A question I see everywhere, particularly from those that are quite new to FaceBook advertising or affiliate marketing in general is 'How much should I be Spending when Testing a campaign'.
There's no one right answer to this and there's a variety of ways people go about allocating a test budget for their teespring campaigns. This article will cover how I personally go about this and the mindset behind it.
The above image consists of a few of my previous campaigns. These campaigns are similar to each other because of the fact that they gave me a lower than average CTR and so I stopped them earlier.
Usually I keep a budget of $20-$30 to test a campaign. In the cases where the CTR is between 2-4%, I've often found that sales are not enough to pay for costs. I've launched over 500 Teespring campaigns on FaceBook and the data I've received from all that points to this.
So whenever I get a campaign that gives me a crap CTR after a $10 or so spend I usually get ready to stop it.
This image consists of some campaigns that have given me a better CTR, but still have given me, in most cases, 0 sales.
The maximum I spend on a campaign if it has given me 0 sales is around $30. A good CTR often leads me to believe that the campaign has a good chance of making sales but if it still gets me 0 sales, I'll still stop it at $30. Sometimes I'll get a sale or two which can indicate a somewhat profitable campaign but again after launching hundreds of campaigns, something that you've spent $30 on that gives you only one or two sales will be a painful campaign in the long run and you'll usually either break even, make a slight profit or a slight loss. Not worth the time in my opinion.
I'm mostly looking for campaigns that give me a good indication right off the bat. I've had a spend of $10 and made 2-10 sales before. These are the campaigns I'm looking for and I know straight away I have something worth my time.
2-4% CTR - usually a crap campaign, if no sale within $10, stop campaign
4-6% CTR - can be a good campaign, if no sale within $20, stop campaign
6-8% CTR - can be a really good campaign, if no sale within $30, stop campaign
ALWAYS have a stop loss budget, don't just keep spending money on it hoping for more sales. Even if you've made a sale or two but find you're getting no more sales, don't keep spending money in hopes that you'll make your goal. You'll end up, in most cases, making a bigger loss then if you were to just end it there.
It's easy to be attached to your campaign, but the people that do well here are the ones that build and test more and more campaigns. By the time you've worked with one, they've launched and learned from 5. This is the approach you need to take here.
Want to get Serious with Internet Marketing? Join us on Aff Playbook Below!