Are five dollar Facebook advertising campaigns for rookies only? Absolutely not! Beginners and advanced advertisers alike can leverage the five dollar Facebook ad to increase ROI fast.
One of the most common questions I receive in my Facebook videos is "How much money do I need to get started advertising on Facebook?"
More advanced marketers are always asking "how do I scale my Facebook ad campaigns?"
When used correctly, the five dollar Facebook ad campaign can accomplish both goals!
For beginners or internet marketers with tight budgets, it is obvious... A five dollar per day ad campaign is going to get you exposure on the Facebook ad platform while minimizing the investment required.
Most people don"e;t realize that advanced advertisers are able to leverage these same five dollar Facebook ad campaigns to quickly and effectively test new audiences and interests while minimizing risk.
To go deeper into the "e;how to"e; I have put together a video where I setup a new Facebook retargeting advertising campaign and duplicate out the ad set in the exact way you would to make this $5/day FB advertising method a reality.
Watch that video here: https://www.youtube.com/watch?v=DluuQ952900
Then, once the ads are running, you need to be sure you are analyzing the Facebook ad data correctly. To help you with this, I have created 3 videos where we follow the campaign I set up above in the retargeting video and you see how I analyze and adjust the ad set budgets.
How To Analyze Facebook Ad Data Part 1: https://www.youtube.com/watch?v=mcAE1CX-09Q
How To Analyze Facebook Ad Data Part 2: https://www.youtube.com/watch?v=Fp5CMGO64dM
How To Analyze Facebook Ad Data Part 3: https://www.youtube.com/watch?v=hhsjV0zdDw4
This stuff really works as you can see from the above video series where I implemented this Facebook advertising strategy and document the process in the FB ads manager to show the results.
If you are wondering why this advertising strategy works, the best analogy I can come up with is that of roulette.
Player a walks up to the roulette table with 20 $5 chips and places them all on number 18.... The odds are stacked against this player and ultimately they lose their $100 quickly with nothing to show for it.
Player B walks up to a roulette table with 20 $5 chips as well...But takes a different approach.
On the first spin Player B places 20 $5 chips on 20 different numbers.... And hits one! This recoups Player B"e;s Initial investment allowing that player to continue playing, again spreading out the bets.
The best part about Facebook advertising compared to roulette is that once you find something that works, you can double your bet on that and continue to spread your additional bets out on new, untested interests and audiences.
Slowly but surely you are able to create a number of different productive ad sets through testing that you are able to increase your budget and continue running for weeks, months, years on end!
Is important to keep in mind what a statistically significant test is.
You must have enough clicks, leads, sales in your funnel in order to make decisions that are truly based on the data.
If you"e;re basing decisions on 25 clicks or the results from 10 subscribers… There is no statistical significance backing that decision.
If you"e;re basing your decisions on 1000 clicks and 400 subscribers, the data is going to support making a correct decision because of the law of large numbers.
Your conversion rates are going to fluctuate much more with smaller numbers than they will with larger numbers.
This is why it is important when running five dollar Facebook ads to allow these ads to run long enough to obtain the data that you need to make informed and intelligent decisions.
Patience is your friend and ultimately you will get more statistically significant data spending $50 over the course of 10 days then you will from spending $50 in one day.
I show how to setup your conversion based campaigns in this way in the "How To Run Retargeting Ads On Facebook" video, here: https://www.youtube.com/watch?v=DluuQ952900
In this video I mentioned two other videos That can help you advance your Facebook advertising game quickly!
First is the "know your numbers" video where you learn how to figure out your key performance indicators or KPIs.