Planning a
Facebook Ads
campaign
Learn Facebook Ads in five steps
Step two - campaign planning
Structuring Facebook ad accounts:
Campaigns, ad sets and ads are the three key components of a standard Facebook ad campaign. From the start, it’s important to remember one key concept: Facebook rewards simplicity. There’s no need to have multiple campaigns, with dozens of ad sets containing many individual ads. Don’t look for complexity and try to make sophisticated ad accounts, keep things simple.
At the campaign level, you decide the purpose of your advertising (e.g. purchases from your website, lead form sign ups etc). A campaign will hold multiple ad sets with each ad set featuring a different audience (i.e. targeting options). Within each ad set are the individual ads you will run to promote your brand.
Note: at this stage, we are simply planning out campaigns, ad sets and ads. The actual step-by-step creation process is covered within the ‘running a Facebook Ads campaign’ section.
Facebook Ad accounts (and digital marketing activities in general) are structured based on the customers, products and nature of each advertiser’s business. There is no one size fits all or right/wrong approach.
Some businesses will promote cheaper items (such as a $15 shirt) and will have a different communication strategy to others who promote more expensive products (with retargeting).
An account with a $500 a month budget will be structured differently to an account based on $20,000 a month in spend.
Businesses selling cheaper goods may not require a multi-stage sales funnel with retargeting options. These businesses can focus on having fewer campaigns which promote the sale of their items directly (for example, promoting the key selling features/benefits in the ad and directing users straight to the checkout page on the website).
For these types of businesses, there is no need to introduce the brand and provide in-depth information as to the quality and features of the product. A multi-stage funnel will become too expensive (i.e. costing the business money for each click/interaction) when selling lower cost items.
Once the structure of your Facebook advertising efforts has been decided you can move on to creating campaigns, ad sets and ads.
Choosing a campaign objective
When planning a Facebook ads campaign, you first need to decide what you are trying to achieve with your ads and which campaign objective to choose. Facebook’s advertising algorithm and Artificial Intelligence (AI) mean ad campaigns and audience targeting are optimised based on the campaign objective chosen.
Whilst Facebook’s pre-defined campaign objectives may seem to follow the customer journey, you want to choose the conversion objective ninety percent of the time.
When you select the campaign objective, you are deciding on the ultimate action you want people to take. The goal of Facebook’s AI system is to locate users who will take the action the advertiser is trying to achieve.
Choosing an objective higher up the sales funnel will simply result in actions which may provide no commercial value to your brand.
For example, if you select a traffic campaign to send people to your website, Facebook will show ads to people who have a demonstrated history of clicking on these types of ads and visiting external websites. These users, however, may have no history of, or interest in, purchasing online. Whilst brand awareness and traffic is nice to have, a business needs customers and sales to survive.
A common mistake made by many people is to choose the wrong campaign objective when creating campaigns. Common sense would suggest the objective you select is relevant to what your ad is promoting and the buying stage your customers are in. However, once you understand how Facebook’s AI and targeting system works, it becomes clearer why the conversion objective is the most suitable.
Choosing the correct campaign objective:
The conversion objective allows you to choose from a long list of predefined standard events (such as viewing certain web pages on your site, signing up to an email list, purchasing, lead sign up etc) or you can create your own custom events which you consider most valuable.
Standard conversions events can include:
- Lead (i.e. someone to contact)
- Purchase
- View Content (i.e. view a webpage)
- Add payment info
- Add to cart
- Add to wishlist
- Complete registration
- Contact
- Customise product
- Donate
- Find location
- Initiate checkout
- Website search
- Start trial
- Submit application (i.e. for a credit card)
- Subscribe
By selecting ‘conversions’ as your campaign objective, you are telling Facebook to find users who have historically taken this specific action online. The conversion event you select will be the ultimate action you want users to take on your website.
If the ‘add to cart’ conversion event is selected, Facebook will find people who frequently add items to cart – but this doesn’t necessarily mean they are likely to checkout/purchase. The ‘purchase’ event will find people who have a demonstrated history of purchasing/paying online.
Tip
You want to show your ads to people who are most likely to carry out an action on your website which is most beneficial for your business (e.g. purchasing a product). If people contacting you to become a lead is more suitable for your business type, then select the ‘lead’ conversion event.
Even when you’re first showing ads to people (i.e. they haven’t engaged with your brand), you want to choose the conversion objective. It may be unlikely these users will purchase or convert straight from the first ad, but you are targeting people who have a history of converting online.
