the ads weren’t delivering through as much as what they were. Some of the daily budgets were at 125 dollars, but we were still earning 50-55 dollars worth of that daily budget. Does that make sense? Because of the bid caps.
– When we were on a daily budget?
– Yeah. So I turned the daily budgets up so that we would get more people through given the bid cap and the return of ads spent cap. So here’s the solution
– What I’m saying is were we spending. Was our daily limit just after we updated the budget was our daily limit going to run our prior to getting to here?
– If we were running that daily budget at that level yes it would have yes.
– Why? Haha
– What do you mean?
– Why were we spending
– So because of the bid caps, and because weren’t meeting the budget I turned up all the budgets to get as many sale through while also maintaining the return in ads spent before we did the I can’t remember the date that I did it. Before I did the large budget optimization prior to that Saturday during the Wednesday maybe two weeks ago. Because we weren’t getting the sales through with the bid cap. So I was trying to balance the return of ads spent goal with our overall budget. Does that makes sense?
– Yeah yeah it does I just
– Don’t sugar coat anything just be frank it’s all good.
– No no I’m not sugarcoating I don’t dare to with you.
– No not at all.
– I get the bid cap side of things, and I get tryna generate sales. But if we were spending an amount per day that meant that now we don’t have the sources available for the rest of the campaign that’s the part that doesn’t make sense.
– Yeah so the budget we were spending more than what was going to happen with the total end of the campaign in mind, but what we were actually spending was not going to get us to the budget at the end of the campaign. Does that make sense? So we set the daily budget limit, but we’re only meeting fractions of that limit everyday variable to the bid cap to maintain returns in ads spent.
– So we actually didn’t end up spending that amount of money
– Correct Correct which is why I turned it up even more so that we could maintain the return of ads spent and deliver to as many other people as possible without dropping below the return in ads spent goal that we were trying to achieve.
– Yeah so when we turned it up we then started spending enough sustainable amount right?
– Not so much. So I made so many optimizations its hard for me to say, but I know for a fact that I can go through and build a report for you if you want. Basically like let’s say I increased one of the ad sets that we’ve spent that was generating you know a 15x return in ads spent right. Let’s say one of the optimizations I studied was 100 to 225 dollars daily. At 100 dollars daily because of the bid caps we weren’t spending all of our budget. We might have been spending let’s say 40- 50 dollars. So 50% of that 100 dollars. So I turned it up higher which wasn’t going to make the lifetime budget to get more sales through at that return in ads spent it still wasn’t meeting the $225 daily budget. So it just gave us more room to play with.
– So that means we still shouldn’t have been spending more than what we have now right? So if you turned up the limit to above what would be sustainable. If we weren’t hitting
– What do you mean?
– If we’re setting it to 100 dollars and are spending 40 dollars than you wouldn’t be spending 100 each day. If you move it up to 200 so you spend 100 each day which is our daily budget so it wouldn’t be sustainable.
– Yeah so basically what I was trying to do was balance the diminishing marginal returns that we were experiencing without replicating the massive loss that we made in media spend in turning up the budget for Perth leading up to the few weeks leading up to Australia Day.
So I didn’t want to turn the budget up, remove the big cap. If I turned the budget up, removed the big cap, and let it role it would have spent all the budget but the return in ads spent would have disappeared. Then we wouldn’t have had any budget left, and we’re trying to get as many sales through at that point in time. We are still trying to get as many sales through.
But I didn’t want to turn it up without a bid cap, because of the return of ads spent would have dropped significantly. I didn’t want to replicate what happened with Perth over that two weeks prior. Alright phone calls over it went for two hours. This is the thing about running a business you just got to put fires out all the time and it was a really productive chat. The work showed a lot of things that were going on.
A lot of extraneous variables carrying the market place that we have to deal with, and we have to just build strategies to find solutions to hit the goals that we are trying to meet for this festival. To hit the sales goals, and the ticket sales we are trying to meet for this festival so big chat big chat.
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