I remember playing with Facebook advertising a while back and I was pleasantly surprised to see how much its evolved. To setup the ads and manage this campaign I used the Facebook Power Editor which is an offline tool that runs in Google Chrome. It’s certainly not the easiest tool to use, but it gets the job done.
I already had a Facebook page for 6PS so the only preparation I did was insert Facebook conversion tracking pixels into my landing pages. I added four pixels: one when the page loads, one when the request form is submitted, one when a share event is triggered and one when the download occurs.
I set my daily budget to $100 (my max spend) assuming Facebook would be able to dish that out all in one day. I’ve never been big on the Facebook banner ads so I opted to strictly use promoted posts. I selected “Website Conversions” as my objective type and ticked off all my tracking pixels.
I’ve struggled to decide whether to use CPM or CPC in all my campaigns. It’s hard to justify paying entire dollars ($2-5) for a click regardless of network. I’m confident in my creative so I feel like if it gets seen it will get clicked. For that reason (which may not be a good one) I generally lean towards CPM which I did here. I also selected “Optimized CPM” which allows Facebook to do my bidding for me.
I created 4 ads. Two creatives and two targeting options. The creative difference is a test between whether to use the verbiage investor or trader. Both ads used the same image. Here’s an example of what they looked like:
All the targeting happens at the ad level, so you have to create a ton of ads if you want to test all content and targeting combinations. Facebook does however allow you to setup Targeting Groups which can be applied to your ads. This allows you to setup your targeting once and apply it to any ads you wish.
I created two targeting groups based on different interest targeting. One group I called brands and one I called generic. Both groups target any gender between the ages of 20-50 in the US. The brands group includes big brands in my space as well as competitors and the generic group targets interests like “Day Trading” or “Stock Trading”. Surprisingly, the audience size for the generic group is only 150k while the brands group is 1.66 million.
I still haven’t done much to optimize my landing pages for mobile (even though they look great on mobile thanks to Bootstrap) so I opted to only target the News Feed on Desktop.
I finished designing the campaign on 11/7/13 and Facebook fired it off and burned through the $100 that same evening. Here are the results:
|Date||Campaign||Imp.||Clicks||CTR||CPC||CPM||Cost||EB Goal||DB Goal||CPA|
|11/14/13||FB: 6PS eBook||15,832||96||0.60%||1.03||6.21||99.28||12 – 12.5%||0 – 0%||8.273|
And here are the results on an ad by ad basis:
One thing’s for certain, I screwed up by adding a conversion pixel for when the page loads. I thought I would be able to break down the results by pixel but I can’t. However, this did give me some insights. For example, see the ad with 57 clicks? It only had 45 conversions which means conversion pixels only loaded 45 times. When I subtract the 5 pixels that fired from real conversions on this ad I’m left with 40 “conversions” out of 57 clicks! Google Analytics tells me that this entire Facebook campaign only attracted 47 unique users which is 50% of the total clicks! Glad I didn’t pay on a CPC basis.
The conversion rate and engagement with my content after downloading was super low. I think this is because people just aren’t looking for this type of information on Facebook. Pretty disappointing, but thats why we test it.