Once you start showing more sales-focused ads (with the aim of gaining conversions) to this audience, they should perform well as they have a demonstrated history of converting online.
Video
Whilst larger and colder audiences should be targeted through ‘conversion’ objectives, smaller/warmer/hotter audiences may be targeted through impressions/traffic/reach objectives.
Hot audiences are already aware of your brand and have shown a strong interest so the goal is just to get ads in front of as many warm and hot visitors as possible. ‘Reach’ objectives can be used with the ‘frequency capping’ option which ensures people will only see your ad a certain number of times or once a week (i.e. so they don’t become annoyed/fatigued seeing the same ad over and over).
Custom event conversions
Standard conversion tracking events (such as viewing a webpage or completing a transaction) will consider every relevant action to be a conversion. Custom conversion events allow you to add more details and qualifiers to the conversion activity.
For example, a standard conversion could be ‘add to cart’ but a custom conversion could only be purchases on products which cost more than $65. Other examples include someone staying on your website for a certain amount of time or how far they scroll down a page.
Custom conversions help narrow down an audience to select only those who are most interested in the brand. Many people may have visited the website, but there could be two segments in that audience – those who only stayed for 30 seconds and those who stayed for three minutes.
The longer duration audience is most likely of greater value (i.e. likely to become a customer) than the shorter duration group. You can target this higher value audience by adding a custom event qualifier (time spent on page) to the standard conversion event (view content).
Video
Planning ad sets and audiences:
Once you have decided on the purpose for your Facebook advertising and selected a suitable campaign objective, you can move on to planning ad sets and audiences.
Facebook campaigns work better for larger audiences as the platform has more people to seek out who match the ideal characteristics (and conversion behaviour) of those you wish to target.
Smaller audiences and highly refined targeting will require you to outbid all other advertisers to reach those particular people. A larger group will also allow Facebook to find people who are cheaper to advertise to.
One popular approach to audience targeting is to use a completely broad audience such as aged 18 – 65, living country wide with no interests or further details selected. This will provide the largest possible audience for Facebook’s AI to search through to find people suitable for the selected conversion objective.
Facebook will handle the audience targeting completely on its own. It may show an ad to those aged 30 to 35 and then again to 40 to 45 and find the younger age group were much more responsive. Facebook will then seek out other users with similar characteristics to see if they also respond favorably.
Tip
When selecting audience interests, you want to focus on one interest/audience type per ad set. If you combine multiple interests into one ad set, measurement becomes difficult as you are unsure which interest type provided the best results.
If you find high quality audiences (based on past performance data) but they are too small, you may be able to combine two or three to build a larger audience (taking into consideration the issues mentioned earlier – mixed data). This is known as a stacked audience.
There are three types of audiences you can target on Facebook:
- Core (with targeting options such as interests, locations and demographics)
- Custom (customer lists, website visitors, Facebook engagement)
- Lookalike (people who match characteristics similar to existing users – e.g., website visitors)
Core audiences are based around interests such as hobbies, sports, TV shows, favourite brands etc. You can target people in specific countries, states or cities and choose their age, gender, education level, job title and more.
Core audiences are generally considered to be the ‘weakest’ of the three as it is a completely cold audience (i.e. have never heard of, or demonstrated an interest, in your brand). Some Facebook Ad specialists will skip this audience type all together and use custom and lookalike audiences only.
You can use Google Analytics website data to narrow down targeting options when it comes to demographic data (such as age, gender, location etc) and general interest categories.
A full list of audience targeting options can be found here:
Resource
Custom audiences are based on data from customers who have interacted with your brand in some capacity. You can upload a list of email subscribers to target those users who are on Facebook or you can target people who have previously visited your website (even specific pages, such as individual product pages).
You can also target users based on Facebook engagement such as those who have engaged with posts, watched videos, liked your page etc. This is considered to be the strongest and most responsive audience to ads as they have already demonstrated an interest in the content on your website or the products of your business.
When building warm custom audiences (i.e. from an email list or website visitors), the larger the audience size the better.
When creating this audience type, the further back in time (e.g. visited your website 180 days ago), the larger the audience will be. However, older visitors may not be as responsive/warm as newer visitors (i.e. a newer audience will be smaller but warmer as they remember your site and may still be in research/buying mode).
