$5 Facebook Ads. 2019's #1 FB Advertising Strategy! Step-By-Step Guide

$5 Facebook Ads - The Low Risk, High Return Facebook Advertising Strategy

$5 Facebook Ads - The Low Risk, High Return Facebook Advertising StrategyI've been getting a lot of questions along the lines of, ‘How much do I need to start advertising on Facebook?’

...Or: ‘How much money do I really have to spend each day to see results with my FB ads?’

It can all start with just five dollars per day.

This strategy is something I've refined and perfected over the course of several years and hundreds of thousands of dollars in ad spend marketing my wife's products.

I have taught this strategy to thousands of students many of whom have revolutionized their business by implementing this Facebook advertising strategy.

One student in particular was able to scale his revenue from $10,000 per month to over $100,000 per month by leveraging this simple process.

I've also been paid to fly across the world to Asia and Europe to teach this strategy at high and digital marketing conferences.

I share these data points with you because it's important for you to realize how powerful this strategy is…

If conference organizers are willing to pay to fly me across the world to teach their Paid audiences these strategies, do you think it makes sense for you to take the time to learn the strategies?

The obvious answer is… If you want to crush it with your Facebook ads, you must learn this strategy!

Below is my keynote speech from the in orbit 2018 red orbit digital marketing conference.

This is one of Europe's top digital marketing conferences where I revealed a brief overview of this strategy to a sellout crowd.

The 5 Dollar Advertising Theory

Before we dive deep into the theory from this Strategy, we must first talk about some of the foundational requirements you need in place.

You must have your Facebook pixel installed on all pages in your funnel and you need to have your custom conversions set up so Facebook can register a conversion when your campaign is successful.

Best to have your customer audiences, email list audiences uploaded as well so you can exclude people who took specific actions.

Now, if you're just getting started… These phrases may seem foreign to you, but don't worry… you can access my free how to advertise on Facebook course that covers all of these steps here.

and if those things sound advanced, don't worry. Those are the basics of advertising on Facebook and you will be able to set them all up in an afternoon.

This strategy is indeed a beginner friendly strategy and it works well for Shopify stores, affiliate marketers, membership site owners, coaches, consultants, etc.

I have yet to find a business model that cannot be enhanced with this advertising strategy!

So, whether you are just getting started or even if you are already successfully running Facebook ads, this $5 Facebook Ad strategy will hep you take your FB Advertising to the next level while minimizing your risk!

This video below is a more in-depth overview of the strategy... If you still have questions after watching the keynote speech above.

The full step-by-step guide on how to set up these types of campaigns is covered in detail, below... plus you will learn exactly how to analyze the data you get back from Facebook after running these campaigns below, too.

But first, it is important that you understand the successful theory behind this powerful Facebook advertising strategy...

 

If you are on the go and you want to listen to the five dollar per day Facebook advertising strategy in podcast format, here you go!

This is used successfully as an advanced tactic, so don't think this is simply beginners only. It is a budget based idea, but I'm going to teach you how to leverage the $5 Facebook ads so you can advance.

The two biggest reasons why this method works for beginners and advanced Facebook marketers alike is that you minimize your risk while increasing your potential to find new audiences and demographic segments to market to.

If you create your ad set, you've got a campaign going, and all you can afford is five dollars per day, that is truly enough to begin marketing.

The big questions is.... How fast are you going to receive results?

Note, if you are an advanced Facebook advertiser, I go deeper on how this applies to you, in a minute...

Patience is Key

If you are only able to spend $5 per day total, you're essentially saying that your budget is limiting you, therefore, you’re willing to be patient in order to see the results.

Because if you are getting 10 cent clicks at $5 per day, you can expect to see about 50 clicks per day.

Considering that it takes one thousand clicks to run a successful split test.... That's one thousand per variation.

If you're running a split test on your landing page, you're going to need to wait to see approximately two thousand clicks in order to have statistical significance on which one wins.

You run five dollars a day and hopefully you're getting ten cent, or less, clicks. If you are, that's essentially going to take ten, 20, up to 40 days to get 2000 clicks.

Now, can you make a decision based on statistical data sooner? Sure. If the numbers are incredibly skewed to one side or to one variation and you've got 500 clicks, you can consider making a decision.

But the Law of Large Numbers proves that you need to wait until you have a large sample size to make sure that the numbers are reliable.

