Hey Unbox! That's a big question with a lot of factors to consider, including: - Profit margins - Lifetime Customer Value - Average Order Value - Click Through Rate (CTR) - Campaign objectives - Timelines - Industry - Seasonality of Industry - Number of Ad Groups - Quality of tracking Because of these unknowns, I'm reluctant to give an exact figure for you. But as a very simplistic starting point, I would suggest a minimum of $300/per month, per campaign. This would at the very least give you roughly $10/per day to test your campaign. This would be a very small testing budget, but you could start testing the waters with this. Many one-man businesses and even many small to medium business tend work with these. More than happy to speak in more detail on these questions by email if you would like to connect.
Hey AlienMatrix! Great question and one that a lot of users forget to ask. A good sample is -- and I appreciate this is an awkward answer -- entirely dependant on your audience. For example, I actively work in the Financial Services space, often targeting net-worth individuals in the UK. My total addressable market is only 36k, which is a relatively small pool of users and therefore my sample size would be much smaller than, say, an e-commerce brand selling shoes. Rather than looking at sample size to measure whether ROAS is accurate, I would instead looking at the duration of your test and your daily spend. I would suggest that a strong ROAS indicator would start to develop over a 72 hour period, ideally for a full week, to align with Facebook's testing phase. Happy to deep dive with you if you have an individual use case to discuss.
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Hi love your channel don’t stop to to post I really love how to teach about ads ! I follow you From France . Keep going we neeed your voice 💯
That was a really good insight into how Facebook ads work, nice one Doug.
Glad you enjoyed it! Thanks, Wayne.
Thanks a lot. Simple and to the point. You're amazing, man.
Glad to hear it, Supreme! Thanks for the feedback
Hey great video ! how much budget would u recommend spending on a new campaign.
Hey Unbox!
That's a big question with a lot of factors to consider, including:
- Profit margins
- Lifetime Customer Value
- Average Order Value
- Click Through Rate (CTR)
- Campaign objectives
- Timelines
- Industry
- Seasonality of Industry
- Number of Ad Groups
- Quality of tracking
Because of these unknowns, I'm reluctant to give an exact figure for you. But as a very simplistic starting point, I would suggest a minimum of $300/per month, per campaign. This would at the very least give you roughly $10/per day to test your campaign. This would be a very small testing budget, but you could start testing the waters with this. Many one-man businesses and even many small to medium business tend work with these.
More than happy to speak in more detail on these questions by email if you would like to connect.
Nice video. What would you say is a good sample size (or reach) to test or can I do any reach like 2000 people for break eevn ROAS to mean anything?
Hey AlienMatrix!
Great question and one that a lot of users forget to ask. A good sample is -- and I appreciate this is an awkward answer -- entirely dependant on your audience. For example, I actively work in the Financial Services space, often targeting net-worth individuals in the UK. My total addressable market is only 36k, which is a relatively small pool of users and therefore my sample size would be much smaller than, say, an e-commerce brand selling shoes.
Rather than looking at sample size to measure whether ROAS is accurate, I would instead looking at the duration of your test and your daily spend. I would suggest that a strong ROAS indicator would start to develop over a 72 hour period, ideally for a full week, to align with Facebook's testing phase. Happy to deep dive with you if you have an individual use case to discuss.