Long awaited FB ad thread that might be somewhat helpful:

1. I'm close to launching my brand, but I wanted to test some ads in advance so I can get a head start on Q4.

My favorite strategy is running ads without any targeting on FB.

2. So I decided to spend about $20 a day on some ads focused on all women of all ages based in the US optimized for purchases. Here are the results:

3. There are a few things that immediately jump out. First, the good news:

My conversion rate is 5% (7 purchases out of 140 clicks). This is promising and means my landing page is converting well with broad audiences.

4. Now for the bad news. My CPCs are through the roof, and my ads are unprofitable with a required CPA of $40. There are two reasons. CPMs are abnormally high this month, and my CTR is not that great.

5. I expect CPMs to normalize at some point in the future. I've never seen them this high before, so I can only assume I'm not the problem. What I can do to bring them down right now is to keep testing new creatives.

6. The solution for increasing CTR is the same: keep testing more creatives and push the boundaries a little to generate curiosity. This is why I mentioned that I have freelancers creating content and repurposing them as better ads.

7. The best news is that even with this unprofitable test, I am collecting data that will be useful down the road. I'm building up purchasers for lookalike audiences and even larger audiences for retargeting. I don't mind losing money here for now.

8. If I were a short-term minded dropshipper or affiliate marketer, I may have given up at this point on this offer after spending over $440. Maybe I would have tried other "Facebook tactics," but to me, this small test means I'm just a few moves away from unlocking this offer.

9. With the landing page working well, all it will take is a decent ad creative to turn this campaign profitable for Q4.

Overall, this was a small test and doesn't mean too much in the grand scheme of things.

10. But hopefully, it has given you a good example of how to quickly assess your data and figure out what needs to be done to become profitable.

As for me, it's back to the drawing board. I'll be back with improved ads soon enough, ready to scale for Q4

See ya on the feed, boys