Retargeting options for a custom audience include:
- People who have been to your website or viewed a specific page
- People who have spent a certain amount of time on the website
- People who have engaged with Social posts (e.g. watched a video, commented etc)
- Customer file (email list, sales records etc)
Video
Lookalike audiences are created through Facebook’s AI system and allows the platform to create an audience of people who most closely resembles existing users from a seed audience. Facebook will find users who match the demographics, interests, behaviours etc of your seed audience.
Lookalike audiences can be based off a range of sources – ranging from most to least effective:
- Lookalike audience from previous customers (e.g. completed check out page on the website)
- Lookalike audience from email list
- Lookalike audience from website traffic
- Lookalike audience from engagements (e.g. video views)
Once you select a source (e.g. a list of previous customers), Facebook will find users who most closely match the characteristics of those original individuals. This will result in a lookalike audience of users who have a higher chance of converting (or completing a conversion action) than a completely cold audience.
When uploading customer details from sales records, you can include their lifetime value (LTV – how much they have spent in total whilst they have been a customer). Facebook will use these most valuable customers to match other Facebook users who demonstrate the same characteristics (e.g. age, locations, interests).
Creating a lookalike audience from users who have watched a video or engaged with a post on Facebook can seemingly help build a potentially high-performing audience. The major issue may be these users have engaged with the brand, but not actually purchased anything. With this new lookalike audience, you may simply be reaching out to low quality traffic who have an interest in watching your videos but no interest in purchasing.
When creating a lookalike audience from a source – the larger the source, the better.
Lookalikes are still considered a cold audience, but they possess certain features which give them a higher chance of being valuable to your brand.
You can choose from a 1% to 10% targeting option meaning a 1% selection will target 1% of people in your country who most closely match the characteristics of the seed audience. A 5% audience will provide a larger audience size but their resemblance to the seed audience will be less than the 1% audience (i.e. fewer people will have exactly the same characteristics).
Once you have created your most valuable lookalike audiences, you can stack them (i.e. combine them) and create a Super Lookalike audience. For example, you will have a lookalike of past purchasers, email list signups and lookalikes of Instagram and Facebook engagers in one ad set (which results in a larger more cost-effective audience but can lead to mixed data and measurement issues).
Video
Ad placements:
Placements refers to the locations where Facebook will show your ads (these placements are set at the ad set level when deciding audience selection). Ad formats will need to be tailored to ensure they display correctly across selected placements. For example, videos may only be a certain length when advertising across Stories.
- Feeds (Facebook News feed, Instagram feed, Marketplace, video feeds, right hand column, Instagram explore, Messenger inbox)
- Stories (Facebook, Instagram and Messenger)
- In-Stream (Facebook and IGTV videos)
- Search (appears in search results)
- Messages (ads can appear to people who have previously messaged your page)
- In-Article (within Instant articles)
- External Apps (shown on the Facebook Audience network – a large group of websites/apps which also show Facebook ads)
Whilst there are many placement options, some are more effective than others. Generally, the main Facebook and Instagram feeds are the most effective whilst the Facebook Audience Network can provide very few results (similar to the Google Display Network).
You want to test various placements to find what works best for your particular brand and customers. When running ads, navigate to the ‘Performance and Clicks’ dropdown menu in ads manager, and then use ‘Placements’ in the ‘Breakdown’ menu to see if there are any Placements which are performing above or below the average.
Selecting ‘automatic placements’ when setting up ads is a popular, and effective, choice which allows Facebook to decide where best to show ads (using data to find and optimise best performing locations).
The Facebook Pixel:
The Facebook pixel (which helps track user interactions on your website) is used to create custom and lookalike audiences as it gathers data on website visitors. The longer the pixel is on your website, the more data it can collect and the more refined it can become in its targeting ability.
The more conversion data a pixel receives (e.g. people from Facebook signing up to a mailing list or filling in a form), the more competent it will become in understanding which Facebook users are most likely to make a conversion.
Providing as much conversion data as possible (ideally 20 – 30 initial conversions) is known as ‘seasoning the pixel’ and aims to ‘train’ the pixel to become much better at targeting.
Some people will recommend choosing a traffic objective campaign to attract a large amount of traffic to a website in order to quickly provide data for a pixel. This is an ineffective approach as this may result in low quality traffic which will provide no useful data or insights for the pixel to learn from (i.e. the traffic arrives then quickly leaves without any valuable action).