If you're not making statistically significant decisions on your split tests, you're potentially making decisions based on the wrong data.

The trade off, if you're entering this point with only a $5 a day budget is patience. You have to simply be patient to get the number of clicks to see if something's working.

The good news? It’s a cup of coffee a day. The bad news? It's going to take you a few weeks to get some good data. But if you're putting your first funnel or ad set up and you just want to dip your toe in the water, start with a five dollar add set.

The bad news? It's going to take you a few weeks to get some good data.

But if you're putting your first funnel or ad set up and you just want to dip your toe in the water, start with a five dollar add to set.

Choose Your Ad Campaign Wisely

With a $5 per day budget, do not run a split test on your advertisement. Run one static ad. Try to make it a long-copy, story based ad. Base it on the ads of people in your niche who have done really well.

If you haven’t seen my ‘Spying on your competitors ads,’ check it out here.

At the risk of repeating myself, it is so very important that you model the kinds of ads that have worked well for people in your niche. This way, it has a high likelihood of working for you.

Once you begin your campaign you want to make sure that you have spent as much as you will potentially earn with one sale from your OTO.

Example: I just launched a new funnel and at this moment my average order value is about $60.

What would I do with a five dollar campaign? I would let that run until I spend at least $60 before I decide whether it’s going to work or not. If I spend fifty-nine dollars in ads and then, on that $59.50 click I see a sale, I break even.

If I spend fifty-nine dollars in ads and then, on that $59.50 click I see a sale, I break even. And to me... Breaking even is a total WIN!

If I turn the ad set off at $30 or $40 of spend, when I potentially earn $60, I could be basing a decision on too little information.

I could be shooting myself in the foot because that first sale could be right around the corner.

Know Your Numbers

The average order value is my monitoring mark. I do keep an eye on my cost per lead before I have any sales, too.

You need to know what kind of numbers you expect or what kind of numbers you need to see from your campaigns in order to be break even or profitable. It’s all based on data and statistics.

We call these your 'Key Performance Indicators' or 'KPIs'

If you don’t know your Key Performance Indicators, check out my Know Your Numbers video.

A real business is one that spends money on advertising and turns that into paying customers.

A scalable business is one that knows exactly how much they can spend per new customer and what audience segments are able to deliver customers within that KPI, so they can flow all advertising dollars to the adsets that are proven to work!

$5 Facebook Ads

Step Up Your Game/$5 Facebook Ads

The Advanced Approach to $5 Ad Sets

Let's step up the game here and get a little bit more advanced.

Personally, I use five dollar a day ads on Facebook still, for several reasons... None of which are budget limitations.

I am mainly focus my five dollar ads sets to test new ad sets and more specifically new audiences. The goal is to come up with 30 different ad sets.

When advertisers are starting out, the goal is to come up with 30 different ad sets you want to test.  If you haven't found your most relevant ad sets, check out my video on the Audience Insight Tool where I show you how.

Advanced marketers need to get really meticulous about how they are marketing to new audience segments and need to find out quickly which of these different ad sets are outperforming the others based on your KPI's.

This is where you start with the five dollar ad sets!

Here is my approach: I am always keeping my tried and true ads running because I know these work and bring me leads and customers within KPIs.

But I'm always trying to expand my audience. I always want to grow my reach to targeted audiences that have a high likelihood of wanting to buy my products.

Facebook has over 1.9 billion monthly users and I'm marketing to a few million.

There's a very large opportunity here for me, but I don't want to go moving large amounts of money around while testing these new audiences.

I don't want to jump in with $100 or $200 a day on something that's not tested because odds are I'll lose my shirt!

So I do my research and use the audience insight tool to I find new ad sets that are relevant and worth testing.

I usually focus my research on my competitors.

I'm looking for people who have really strong overlaps with what my niche is. If I think there's a good potential of that becoming a new profitable interest for me, I will duplicate one of my ad sets.

I set up a five dollar per day ad set and focus that on one new audience segment and leverage the same ad that I've currently got running successfully to other adsets.

It is important to run these new $5 ad sets to an advertisement you know already works so you are only putting one new variable in place!

Same funnel, same ad, same everything else. And I'm only spending $5 a day on this one new ad set and one new audience!

