How To Get A 5X ROI On Your Facebook Ads tutorial
1.Audiences. For cold audiences, I’ve always found that separating interests individually with each ad set is the best way to start. This gives you a very accurate idea of which interest is converting and which isn’t. Combining them all together into 1 would be a good idea once you’ve already decided which type of interests convert for you but not in the beginning as you have no idea which interest converted. E.g if you’re a fashion brand and you individually targeted Supreme, Adidas and Nike and found success doing that. You could then combine 5 other similar brands into 1 adset to scale up faster.
However, if you wanted to test at scale and quickly you could combine them all into 1 ad set at a higher budget to instantly find out whether a group of interests converts to begin with. E.g you could combine 5 shoe brands into 1 ad set, 5 t shirt brands into another, 5 jeans brands into another etc to find out which one converts the best. Once you find out, you could then separate the 5 brands into their own respective ad sets and go from there.
You’ll quickly build up retargeting and lookalike audiences (LLA) if you do this. You can then go on to separate each retargeting audience by event type e.g Purchase, Initiate Checkout and Add to Cart. From there, you’ll want to create and test ads like I’m about to cover in the next 2 points. I recommend that each event type and LLA should have custom ads made for them.
Add To Cart audience might receive testimonial ads, checkout audiences might receive a coupon and purchase audiences might be offered to buy more products. If you combined all of these event types into 1 ad set it’d be very hard to convert them all individually at scale. The same goes for LLA audiences. Create one for each event type and separate.