A pixel which has recently been installed on a website has no data to act upon, so it is unsure of who to target on Facebook to achieve the best results. A highly trained pixel can lead to more effective ads, greater conversions and lower costs.
Tip
Even if you don’t plan on running Facebook Ads for a while, install the Facebook pixel so it has time to gather as much website data as possible.
Current issues with Facebook tracking and retargeting
Custom audiences are generally the focus of retargeting campaigns. Showing ads to people who have already demonstrated an interest in your brand can be far more effective at achieving conversions than a colder audience.
The release of Apple’s iOS14 update has impacted upon the way Facebook can track user activity on external websites.
After the update, iPhone users are presented with a message asking if they would like to opt in or out of online tracking. If they opt out, it can be very difficult to target these users in retargeting campaigns as Facebook is unsure if they have been to the website or converted in some one (e.g. purchasing, filling in a form etc).
The update has heavily impacted on the quality, reliability and usefulness of retargeting audiences (e.g. website visitors from a custom audience or a lookalike audience from existing website visitors).
Facebook’s targeting system works best with large audiences. Many iPhone users are no longer able to be added to these audience groups, so the overall audience size shrinks significantly.
Whilst the update has significantly impacted on some brands and industries, others have found no real change to their ad performance. If you find you are receiving, say, 30 conversions from Facebook but platform reporting only shows five conversions, this can indicate your brand may have been impacted by the update.
Custom audiences, and retargeting, can still be effective but the approach to using them has changed. Instead of targeting users who have interacted outside of Facebook (i.e. on the website), you may now also focus on those who have interaction with your brand without leaving Facebook.
These interactions can range from page engagements (e.g. liking, commenting, sharing etc), video viewers or those who have interacted within discussion groups. You can also use internal data (such as email lists) to build lookalike audiences or custom retargeting audiences. These audiences will still perform strongly as you are providing data directly, rather than relying on Facebook to use website data.
The same targeting criteria still applies – you want to target people who have shown the most amount of interest in your brand. Targeting users who have watched 75% of a video will be more effective than targeting all video watchers (including many who may have only watched 10%).
Creating ads
After setting a campaign objective and deciding on audience targeting for ad sets, you can move on to creating individual ads.
If you are planning on creating ads across multiple campaigns (e.g. brand introduction for a cold audience and sales-focused for a warm audience), keep in mind the limitation discussed above (i.e. iOS 14 update). If you are planning to rely heavily on retargeting, try to create ads which keep users on Facebook (i.e. video ads) rather than sending them to an external site (which can be difficult to track).
Facebook Ads are available in a range of format types: single image or video, carousel, slideshow and collection. Using a mixture of formats within each ad set is best as different people respond differently to certain formats (e.g. the way people learn differently – some like videos, others prefer writing notes or looking at visuals etc). Ad sets should, ideally, be composed of the above formats rather than just a single image or video.
Other aspects to building an effective ad include enticing primary text, description, headline and a call-to-action button.
Learning from competitor ads can provide inspiration and direction for creating your own ad concepts. To view ads and creatives running from similar brands and websites, you can use the Facebook Ads library:
Resource
By viewing the oldest ads from competing brands, you are able to see which ads have been running the longest (indicating they have been successful enough in terms of results to not be paused). You can keep an ‘inspiration’ folder of effective ads from competitors and other brands which can provide a basis for improving your own ads.
AdSpy provides a way of searching for ads in a more general way (e.g. within the broad financial services segment) rather than searching for specific advertisers.
Resource
If you decide to run your ads across multiple placements, each creative piece will need to be tailored to the requirements of each platform (otherwise they won’t display correctly and may cut off details, appear stretched etc).
Resource
When developing creative assets, you can use the following resources:
- Canva (design tool)
- InVideo
- Offeo (video/images)
- Clipscribe (subtitles on videos)
- Soundstripe (music)
- Glorify (images/background cutout)
- Facebook stock images
- Shutterstock and iStock (premium stock images)
- Adobe Creative Cloud etc.
You can also hire professional design services through AirTasker or Fiverr if you would prefer to outsource the design process.
Canva has a range of templates available for Facebook ads, social posts, presentations, posters etc. There are over 700 templates (both free and paid) for creating Facebook ad creatives and over 17,000 templates for Facebook posts (which can also be used as an ad creative).