Step-By-Step Guide To Run Facebook Ads With The $5 FB Ad Strategy

To follow along in a video where I setup a campaign for this $5 Facebook ads strategy, watch this video below where I setup a retargeting campaign in this manner and show how to duplicate the campaign to add additional $5 per day Facebook ad sets.

How It Works

Let's say I want to increase my budget by $50 a day. I want to scale a little bit but I don't want to scale to the audience as I have.

I want to try to scale into the unknown; into a new territory of audiences.

Here is my work-flow:

I start by finding ten new interests in the audience insights tool that I feel have the highest likelihood of creating leads and customers for my business.

Then I separate them out and start ten new ads sets... $5 per day each.

I duplicate these ad sets from my campaign that’s currently running successfully and simply change the audience at the ad set level.

This process gets repeated for every new audience segment I'm testing.

Then, the job is to go enter the separate interests in each of them and point them all right back to that same advertisement.

This gives me a very effective, neat, and tidy split test on that Facebook's audience interests through the ad set level.

Once launched, it is important to monitor how are each of these ads are doing.

The goal is to make very intelligent decisions based on real data in order to decide whether a new audience and ad set is working or not.

Personally, I'm willing to go a little over my 'new customer' budget if my cost per lead is within KPI.

I'm playing the game a little bit more aggressively. As long as my cost per lead is good, I know that lifetime value of a lead and I'll willing to be patient with my ad spend and nurture the leads.

So I will spend about $80 which is up to 16 days of $5 per day.

(If you are wondering where that $80 number came from... That is one of my KPI's that is proven based on past experience... This is a part of knowing your numbers, which we discussed above!!!)

So I let the new ad sets run for about two weeks and I monitor the KPI's along the way.

Starting out, I monitor my cost per lead daily until I've spent enough to expect a sale (spend $80 if I earn $80 per sale). If my cost per lead is within my standard operating area, I'm good.

Once I've spent $80 (whatever your average customer value is), I make an exectuive decision.

If I have not seen any sort of transactions come through from those ads, I turn them off. I mark it off of my list and I keep monitoring the others.

If I have seen paying customers come through this ad set, I will keep it running and consider scaling the ad spend...

Once I've gone through that process of removing the ad sets out of KPI and deciding which to keep with those ten, I now have some new ad sets that have proven to work added to my standard campaign!

I can now repeat the process from the beginning... Again starting with research in the audience insights tool to find new interests to test.

How To Analyze The Results From Your Facebook Advertising Campaign

In the below videos you will learn exactly how to analyze each Facebook ad set's performance and how to decide whether to scale the individual ad set or shut it down.

The process of analyzing your Five Dollar Facebook ad campaigns requires four videos because we check back in with the same ad campaign four times in the course of four weeks.

this was purposeful to allow the ad campaigns time to gather data so I could be forced to make a decision of whether I turn off the headset, increase the budget for the ad set, or leave it as is.

As you follow along through the data from these four videos you will understand exactly how to decide which ad campaigns and ad sets on Facebook are profitable and worthy of scaling… And which are needing to be turned off!

#FunFact - I was on a road trip while recording these 4 videos below and recorded a couple of them while camping in Northern Idaho and Montana 😉

Week one - Analyzing Facebook ad data

Week two - Analyzing Facebook ad data

Week three - Analyzing Facebook ad data

Week four - Analyzing Facebook ad data

Conclusion - Analyzing Facebook ad data

Start with small budgets to test the audience first and only spend more on ad sets that have proven to work.

Spread your money out really thin to minimize your risk and when an ad set works you know that there's a high likelihood it's going to work again.

When ad sets don't work, you’ve only lost small amounts of money in gathering that data!

It's All About Your Minimum Viable Ad Set

What I’m talking about here is the minimum viable campaign or the minimum viable ad set that you could run on Facebook. That's going to deliver results.

This method works for me and many other great advertisers on Facebook...  It takes patience and discipline, but allows you to make data-driven decisions which is key!

Wash, Rinse, Repeat!

After this new set of interests that I've just tested is done, some are gone some stay in and keep running. Now what do I do? I go right back into the audience insight tool and look for more interests that I've never tested before and repeat this process.

Slowly but surely I'm collecting ads that generate customers for me. Then I increase my spend on the ones that work.

Little by little letting go of the ones that don't work. I'm never really risking a lot of money. I'm never risking a situation where I'm all in on one thing. Spread your wagers out across the table.

