If you've run Facebook ads for any length of time, one of the things you learn is how difficult it is to consistently generate profitable results. Running a profitable campaign for two months is hard enough. Running one for several months is even harder without creating new campaigns, trying new bidding strategies, etc.
Out of all the campaigns I've run, however, there is one that has been consistently profitable. It's been running since October of last year while consistently getting results. To be honest, it's been a dream come true because rebuilding campaigns and trying new things is a pain.
What I want to share in this post is what that campaign looks like, but it's important to know it may not work for everyone. If it does, great; if not, please accept my apologies ahead of time.
Ok, so what does this magical campaign look like? Here's the basic setup:
- Campaign Type: CBO
- Bidding Strategy: Cost Caps
- Budget: $400-$600/day
- 4 Ad Sets: (1) 30-Day Remarketing ($25 Cost Cap – 4X actual CPA) (2) Interest Stack ($25 Cost Cap – 2X actual CPA) (3) LLA Stack ($25 Cost Cap – 2X actual CPA) (4) Broad, No Targeting ($25 Cost Cap – 2X Actual CPA)
So, why does it work? From what I can tell, it seems to give Facebook the ability to spend the budget where it will get the best return AND it protects the bottom from falling out on the campaign. Instead of setting the cost cap to match our desired CPA, we use it to make sure we never drop below a return that will be awful, i.e. we use it as a floor on the campaign in order to protect from really bad results.
Overall, we've spent $95k in 6 months with a 3.10 ROAS. Like I said, it's been a dream come true. We have other campaigns that have achieved similar results, but this is one has been the most consistent with the fewest changes.
Let me know if you have any questions about this approach and if you find the post helpful.