With Facebook ads, we want to scale up the winners and cut / change the losers.
Problem is, you can’t be sitting on your computer 24/7 making micro adjustments to the ads to make the most of it.
You can’t, your agency can’t (and won’t).
So how can you stop poor performing ads before they become a cash burning disaster?
And how do you automatically scale up winning ads as soon as they make themselves known.
One of my favourite features in the ads manager – and one that the average business owner may not have made use of, is the ‘Rules’ feature.
Just like with stock investing – you can create ‘stop losses’ to automatically stop an ad if performance goes below your KPI (ps. you should have KPIs for your ads)
This becomes very important when dealing with bigger budgets because if an underperforming ads starts tanking just after you go to sleep..
It could wreak havoc all night and smash through your budget and get no results.
The opposite is true as well.
We want to scale up the winners the second they have established themselves as a proven winner.
I’m a big fan of removing human involvement where possible. If we can systemise and automate it, then why wouldn’t we.
Here’s two examples of rules you could set up:
1. Turn off ad set if CPL is over $X
2. Increase ad set budget daily by 20% if CPL is within KPI
Hope that helps,