$5 Facebook Ads

$5 Facebook Ads Grow Your Business

$5 Facebook Ads are the Perfect Way to Grow

If you are trying to go from good to great and thinking, ‘OK. I've got a few ads working in this area but I can't reach out in these other sectors very well.’   Try this approach!

See if you're able to slowly bring in new interests that work for you.

You don’t have to limit yourself to interests.

You can also do this with look-alike audiences and get really granular in your testing at this level. If you're a spreadsheet person and you're really analytical this is absolutely for you.

You can test a look-like in Australia versus a look-alike in the UK versus a look alike in Canada versus a lookalike in the USA. You can get data that will tell you where you’re getting the best results from.

Cool. Turn off the ones that don't work. Add those budgets to the one that does work slowly

If you have an authority website that receives volumes of organic traffic, you could retarget people based on what pages or topics they see on your site... Starting with a $5 ad set on each topic segment.

You could create a separate audience for people who have read articles about subject A and then you could create a separate audience for people who read articles about subject B.

Then you set up a split test against A and B to start getting statistical data that tells you that people who read article A( or articles about Subject A) on your website have a much higher likelihood of becoming a customer.

For five dollars a day, you learn that you can bring more people who are interested in topic A to your website. Then take that information and apply it to your content marketing campaign.

  • Make YouTube videos on that topic
  • Make more blog posts
  • Create an ultimate guide
  • Build a silo around that topic on the organic side.

When you get these data points that really pinpoint the kinds of people, topics, and interests that deliver you customers, you now know how to build out your content marketing. You understand more about the ad copy that you're running.

You really start to get specific with what's working.

After $5 Ad Sets... What's the Trick to the Game?

Do more of what works!

Minimize your risk while you're testing. Do more of what works. Let go of what doesn't. If it takes 100 ad sets over the course of the next few months in order to find five campaigns that you can run every day, at $20 a day, and break even, guess what?

You've just stumbled upon that magic recipe that's going to allow you to quickly grow your list and build your audience through the lifetime value of those people on your list.

You're going to be able to build a statistically significant business.

I really want to help you get there. If you're just starting out, know that there's room for you to start with a $5 day budget with Facebook advertising. And, there's a high likelihood that, with some patience, you're able to turn that into positive split tests on your pages.

When you start to see things that work at that $5 a day level, inch it up. Get it up to $10 a day. If it keeps working for another week at $10 a day, inch it up! Try it $15 a day.

If your numbers get skewed, you can back it back down to $5 a day if you need to. That's the trick of the game.

Are You Hitting Your Ceiling?

If you're already running lots of ads and feel like you've hit your ceiling in your audience, implement this. If you feel that you don’t have any new audiences to tap into or you feel like you’re spending as much as you profitably can, implement this method immediately.

Find ten to 30 new interests and run a $5 day ad set for each of those to an advertisement that you're already running that is proving to work with another audience. You don't want to start putting new ads onto these new audiences.

You want one variable at that point. Let the ad sets run until you would normally reach your average order value. Then make an executive decision.

You can monitor at the three, five, and seven-day marks. Monitor your cost per lead KPI. If you're used to getting dollar leads and a new audience is bringing you five dollar leads, obviously you could turn that off after day two or three.

The numbers do change a lot on the first few days with small budgets. Facebook has a small amount of ammunition to work with. It can take two to four days for them to find you those .50 cent leads.

You might see your cost per lead going from $2.50 to $1.00 to .75 cents over the course of a couple of weeks.

This goes back to that idea of, ‘make your decisions based on statistics that have significance.

If you don't have a big enough sample size to get enough data to make a good decision, you can potentially turn off assets prematurely.

I generally err on the side of running things a little bit longer than I should just because I've seen an ad that doesn't work and all of a sudden, on day nine, two sales pop in. This completely changes all of my KPI’s.

Now it's within metric. Had I turned it off at day seven, I would never have seen those two sales. Now, it's a profitable ad set for me and a profitable ad for moving forward.

That's the $5 Facebook Ad Game

It’s a great way to start.

It's a great way to grow if you've already started.

It takes patience and discipline, either way!

You need to track what you’re doing and what's working. Keep adding functional ad sets that work for your campaigns and eliminating those that aren’t working.

Focus 80% to 90% of your marketing budget on the ones that have proven to work and then focus that 10%-20% on testing new ones that might work.

