When I was heavily involved with Teespring, I’d spend a minimum $30 before deciding whether a campaign was worth continuing or not.
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After launching over 2,000 campaigns, I’ve come to realise that there are much smarter ways to launch and learn.
Ways that will save you a lot of money.
Firstly, I want to start by setting out the right frame of mind you guys should be reading this with.
- You WILL eventually have to be comfortable with losing money with FaceBook Ads. You can’t expect to always make the right decisions and make a profit straight away. The quicker you accept this, the quicker you’ll start learning. A smart marketer fails a lot as he realises that these fails translate to knowledge which translates to money.
- Don’t get attached to your design/product. You might be having sleepless nights on how this certain product is going to make you millions but the reality is decided by FaceBook. If FaceBook data tells you it’s a crap product, ditch the idea and start a new one. DON’T get attached!
- When translating FB data after spending $x amount of money, there are only a few metrics of significance. your CPE, (How much your paying per post engagement), and your ‘Cost per link click’, (how much you’re paying to get a visitor to your website by clicking on the link you post in your description). The lower these costs, the better. You can enable the cost per unique link clicks column by selecting it from the ‘customise column’ section.
Keeping these in mind, set up your campaign as normal.
I set up my ad using,
- 600 x 600 square ad image
- Desktop and mobile newsfeed ads only
- auto bidding
- $5/day budget
No after $5 spend, we look at stats.
Here’s the golden rule,
If your ‘cost per unique link click’ is more than $1.00, end the campaign.
ALL my successful campaign have had link clicks under 60 cents. See below,
Ideally they’re at 20-30 cents. These are the campaigns I keep running because they usually give me profitability.
Below re campaigns that have given me barely any unique clicks to my website. I’ve stopped them early, (see amount spent).
There’s no way you’re going to turn a profitable campaign paying $7.00 per click! Unless your profit margin is $500 or something.
Considering on page conversion rates are about 3-8% on average, you will need 30 people to your site before you make a sale. If one sale gets you $5 profit, that means you need to be paying less than 20 cents per person to your website! That’s just to break even. If you’re not getting anywhere near that why continue with the campaign?
Spend $5, if link clicks are more than $1, end campaign. Easy?
I used to think that FB will optimise and start charging me less and yes, that’s true but it can only go so low. $2 link clicks aren’t miraculously going to drop down to 20 cents.
My profitable campaigns have given me great stats straight off the bat. After $5, I’ll be getting 30 cent link clicks and a tonne of engagement.
With Teespring and Drop Shipping you want to be working with clear winners. Campaigns that give you break even/slightly negative days are just a pain to work with.
Anyway, that’s the tip. It’s simple but it’ll save you a lot of money.
Spend $500, test 100 campaigns, you should be able to find a winner 🙂
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