Cut your Facebook ad costs in half by broadening audience targeting while narrowing by gender and age, then waiting 2-3 days before making changes. One advertiser dropped cost-per-acquisition from $40-$45 to $20 or less using this approach.
In this video, I want to talk about a Facebook hack that's allowed us to get our cost per acquisition from $40 to $45 down to $20 or less using a really simple method. And it's all about targeting broad and having a little bit of patience. So let's jump into the Ads Manager. I'll show you some of the simple changes we made. Try them out on your account. You should get some really, really good results after you implement these things. So first things first, let me show you what everything looked like initially, and then I'll take a look and show you at the changes we made. And how then they affected everything. So overall, we had quite a lot of different campaigns running, quite a lot of different ad sets being tested, and you can see over the lifetime of it, especially over the past like 7 days or so, our cost per acquisition is around $39. Not bad, but we want it to be at around $25, $20 or less, at least sub-$30s is where we want everything to be. So what we started doing is we started analyzing and seeing, okay, well, who's actually buying the products the most, and it looked like it's leaning towards more women from 35 to 65+ inside of Facebook and Instagram at least. So what we did is we did an initial broader test, you'll see right, gotta find it here really quickly, right here, where we did this broader test right here and we tested a winning ad that was really, really crushing it for us paired with women only. That ad started to work really, really well, $29 per purchase. And that's the first thing that I really want to break down is that a simple change like gender, age range, and placement can make all the difference in your ad performance. Don't think that you need to be testing a ton of things all the time. You should be doing that and you should have tests lined up. But sometimes the answer always isn't testing a new ad or a new asset or copy. It's just doing more of the media buying stuff. Instead of the marketing stuff. And that's really where you need to look at when you have a bottleneck in your ads or in your business, especially in the marketing side, is look at is it a media buying problem or is it a marketing problem? If it's a marketing problem, then you need to look at fixing the offer, the congruency, the transparency between what you're offering and what they get. If it's a media buying problem, then there's optimizations that you can make such as age range, gender, placements, different things like that. Bidding, so on and so forth. So in this case, we fixed an issue. It wasn't a huge issue, but we dropped our average. Our average is $39. We dropped this to $29, $10 less. You can see us doing it over and over and over again. You can actually see another one, especially over the past couple of days, where the cost per purchase is perfect. Boom, here's another one. Broad, women only, that same one. And you can see that they actually start to improve over time. So that's another piece that I wanna kinda show you here, is making sure you have really, really good patience with a lot of your ad sets. So you can see this ad set right here, this is in a CBO campaign. Overall right now it's doing really well, $29 per purchase, it's crushing it. Now when we started this one off at the beginning of last week, it was pretty expensive. 3 purchases, $58 per purchase. Not that great. Then it was $60 per purchase. Then I think it had a pretty good drop and it went down to $22, which is awesome. And then it had a little bit of a spike at $49, and then ever since then it's stabilized and been really, really solid. $25 per purchase here, $24 per purchase there, $19 per purchase yesterday, and $23 per purchase today. And that's a really big point that I really wanna end this video off with, is making sure that you have patience. You gotta give your campaigns and your ad sets and your ads time to marinate and time to improve. You need to give them at least 2 to 3 days before you do anything with them, because if I judge the performance off of day 1, day 2, and even day 3 after I launched it, I would have thought that the ad set really, really sucked. But in reality, it didn't. It had a little bit of ups and downs, but then it started to stabilize, and over the past 3, 4 days, it's been very, very consistent. So those are the 2 things I want to leave you with, is one, make sure you test the media buying stuff just as much as you test the marketing stuff. Simple changes like age range, gender, and things like that can have a really, really big impact on the performance. And then finally, make sure that you give things time. Wait 2 to 3 days before you change anything, whether it's a high budget or a low budget. And if you're spending a high budget and you can't stomach waiting 3 days without doing anything, you're spending too much. Put the budget down and wait those 2 to 3 days because you may have just killed a winning ad set for no reason. And making more work for yourself for absolutely no reason at all. So I hope you enjoyed this video. If you did, be sure to drop a comment if you have any questions, like it, and subscribe for more stuff like this, and I'll see you in the next one.