Video
Rather than creating your own ad ideas from scratch, you can review ad examples from other brands which can provide insights into how they achieved strong results (i.e. was it the image or video, the tone of the copy, the ad format etc).
Resource
Using content to create ads:
A useful technique for introducing a brand to users, is to use content marketing as the first touchpoint, rather than a direct ad. This content could be a blog post, an infographic or any kind of information which provides value and helps a user. If a user clicks on the ad and spends a certain amount of time on the site or visits a deeper page, this can be an indication they have a genuine interest in the products or the brand.
By choosing a valuable content article to promote, you are able to cast a wide net (i.e. more people will be interested in a helpful article rather than a direct ad) whilst still remaining targeted (i.e. only those interested in the topic of the content/brand would click).
User Generated Content (UGC) can also be a very effective first touchpoint for reaching users. This type of content could be testimonials, product testing/opening, talking about the product etc. Using a video format can help the ad appear more native within the news feed.
Mobile First video content should be a key part of creative planning/strategy as this is the most commonly viewed content piece. Facebook is moving towards becoming more video focused so will automatically push video ads more than still image ads. Mobile First requirements for content include:
- 5 to 15 seconds long
- Formatted for mobile (9:16, 4:5, square) with sound off (e.g. headings and subtitles)
- Quick edits/attention grabbing to stop people scrolling
- Logo and key message in the first 5 seconds
After creating brand-introduction ads, you can move on to creating more sales-focused ads (if this approach is suitable for your type of business). These ads will be shown to users who have already demonstrated an interest in your brand/products (i.e. by visiting your website, watching a video etc).
Video
Allocating budgets:
Now you have considered campaign objectives, audiences for ad sets and thought about ad formats. You can now decide how best to allocate budgets across campaigns or ad sets.
When running a Facebook ads campaign you may decide to avoid having a set budget. If ads are performing well and providing conversions, add more money or keep the ads running – a fixed budget will just end the ads even if they perform well.
When deciding how much you should spend on Facebook ads, there are many online calculators and spreadsheet resources available for calculating costs. Budgets and costs will vary based on whether you’re trying to sell a product, gather leads, increase signups etc.
AdEspresso have put together a Facebook Ad Budget Calculator which can help you determine your overall budget.
Resource
HubSpot also has an excellent calculator for determining budgets for overall online ads (not just Facebook).
Resource
When allocating budgets, follow a similar approach to how you structure campaigns to reach users across their customer journey (e.g. awareness and consideration-based ads). Budgets can be allocated across campaigns or ad sets and are tied to audience sizes and their value to your business (i.e. how likely they are to purchase or make a conversion).
Tip
Audience value is tied directly to the customer journey – the closer they are to purchasing, the more value they have.
There are three levels of strength when assessing audiences:
- Cold (have never heard of your brand – these include interest/location/demographic targeted audiences)
- Warm (have visited your website and will include users who are a part of custom audiences such as mailing list signups, Facebook page engagers etc)
- Hot (have visited specific product pages for a certain amount of time)
Generally speaking, the smaller the audience, the smaller your budgets should be. Warm and hot audiences will be much smaller than general cold audiences and, if a large budget is used, members of these groups will constantly see the same ads over and over (due to Facebook attempting to spend the entire budget on only a small group).
This will result in ad fatigue where people become ‘blind‘ to the ads due to repetition. If they show no interest in the ads (i.e. clicking and engaging) the first couple of times, repeatedly showing them the same ads will not achieve any further results.
Negative feedback from users (i.e. hiding or reporting ads) can result from ad fatigue and will negatively impact your ad account. Future campaigns and ads can face higher costs and poorer results if Facebook believes you are running ads which are not welcomed by, or relevant to, the community (i.e. Facebook will place limitations on how often your ads are shown, no matter the budget used).
This is a similar approach Google takes – focusing on the user experience ads provide firstly rather than on the actual ads themselves.
You can see how many times people are seeing your ads by viewing the ‘frequency’ column in Ads Manager. A best practice when running Facebook Ads is to continually refresh your creative assets (i.e. new images, videos and text) to ensure people don’t become fatigued.
ABO vs. CBO
When deciding how to allocate funds across campaigns and ad sets, you can retain manual control or have Facebook decide on the best allocation.
Manual control is known as ABO (Ad Set Budget Optimisation) and budgets are set at the ad set level. Facebook’s AI control is known as CBO (Campaign Budget Allocation) and budgets are set at the overall campaign level (encompassing all ad sets). If using CBO, once a campaign is up and running, Facebook will allocate more money to better performing ad sets and withhold money from poor performing sets.
