Learn how to optimize marketing campaigns and lower the cost of customer acquisition with 5 copy/paste strategies to scale your Facebook ads. Discover the importance of profit-first, different campaign types, optimization rules, and a success metrics calculator. Find out how these strategies can be applied to affiliate marketing as well.
The video discusses how to optimize marketing campaigns and lower the cost of customer acquisition. The speaker advocates for profit-first and breaking even on the front end of campaigns before monetizing on the back end. The three main topics discussed are acquisition prospecting, retargeting, and retention. The speaker also explains optimization rules and shares a calculator tool for making clear judgments on campaign success.
No matter if you're spending $100 a day or $20,000 a day, this will work and lower your cost.
Now as you can see here on the left we've got out top of funnel
that's the cold traffic or the acquisition campaigns and we spend about
70% of our budget here. That's when we want to acquire our
customers and while a lot of people say you should be willing to lose
money on the front end, I am very much still an advocate of profit-first so we
want to at least be breaking even on the front end for one reason and one reason
only -- aggressive scale. If you guys are spending 10/20 grand a day and you're
not at least breaking even on the front end, you're gonna find it very difficult
to scale so we do want really salesy creatives still and real direct-
response creatives even when marketing with ecommerce so that we can break
even and then we monetise on the back end with our middle, bottom of funnel and
our post-purchase campaigns.
Acquisition prospecting is the first one.
Those are people that don't know you so there's a bunch of people in the world
that never saw your brand. They don't know your brand. They don't know what
your services and products are. Then you have people in a second touch. They maybe
saw your video ads or they engage with your ads or engage with your page right
but they never been to your website so kind of they know who you are, they're
likely to know who you are because it's second touch class. It can be also the
third/fourth/fifth touch but they have not yet visited your website which shows
the intent of the purchase in an ecom scenario and also in lead gen so that's
basically the second touch. Those are totally different campaigns,
totally different content, different optimisations you want to do there. Then
we have retargeting. So once we manage to bring someone to our website, we want to
retarget them back. We have high intent visitors, low intent, you have people who spent
a lot of time on your website and the people that spend less. There is
different value and then retention so those are your existing customers.
What we can do is we can increase or double the budget three to four times a
day and generate a very similar result to when we were spending at low scale. Of
course the CPA is going to increase a little bit but that's one way that we
have then got our optimisation rules that I mentioned earlier to trim away
the fat on those campaigns. So increase the budget or double the budget three to
four times a day works great and that can take a $1,000 dollar campaign
from 1k to 2k to 4k to 8k to even 16k per day so you can see how you can scale
these campaigns extremely quickly plus when you've got those mega CBOs in
there, all of that data and all those inputs that you're giving to Facebook
and all the different options really feed the algorithm to support and
sustain these high budgets. By setting up these automated rules, we're able to save
a heap of money by cutting back on what's not working throughout the day
and really scaling up what is working. So as you can see there our optimisation
rules we've got our stop loss on the ad set level and so if an ad set spends
200 bucks throughout the day without sales, we just turn it off. By setting up
the rules this way, when you spend over $1,000 and the CPA is
greater than 65 then we turn off either the campaign or ad set depending on how
you want to set it up. Once the CPA is 55 dollars, you'll notice it's a bit
stricter and it's still above our target CPA then we turn off the campaign and
finally we actually hit our target CPA for optimisation once we're spending at
least 2 grand and then of course we've also got a safety rule. If we do have
delayed attribution we are turning back on a campaign if it becomes
unprofitable so if it spent over a thousand bucks and the CPA is profitable
then we're going to be turning it back on.
