100kfactoryultra-module07 - scaling your business€¦ · after you implement your first scaling...

Module7ScalingYourBusiness

ModuleAgenda• The formula for scaling your budget:

ØStep 1: Find the winning ad from your testingØStep 2: Scale the budget using the 1.5x formulaØStep 3: Find the winning demographicsØStep 4: Test desktop and right side ads

• The Facebook tracking pixel• Custom and Lookalike audiences

QuickRecap• Wefound20productstotest• Builtageneral/testwebsiteandtestedthe20products• Found1winnerin1niche• Createdanichestorewebsiteandpopulateditwiththat

1winner• Found10newproductswithinthisnicheandtested

them• Found2-3morewinnerswithinthese10toputonyour

newnichestorewebsite• WeareNOWgoingtosendrealliveproductiontrafficto

ONEoftheproductsonyournewnichestorewebsite

SendingtheREALTrafficandMakingtheREALSales!

Pickingtheproducttostartwith

• Mostsalesduringtesting• Highestrevenue• Highestpotentialprofit• Nowronganswerhere!

SendingTrafficandScalingWewilldothisforONEproduct(fornow):• Step1 – findthewinningadfromyourtesting(ifyouwereusingmorethanone)fortheproductyou’veselected

• Step2 – Scalethebudgetupusingthewinningadandthesameaudiencetargetingyouusedfortestinguntilrevenuefroma4dayperiodis<1.5theadspend

• Step3 – Findthewinningdemographics• Step4 – Testdesktopandrightsideadsasnewads

Step1- SendingTrafficandScaling

• Findthewinningad

Step2– SendingTrafficandScaling

• Increasethebudget1.5x,roundingup– so,$1to$2,$2to$3,$3to$5,$5- $8,etc

• Runthisbudgetfor4fulldays• Iftheadspendforthe4dayperiod*1.5ismore thantherevenuemadeforthe4dayperiod,STOPandgobacktothepreviousbudgetandletitrun

• OTHERWISE– Repeattheprocess,scalingup

Step3- SendingTrafficandScaling

• FocusonAgeandGenderrightnow– inthefuturewewillexpandtootherdemographics

• Determinethisafteryou’redonescalingoryou’veincreasedyourbudget4ormoretimes(andarestillgoing!)

• Wearegoingtousethesedemographicsforfuturetargetingandoptimization!

• StartwithFBAdManager

Step3– SendingTrafficandScaling

Step3– SendingTrafficandScaling

Step4– SendingTrafficandScaling

• Setupanewcampaignfordesktopandrightsideads

• Runsameadandsameaudiencebutonlyfortheseadtypes

• Usethe“1000impressionsor3days”ruletotestthesenewads

• Ifsuccess– ScalelikewedidinStep2• OTHERWISE– donothingandstopthead

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Step4– SendingTrafficandScaling

Recap:“1000Impressionsor3Days”

GothroughthisprocessforallNEWADS

AfterYouImplementYourFirstScaling• Startsendingtraffic,scalingetc.tootherproductsonyournichesiteØ Step1 findthewinningadØ Step2 Scalethebudgetusingthe1.5xand4dayrulesØ Step3 TesttherightsideanddesktopadsØ Step4 Identifyanddocumentthewinninggenderandagedemographics

• Identify3newaudiencetargetsandadsetsforeachoftheproductsonyournichesite

• Useonesetofnewtargets/adstosendNEWtraffictypestoONEproductonyournichesiteØUsingthewinningdemographics(ageandgender)fromyourinitialtraffic

AudienceExpansionMindsetRecapfromthelastmodule…THREEmainaudiencetypes:• TheBuyers• TheCommunities• TheAuthorities

SendingtraffictooneproductusingnewaudiencesandAds

Foreachnewaudience:• Usethewinningdemographicsalongwiththeaudience

• Startwiththe“1000impression”ruleflowchart• THEN,ifoptimizationisinorder…• Followthe1.5x/4dayrulewiththewinningAd• OTHERWISE,abandonthataudience

CustomizetheFacebookAdsReport

• Justwanttomakesurewe’relookingattherightmetrics

• EveryoneshouldbetrackingatLEASTwhatwe’reshowinghere

• StartbygoingtoyourFBadmanager

CustomizetheFacebookAdsReport

CustomizetheFacebookAdsReport

CustomizetheFacebookAdsReport

ThePixel!

