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It stories like this that make me think I should just build an app that does automated Facebook ad optimization, these guys could have done a lot better than th
by ig1 15y ago
It stories like this that make me think I should just build an app that does automated Facebook ad optimization, these guys could have done a lot better than they did. I've run ads targeting US tech audience at 0.5cents a click.
A few tips:
1) Buy ads on a CPM basis, if you're getting a good conversion rate then CPM is a lot cheaper than CPC on Facebook.
2) Don't target a bunch of keywords together, chances are some of those keywords have great CTR and some of them have terrible CTR, running one ad targeting them all means you can't filter out the poorly performing keywords.
3) Geographic focus, concentrating on the major tech areas rather than the whole US would probably give them a much more targeted audience.
4) Their budget was too high to begin with, you can experiment on a much smaller budget to get statistically meaningful results. Once you've figured out what works then you can start throwing money at it.
- ultrasaurus 15y agoAccording to my stats [1], the implied click through rate is .04%, so you're very right this ad group would've saved money on average [.057%] (And almost half if they had stuck with the .077% converting ad). [1] http://euri.ca/2011/04/facebook-advertising-prices-part-2/ http://euri.ca/2011/04/facebook-advertising-prices-part-2/
- ig1 15y agoNice model, unfortunately it doesn't work because of a couple of factors: If you run CPC ads Facebook will show your ads more often to users who are "click happy" (they've said so publicly), there's also an impression among a lot of advertisers that Facebook charge a premium for CPC (which they haven't been willing to confirm or deny) Also if you're buying CPM Facebook give you a "quality" discount, so if you have a good CTR you actually end up paying a much lower price than the initial suggested bid.