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cost of link clicks
May 18, 2018
8:34 pm
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Hi John,

I've started my ads, and got a couple of days worth of data, so just trying to get my head around a couple of things. Hope the below is OK included in one thread - it's a fair few questions so do let me know if it's too much of a bombardment ? :).

I'm wondering about the cost per link click in different countries- am I right in thinking countries like the US/UK etc are likely to have a higher cost for link clicks? I started all my ads with 'worldwide' (as the total fb audience wasn't huge) and then as my subscribers came in from 'Chile' etc, I wondered whether I'm less likely to get sales conversions from developing countries. I seem to remember reading somewhere that sales conversions are less likely from poorer countries, so fb charges less for link clicks to these countries- is that true?

Are there any useful stats out there on this? 

I narrowed the locations down from 'worldwide' to more handpicked countries after a few hours of going live hoping that wouldn't screw too much with the algorithm, but I left the whole of Europe in.

Fb seems to be under-serving to UK/US/austalia etc for me. Is this perhaps because I have 'traffic' as my objective, and fb knows I'll get cheaper clicks from poorer countries like Portugal and Czech replublic ? Am I right about that?

 
If I've made a mistake including such a wide audience, getting most of my clicks from Eastern Europe, Greece & Portugal, I'm wondering whether I should stop the campaigns, and start again with countries more likely to buy? Am I barking up the right tree with those thoughts, or should I not assume fans in Ukraine won't buy?!
 
Are clicks optimised for traffic cheaper than clicks optimised for conversions?
 
My average cost for link clicks is 21p (28 cents) which seems encouraging, but perhaps I shouldn't get too excited until I understand the above?!
 
THANK YOU!
 
Karen
 
 
 
 
May 19, 2018
4:37 pm
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Just read back and realised you asked me to ask one question per thread, not just stick to one topic! Really sorry about the bombardment! I appreciate that you'll answer in your own time ... I totally appreciate what amazing value you are offering with your support here. Big thanks and enjoy your Sunday :).   

May 20, 2018
11:49 pm
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Hi Karen,

No worries, these are grouped tightly enough 🙂

This gets discussed a bit in MMM 4 and in various IC lessons. You almost never want to use Worldwide as a targeting option unless you are just looking for cheap garbage likes for nothing other than social proof.

The countries I would start with are the US, Canada, UK, and Australia. Possibly NZ. Unless you are in a country other than one of those in which case that might change my recommendations. If you are in the US, you might even just want to start there.

By targeting global FB will target the cheaper countries and you will get a bunch of worthless traffic that will almost never convert, and you will throw off the value of your FB audience. Facebook doesn't charge less because they don't convert (although they typically don't), Facebook charges less because no one else is bidding against you (because they are not valuable audiences.

Changing targeting in the middle of a campaign rarely works well. It seems to confuse the algorithm and throw things off. At least that has been my experience.

I would kill that ad right away and start a new one with the recommended targeting.

I would also try to think broader if you are still going with the narrow targeting you mentioned in a previous post.

Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.

June 2, 2018
6:55 pm
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Hi John,

Thanks for the above response. 

So I'll start again taking on board what you've said.

One more question for the moment: how many conversions do you think you need per ad to be able to really draw conclusions about what is working and what is not (I'm using dynamic creative)? I got around 7/8 per ad set, and I noticed in your dynamic creative tutorial you had 18 conversions and that seemed to be enough for you to draw some good conclusions. Is around 18 a good figure to head for? 

I guess in terms of working out what ad is working (rather than whether my squeeze page is working), it's more about clicks- in which case how many clicks give you enough data to trust do you reckon?

Thanks,

Karen

June 2, 2018
8:58 pm
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PS When I say 'what is working and what is not' above, what I mean is, what ages, locations, dynamic creative assets etc. Thanks :).

June 3, 2018
9:45 pm
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Hi Karen,

If you go back over that lesson I believe you'll hear me say that 18 was nowhere near what was needed for true statistical significance. That was just an example because it was what I had to work with while recording the video. 

True statistical significance usually takes thousands of actions. This is one of the reasons Facebook's real Split test feature requires a typical minimum of about $800 to determine anything (A/B testing is different than Dynamic Creative). But the issue there is that most of us just can't afford that.

So my honest answer is that it's a bit of a gut thing.

I'd like to have at least a few hundred people land on a page before I make any decisions. But if I'm going to kill something after just 200 clicks or so, I also want the gap in performance to be significant. In other words if I only sent 200 click to a landing page and one ad was responsible for 20 conversions and another got 15, I wouldn't be confident that this trend would hold up.