If I were to build something now, it's a little bit more scientific right. How do
we make sure that we're actually making clear judgments at this funnel? Well we
build one of these, nice little calculators. On top we have our correlations,
right below that we have our conversion rates, in there bottom we have our
success metrics. These success metrics turn every single junior media buyer
into an intermediate or advanced because now we're confident and the most
consistent question I get alongside from the creative is how do we get good
buyers? I know Savannah talked, Dim's got a team that he's trained and I
guarantee you the difference between a good buyer and a bad buyer is a good
buyer knows how to spend money and is confident pushing dollars. Bad media
buyers won't spend money. So we look at the correlations. This is to see if
CPC any indicative of a future purchase. Most likely not but maybe it is.
This is simple in Excel. It's just corel versus two channels, easy
export. What about our conversion rate? If you're gonna click, how likely are you to
get to my cart? Well if you're getting it to my cart, how likely are you to get to
my checkout etc. These things are all very simple to pull, this is a simple
calculator. I'd love to share it with you, you guys have my email. And lastly we
have our ROAS target. Sometimes you can't spend up to $2,000
or $200 or $400. You have to cut it earlier so if
your metrics pre-purchase are not in line, cut it.
Let's say that your cost per sale on your ad account is usually $40. You're
gonna bid $20 to start. Okay again here's what it looks like so you're gonna
do lowest cost with a bid cap. There it is, 20 bucks, and notice this little guy
down here -- "accelerated". I normally don't recommend to do accelerated but this is
one situation where I do. So you're gonna set the pacing to accelerated there just
like I just pointed out. Instead of standard, this is like the equivalent of
putting your foot down on the gas pedal and getting going quick. On normal
campaigns this would waste money but you'll see in a second why for this it works great.
In this video, the speaker discusses various strategies to lower the cost of advertisement while maintaining profitability. The speaker emphasizes the importance of profit-first and scaling aggressively to succeed in the ecommerce industry.
The speaker talks about three different types of campaigns: Acquisition prospecting, Second touch, and Retargeting. Acquisition prospecting is all about targeting people who have never seen or heard about the brand. Second touch targets those who may have seen or engaged with the ads but haven't yet visited the website. Retargeting targets visitors who have already shown interest in the brand but haven't made a purchase yet. The speaker highlights that each campaign class requires different targeting, content, and optimization strategies.
The speaker explains the importance of setting up optimization rules to increase profitability and scale the campaigns quickly. These optimization rules help to identify underperforming campaigns and ads and cut them out. The automated rules also turn off campaigns or ad sets if they don't meet the target CPA or the cost exceeds the stop-loss limit. The speaker also highlights that setting up safety rules for campaigns with delayed attributions is crucial to prevent losses.
The speaker suggests building a success metrics calculator that includes correlation, conversion rates, and ROAS targets. The calculator helps to make informed decisions about the campaigns and give confidence to junior media buyers. The correlation is used to determine if CPC indicates the future purchase. Conversion rates help to understand how likely visitors are to complete the purchase funnel. The ROAS target defines the maximum spend limit based on pre-purchase metrics. The speaker emphasizes that good media buyers need to be confident in spending money, and the calculator can help them make informed decisions.
The speaker suggests a bidding strategy to start with the lowest possible bid, coupled with a bid cap. He advises using the accelerated pacing option as it helps to gain momentum. The campaign pacing needs to be set based on the campaign goal, and though acceleration mode is generally considered a waste of money in the regular campaigns, it works great in certain situations like starting a new campaign.
These strategies can be applied to affiliate marketing as well. Affiliates can leverage these tactics to lower their ad costs while maintaining profitability. The calculator and optimization rules can help affiliates to make informed decisions about their campaigns and scale them quickly. The bidding strategy can help affiliates to start with a low bid and gain momentum, leading to better results.
The speaker discusses strategies for optimizing marketing campaigns, including acquisition prospecting, retargeting, and retention. He emphasizes the importance of profit-first and breaking even on the front end to scale aggressively. The use of optimization rules and a success metrics calculator is also highlighted, along with a bidding strategy for effective campaign pacing. These strategies can also be applied to affiliate marketing, offering tactics to lower ad costs and scale campaigns quickly.
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