WhatIsAPixel?

TheFacebookPixel

WhyWeUseIt?

• CreatecustomaudiencesofpeoplethatØVisitoursiteØPutstuffintoacartonoursiteØBuystuffonoursite

• UsethatcustomaudiencetoØRetargetØBuildlook-a-likeaudiences– HUGELYpowerful

• We’vebeencollectingthisdata– thisiswhywehadyousetthepixelupbackinModule4

CustomAudienceCreation– Step1

Wewillcreategroupsofpeoplefromthese3segments.ThesesegmentsarecalledCustomAudiences.

Look-a-LikeAudienceCreation– Step2Next,wewillhaveFacebookcreatealargepoolofpeoplewhohavesimilarbuyinghabitsasourCustomAudiences.ThisiscalledLook-A-LikeAudiences.

CreatingCustomAudiencesFirstlogintoyouradmanagerandclickaudiences.

CreatingCustomAudiences

NextClickonCreateAudienceandselect“CustomAudience”

CreatingCustomAudiencesSelectWebsiteTraffic

Creating CustomAudiencesCreateoneforallthetrafficthatcometothesite.Setitupjustlikethis.(useyourownurl)

CreatingCustomAudiencesCreateanotherone.Usethe“and”buttonandadd“cart”tothekeywords.

CreatingCustomAudiencesCreateathirdone.Usethe“and”buttonandadd“order-received”tothekeywords.

CreatingCustomAudiences

Wenowhaveour3customaudiences.

CreatingLookalikeAudiences

Firstlogintoyouradmanagerandclickaudiences.

CreatingLookalikeAudiences

Clickon“CreateAudience”andselect“LookalikeAudience”.

CreatingLookalikeAudiencesFirstlogintoyouradmanagerandclickaudiences.

CreatingLookalikeAudiencesWenowhavefourLookalikeAudiences.Makemorefortheothercustomaudienceswecreated,sothatyouhave12(3customaudiencesx4).

UsingLookalikeAudiencesNowthatwehaveourLookalikeAudiences,wecanusethemwhencreatingadsinsteadoftargetinginterestsandbehaviors.

Don’tGetConfused!• Customaudience

Ø Somethingyou’lldoONCEforthewholewebsiteØ Facebookcontinuestogrowthisaudiencewithoutintervention

• LookalikeaudienceØBuiltFROMthecustomaudienceØRequiresaminimumofmembersinthecustomaudiencetogetthebestresults(statisticalsignificance)

ØOnlyneedstobedoneONCEforeachcustomaudienceØWillactuallyproduce4lookalikeaudienceseachtimeyoudoit

TheProcess

• Createthecustomaudiencesrightaway• Createthe3lookalikeaudiences(thatwillcreate4segmentseach)asfastasyoucan

ThePowerofLookalikeAudiences–Someofourrecentresults

OurBestResults(6DayTotal)

Costis$8/unit- 75*$8=$600=CostOfGoodsSold

$600+$473.84=$1,073.84 - TotalCost

$2,255.5- $1,073.84=$1,181.66 - or$196.94/daywith1Ad! - NetPROFIT!

OurBestResults(14DayTotal)

Costis$8/unit- 179*$8=$1,432.00=CostOfGoodsSold

$1,432+$1613.19=$3,045.19 - TotalCost

$5,239.62- $3,045.19=$2,194.43 - or$156.75/daywith1Ad! - NETPROFIT!

ActionItems

• ScaleupyouradsforONEinitialproduct• Onceyouaremorefamiliarwiththeprocess,scaleupadsforyourotherproducts

• Create3customaudiencesand4lookalikeaudiencespercustomaudience

• Expandyouradsusingtheselookalikeaudiences