Recent Facebook ads tips and tricks I've picked up.

I've been running facebook ads for 2 of my companies and few clients for past two years and would like to share some tips and tricks I've picked up to lower cost per click, cost per purchase and get more sales and leads in the end.Facebook ads is still one of the most effective tools to drive super targeted traffic to your business due to the fact that they have so, so much data on people and their tracking works well even after the so dreaded IOS 14 update.If you're new to FB ads, note that your first campaigns are not meant to be proffitable. You're essentially testing interests, ad creatives, budgets and optimisation goals to find one combination that CAN be profitable.So tip No. 1 is split test lots of interests and creatives when starting out.For example if I'm selling a dog themed hoodie I'd setup 1 campaign with conversions goal in which I'd add 5 adsets, each targeting 1 interest and 1 interest ONLY. To each of these adsets I'd add 4 or 5 different creatives.Then I'd let the campaign run for 2 days minimum with at least 50$ a day budget and then analyse results.This brings us to tip No. 2 - have a decent budget when starting out. To find profitable ads you'll need to spend AT LEAST 50$ a day for a week or even more, depending on what you're selling so save up some cash or better yet, have some additional income streams supplement your ad spend at first.Tip No. 3 - If you're selling a product or service that is more expensive or generally not an impulse buy like a mug or t-shirt, you'll most likely need to run retargeting ads to be profitable.So in this case let's say I'm selling $120 laser epliator. I'd have to campaigns to try to be proffitable with this product. One would be like the one we discussed in first tip.The second one would be a retargeting campaign where I retarget people who visited the website, added to cart and initiated checkout BUT didn't purchase with a general retarget ad with a 10% discount to incentivise a buy.Keep in mind, for expensive purchases, people will need to see your ad more times so make sure you have lots of different creatives(Video mainly) and are retargeting people who watched your video ad with a different video ad. Also, the more expensive the product, the more people will rely on reviews so make sure you have legit reviews your next customers can easily find.​Tip No. 4 - Make custom audiences for cheaper results. Lately, I've been really successful with getting $5-$8 cost per purchase for $59 item because I'm utilising look a like audiences(LLA's)LLA's are basically new audiences facebook makes from a sample audience you give them.For example, In my main campaign I'm running 5 video ads that got about 20k views. What I do next is create a custom audience of 3-sec video views from that video and then create a LLA from that custom audience.The result is that facebook finds more similar people to who watched my video. In the end I'm getting my own custom audience that noone else is bidding on resulting in much cheaper results.​Generally, there is no one strategy that will work for everybody, when you're running ads, you'll quickly adapt and tailor the ads to the results you're getting, but these points I laid out are a great place to start! see hubwealthy.com/wealthy