About the Author Miles

Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.

Leave a Comment:

43 comments
EDWIN PERMANA says July 8, 2017

Great video on $5 Facebook ads , how long should I run my campaign until I can get a sales click on my shopping cart , and do you have sample template

Reply
    Miles says July 15, 2017

    I spend at least as much as I'd earn from one sale... Check out this video for more: https://www.youtube.com/watch?v=mcAE1CX-09Q

    Reply
    Chris says July 16, 2017

    Hey there!
    I am running a $5 ad for a product that is $14.95.

    Does this mean I should stop my campaign if I do not see results within day three, meaning by that point I'd spent $15?

    Thanks in advance!

    Reply
      Miles says July 16, 2017

      Personally, I go over that number sometimes but that is the general theory, yes. If you add a one-click-upsell you can increase the average order value giving you the ability to spend more for a new customer!

      Reply
Richard says October 18, 2017

Great stuff Miles! i got a quick question though;
When you've found some interests that work, do you bundle them in 1 ad set / audience at a later date?
Or do you keep them separate?

Cheers

Richard

Reply
    Miles says October 18, 2017

    I keep them separate to monitor and scale them each individually.

    Reply
Mohanjit Singh says October 26, 2017

Hi Miles

What do you think about Facebook domination courses by Anthony Morrison?

Reply
    Miles says October 28, 2017

    It is not on my radar at all... Never heard of him.

    Reply
Calvin says October 31, 2017

I have an ecommerce site with several products in a broad niche. My products range in price, but my profit off of each item is on average 5-10 dollars. This leaves me very short run campaigns to avoid going over the 5-10 spent on ads. I've run campaigns that have not had a single conversion. How can I get results?

Reply
    Miles says November 2, 2017

    With those margins, you have two options... #1 figure out a way to add on one-click-upsells to increase your average order value. #2 use content marketing and get traffic from search engines so you aren't paying per click.

    Reply
Frank says November 3, 2017

Hi,
Thanks for this awesome tips. Recently I got to realized that Facebook face false impression. What could be the reason or is it that the ads impression is fully coupled with page likes, shares and comment?

Reply
    Miles says November 3, 2017

    Ya, Facebook's numbers are a mess... That is normal. I only focus on my cost per lead and my cost per new customer so I ignore the impressions or the CPM numbers.

    Reply
Jerry says November 13, 2017

Hi Miles, thank for the tips but, I would like to ask, as an F&B startup company, in which we are selling our meals at $5 or less, is it still worth investing in Facebook ads? If not, what should I do?

Reply
    Miles says November 25, 2017

    I would use content marketing with such a low average order value. If you can figure out how to add on a big upsell to increase the cart value (get it up over $50) then you have a chance to test FB ads.

    Reply
Ashiq Mohamed says December 8, 2017

Hello Miles,

It was such an informative video. I really appreciate the great you are doing.

I have a Shopify store which I want to promote. I have an FB business page also but that is created just for FB ads(The page is not updated/doesn’t have the required level of information).

I want to create a PPE ad. It has a CTA button and an image. When someone clicks on the button or the image, the person is to be taken to the Shopify store and not the FB page. In short, the users are not needed to visit the FB page at all. Can this be implemented?

Regards,
Ashiq

Reply
    Miles says December 8, 2017

    Absolutely! Just set the link in the ad to your landing page...

    Reply
      Ashiq Mohamed says December 8, 2017

      Thanks a lot for the swift response, Miles. I really appreciate it.

      I set the link while creating the CTA button and it works correctly(takes the user to my store). But I didn't find any option to add the link for the image. Clicking on the image takes the user to FB page and not the Shopify store. How to correct it so that the user is taken to the store in this case too?

      Thanks in advance.

      Regards,
      Ashiq

      Reply
Tayo says January 3, 2018

Hi Miles,

I just ran my first Facebook Ad yesterday. I'm only running it for 3 days, I wanted to get my feet wet and I didn't want to overthink things. I'm doing a $5.00/day campaign and It's costing me ~$1.70/per click (for a total of 7 clicks and no opt-ins), so instead of allowing it to run on automatic I've adjusted it to $0.35/per click. Was that the right thing to do? should I lower it or raise the price?

Thanks for any tips you can give me. I'm completely new to Facebook advertising but I've done some research and I've been watching your videos on YouTube!

P.S. the ad is for an affiliate product.