Imagine you have $100 to spend on your Facebook ads campaign.
With Ad Set Budget Optimisation (ABO) you can manually allocate $33 (or whichever amount you prefer) to three ad sets and manage each ad set’s budget individually (i.e. increase or decrease the allocated amounts as you please).
Within each ad set, you may have three ads running and Facebook will determine which ad(s) are performing the best (receiving link clicks, achieving conversions etc). Facebook’s AI system will allocate more budget (using the original $33 amount) to the ads which are performing well whilst avoiding spending funds on underperforming ads.
This approach means your well performing ads receive more money (to reach additional users and achieve more conversions). It also means you don’t waste money on ads which provide few results. This is why it’s important to have multiple ads within each ad set – so Facebook can find the winning ads whilst avoiding poor performers. If you run only one ad, Facebook will spend your budget no matter the performance.
CBO requires you to put your $100 budget at the campaign level, leaving Facebook to decide where to most effectively allocate the budget across ad sets within the campaign. Facebook will not automatically distribute your ad spend evenly across ad sets.
Similar to ABO, once ads are running, Facebook will find the best performers and allocate more money to further improve their results. However, instead of allocating more money to individual ads, budgets will be allocated to better performing individual ad sets (i.e. audiences which respond the best).
If your campaign has three ad sets with two large audiences and one small audience, CBO will likely spend money only on the large audience as this may have a higher chance of conversions (e.g. more people to target).
There can be one large issue with CBO – finding the quality behind the numbers.
Facebook may find one large audience which provides a greater number of conversions than smaller audiences (and will hence allocate more budget to that audience) but higher quality leads may come from the smaller audience.
When you first start a campaign and are testing new audiences, the focus should be on using ABO to assess the quality and results from each audience. Once you have a good understanding of the quality and characteristics of each audience, you can move these ad sets into their own campaign and start using CBO.
Campaign bidding types:
When running ads on Facebook, you enter an auction with other advertisers to compete for the opportunity to show your ads to targeted audiences. Just like a property auction, you provide a bid as an indicator of how much you are willing to pay to show your ads. If your bid is too low, your ads won’t show but if you bid too high you may be spending unnecessary money.
The main, and often preferred, bidding type is ‘lowest cost’. This approach focuses on targeting people who are most likely to convert at the lowest cost. Other bid types include: bid cap, cost cap and target cost and minimum ROAS.
Other bidding approaches are used if you know how much you are able to spend per conversion to still meet a certain profitability figure. For example, your product costs $10 to produce and sells for $20 then a $4 conversion cost will result in $6 profit.
- Cost cap: the actual amount you’re willing to spend for a conversion. Facebook will reach all the way up to the cost cap amount.
- Bid cap: how much you’re willing to bid for a sale/conversion – the actual cost may not be that high but a higher bid puts you in front of other advertisers.
- Target cost: has variability in how much a conversion will cost – e.g. within a 10% range of $25, will not drop lower or higher.
- Minimum ROAS (Return On Ad Spend): this determines your ideal rate of return on your advertising expenditure. ROAS needs to be at least 100% to break even. 60% ROAS means for every $100 spent, $60 is achieved in sales. While there’s no right answer, a common ROAS benchmark is a 4:1 ratio — $4 revenue to $1 in ad spend.
Whilst the lowest cost bid type is the most popular, issues can occur if you are within a highly competitive industry with many similar brands who run Facebook advertising.
There are only a certain number of ‘cheap’ people to reach within audiences and your budget may run out if most people in a smaller audience are too expensive to target (i.e. a highly competitive industry with many companies bidding for the same people).
Advertisers in the insurance industry, for example, will set very high bids as customers can be potentially worth thousands of dollars to the business. Using lowest cost, you have no control over how much a conversion will cost (on a good, or uncompetitive, day you may have a lot of ‘cheap’ conversions but a bad/competitive day will have more expensive conversions).
You can use the lowest cost strategy when first starting out as Facebook will highlight the results you can possibly achieve at certain cost points.
Video
This concludes step two of learning Facebook Ads (planning a campaign). In step three (running a campaign), we’ll cover how to use Facebook Business Manager and Ads Manager to create and launch live campaigns.
Learn digital marketing in five steps