But at the same time If something comes out of the gate doing absolutely terrible, I might kill it really early just because I would be doubtful that the algorithm would recover. It all kind of depends on how much I'm spending and how good or bad things are performing.

But I realize you want something you can walk away and apply to what you're doing, so what I would say is run at least 100 hundred clicks (ideally a lot more) and then start turning off elements that are way off. So if one image is getting $1 subs and another is getting $7 subs, just turn that off. It may very well be that things would have turned around, but for our purposes we are less concerned with the losers that could have been winners, and more concerned with picking some elements we know are winners. 

That advise is meant for those that are budget conscious and only spending a few dollars per day. When you get into bigger budgets I would recommend letting things run longer.

Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.

June 5, 2018
2:46 pm
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Hi John,

Thanks very much for giving me this overview of how it all works. Please do let me know if the below questions are too bombardy, and I will ask to have an extra paid consultation with you. I'm really hopeful about all this, but have a really strong instinct to make sure I play my cards right to avoid heamorraging money on facebook unnecessarily. However I am now thinking it might be worth taking the plunge investing enough at this stage so I can get some proper data, as well as relying on my gut feelings which tend to be pretty good too.

I am looking into broader audiences, looking to find audiences that are at least 200,000 after having put in my demographics (geographical and age), which I think was your advice? Or did you mean at least 200,000 before narrowing them down with demographics ? I think I will probably try 2 bigger audiences and 2 that I think will be super targeted but smaller, or do you think I should steer clear of small audiences all together as they won't be sustainable? 

When you say turn off an image (above), do you mean press the X on that image in the ad, whilst the dynamic creative campaing is still running- apoligies if I didn't absorb that info from your video- I didn't realise you could do that.

I have another couple of questions which I will ask in another thread.

Thank you as ever. 

Karen

June 5, 2018
2:49 pm
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Oh and finally, my relevance scores aren't showing up. Any idea why that might be and should I spend time trying to work that one out or will I have enough info with everything else really? Thanks 

June 5, 2018
8:45 pm
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Karen Grace said
Hi John,

Thanks very much for giving me this overview of how it all works. Please do let me know if the below questions are too bombardy, and I will ask to have an extra paid consultation with you. I'm really hopeful about all this, but have a really strong instinct to make sure I play my cards right to avoid hemorrhaging money on facebook unnecessarily. However I am now thinking it might be worth taking the plunge investing enough at this stage so I can get some proper data, as well as relying on my gut feelings which tend to be pretty good too.

No worries at all. As far as hemorrhaging money goes, that is always a concern. But if you start small with a $5/day budget and go after traffic (just to learn the ropes) you can't really go wrong. This is why I advise it in MMM, even though I know that conversions are ultimately a better metric for 99% of people. But my feeling is that $5/day is really just an (admittedly high end) cup of coffee each day, to start engaging with real people about your music.

I am looking into broader audiences, looking to find audiences that are at least 200,000 after having put in my demographics (geographical and age), which I think was your advice? Or did you mean at least 200,000 before narrowing them down with demographics ? I think I will probably try 2 bigger audiences and 2 that I think will be super targeted but smaller, or do you think I should steer clear of small audiences all together as they won't be sustainable? 

I do tend to avoid small audiences because they are not sustainable. But if your budget is small then a small audience is ok, especiallay to start. Generally though, I was talking about audience size after narrowing things down.

When you say turn off an image (above), do you mean press the X on that image in the ad, whilst the dynamic creative campaing is still running- apoligies if I didn't absorb that info from your video- I didn't realise you could do that.

Yes, you can do that. In the Dynamic Creative lesson I suggest running the ad as is for a while and then taking the data and starting a new campaign. But I have also turned off elements. Both work and how I do it depends on how the campaign breaks and how many elements I am testing. I feel that the first approach is better and will get you more reliable data, but it takes longer and is more expensive so budget is also a factor.

I have another couple of questions which I will ask in another thread.

Thank you as ever. 

Karen  

Happy to help.

Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.

June 5, 2018
8:46 pm
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Karen Grace said
Oh and finally, my relevance scores aren't showing up. Any idea why that might be and should I spend time trying to work that one out or will I have enough info with everything else really? Thanks   

Usually that is just because you haven't run the ad long enough. But make sure you are looking at the ad tab and not the campaign or ad set tab. And make sure you are looking at lifetime view instead of daily view.

Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.

June 13, 2018
11:29 am
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Thanks I think it's because I didn't run the ad that long. Helpful insight, thanks.

June 13, 2018
11:34 am
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And thanks for responses to the previous longer message. Much appreciated.

June 17, 2018
8:17 pm
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\m/

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