Reply
    Miles says January 4, 2018

    Testing and tweaking as you go is definitely the right thing to do... No 'one right answer' here beyond years of practice, trial, error and testing!

    Reply
karlsult@gmail.com says March 3, 2018

Now in 2018 some are saying fb got so smart that it's best to use an audience size in millions, e.g. 3million. For this we have to add multiple interests in the same ad set.

Do you still place just one interest per ad set and use small audiences (less than 1 million?

Thanks!

Reply
    Miles says March 3, 2018

    Indeed I'm still running ads with one interest per ad set and they are often small... Rarely over 1 million. Still works wonders for me in my business. Testing what works best for you in your niche is key!

    Reply
      karlsult@gmail.com says March 5, 2018

      Great to know that because I like to put just one as well to know if it works or not.

      Thanks

      Reply
makint@hotmail.co.uk says April 11, 2018

Thanks Miles,

This approach is amazing because your actually teaching people how to run ads based on their specific business and understand exactly what they are investing in based on their business KPI's .

I would say the only aspect that confuses me still is the Leads, that you said your feeding to facebook's machine.

what is the difference between leads/ sales conversion? if I do not have 15-50 pixel fires for conversion objective, does this mean conversion will be hard to come by?

Reply
    Miles says April 13, 2018

    The difference is what action they take... When they become a lead, they reach my OTO page... So that is my 'conversion', reaching my OTO page! Doesn't matter if it is a lead or sale or add to cart action you are tracking. If you don't get 50 the FB machine learning will not be as efficient at finding more conversions, as if you did have 50 per week.

    Reply
      makint@hotmail.co.uk says April 15, 2018

      Thanks for the response Miles.
      I guess what I'm really trying to understand is, if I run a conversion FB campaigns will I be wasting my time? I don't have 50 sales a week atm. I've been plugging away since January trying to learn Facebook advertising I really want to understand it in depth! I'm preparing to try your $5 a day method. Secondly, I can tell you really want to help people understand online business properly from your Youtube videos to your website the genuine message and branding is visible. THANKYOU.

      Reply
info@onlineproductkopen.nl says April 19, 2018

Hey Miles,

I work for a company selling office supplies. We work mostly with google adwords, both shopping and search, but I want to expand this to facebook as well. I think it could be an awesome way to generate more sales and get to more people. So I think this will be an awesome method. However, I'm not sure what would be the best thing to do here.. Should I run ads to my productpages or would it be better to create an ebook or something to get leads and than get it to an upsell page.Or should I just test both?
On adwords we obviously just send them to product pages and that works but facebook is a bit different offourse.
What do you think about this?

Reply
    Miles says April 20, 2018

    I think focusing on promoting free information is a better option with cold traffic... But, with that said, why would you go after Facebook traffic instead of LinkedIn traffic? Seems like LinkedIn would have more office people doing office things with office supplies

    Reply
Andres says April 23, 2018

Hey Miles!

I'm about to try this strategy. I'm sending people to a webinar registration page.

My question is very simple:

I read that Facebook needs at least 50 conversions per week in order to be able to optimize. My goal is to optimize for webinar registrations, of course, but $5 per day is not enough to reach 50 conversions a week.

Should I set my campaign to traffic optimization instead? Or shoud I optimize for webinar registrations even though there's no way I can reach 50 conversions per week using $5 ad sets?

Thanks.

Reply
    Miles says April 23, 2018

    Why do you think $5/day is not enough for 50 opt in's per week? Do you have any data that backs this limiting belief up? How much would 50 opt ins/week cost? I only run conversion campaigns and recommend that approach for you, too

    Reply
      Andres says April 26, 2018

      Yes I have the data.

      I've spent $1772 in the past 2 months testing different audiences and devices. The average cost per webinar registration has been $4.79. The average cost per click has been $1.68.

      My market is people who suffer from procrastination to the point that it is affecting their lives badly. My CTR is 1.97%.

      I've tested a combination of interests including personal development and entrepreneurship, as people who work for themselves usually struggle with procrastination.

      I've not been able to lower this cost no matter what I try.

      Reply
        Miles says April 26, 2018

        Sounds like the ad copy... Appears you are getting a 30% conversion rate to the opt in page, which is great... What is your close rate on the webinar, you should be making money on those leads! And I bet your relevance score is below 7... Another sign that ad copy is the issue.

        Reply
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Reply
    Miles says July 6, 2018

    This is by far the WORST comment spam ever.

    Terrible beyond words.

    Not even a valiant effort!

    Reply
Ramon says July 25, 2018

Hi Miles,

I've been following your strategy for a while and it worked. I've ran into an issue lately. I'm trying to target a specific location (~2.5MM accounts) but when I create different ad sets for the same location with different interests, all the ad sets don't run but 1. Seems like the adsets might be competing against each other? How do I tell?

Thanks!

Reply
    Miles says July 26, 2018

    Check out the audience overlap tool… I don't have the video on it, but this post shows how: https://www.socialmediaexaminer.com/how-to-use-facebook-audience-overlap-tool-to-prevent-ad-fatigue/

    That will tell you if you have an audience overlap issue. One big challenge might be that there's simply not enough people in an interest-based audience within the physical location of 2.5 million people. If only 30,000 people have the interest in only 100 per day logon, you probably won't be able to target them.

    Reply
SHEILLA BOUDREAUX says August 27, 2018

HOW DO A FIND LIST OF DEMOGRAPHIC GROUPS OFFERED BY FACEBOOK?

Reply
    Miles says September 2, 2018

    Just go into the ads manager and do a bunch of research.

    Reply
Adi says September 16, 2018

Hello Miles,
Thanks for the detailed information! Very insightful.

Few questions, please, if I may -

1. Considering you're running the '$5 a day' testing and you've reached your AOV but didn't reach 50 conversions / week for facebook to complete its learning phase. Would you still drop this ad set or should you wait a bit longer?

2. Considering you've reached your AOV but you have no statistical significance for your 10 ad sets tested so you can't really conclude which one is better, will you drop the testing or let it continue running?

3. Before trying the '$5 a day' test, I had a conversion campaign that ran perfectly in terms of my KPIs. I learned from it that a specific age group is converting much higher than all others (using the Facebook 'view charts' tool on the ad set) so I used the '$5 a day' strategy to run a new ad set targeting this age group specifically and comparing it to others. Unfortunately, results were much worse (A higher CPC and a lower CTR).
Why is that? Is it because Facebook needs to re-learn everything from new? Is it because the budget per day is much lower?

Thanks so much!

Reply
    Miles says September 18, 2018

    1. no.
    2. continue.
    3. who cares why, just keep doing what works.

    Reply
Keith says December 4, 2018

Miles, love your stuff, if I ever am googling around for answers to my facebook ad questions I always throw the name Miles into my search and hope that you show up :-).

My question is when I run the $5 ads I have putting a click max amount in facebook to $1, I just have a hard time seeing a click that cost me more then that, I totally cringe :).

Is putting a max click amount an okay practice?

Thanks, Keith

Reply
    Miles says December 4, 2018

    It can work fine with click max... Monitor your results for a few days then try the other way for a few days. You probably won't notice a difference.

    I try to give Facebook as few parameters as possible, personally, but I watch my numbers very close... Because I also don't TRUST facebook 😉

    Keep testing different approaches, you'll find your method! And I'm glad my content continues to deliver!

    Reply
Bob says December 12, 2018

I wish I found this information before I wasted 2 grand in adspend. I'm targeting people in Manhattan and my cost per clicks are always 2 - 3 dollars. This seems ridiculously high compared with yours. When not using a custom audience what is a decent target price for cpc to target people in a major city? Is it even possible to get clicks for under $1 dollar in a major city when not using any type of custom audience. I can't help but feel as though I'm targeting people all wrong to have such high clicks. And when I see your 3 cent clicks it makes me wonder if they would be 2+ dollars for cold traffic that wasn't retargeted. Any insights on this would be great because my cpc is what ruins facebook ads for me.

Reply
    Miles says December 13, 2018

    As with many things, I think Manhattan would probably be one of the most expensive geographic targeting areas on Earth. every major city will always be different because supply and demand is just going to be different. my niche is not filled with a ton of FB marketers so I'm able to get very good ad costs... but many people I know spend 1 to 2 dollars per click and upwards of $10 per lead (some a lot more than that for super specific niches and high-value services).

    With enough testing you will eventually find the ad copy, the audiences, the landing pages that all work together to get you a high value prospect or client at a fair price. It took me over $10,000 in testing to find my groove

    Reply
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