I would like to ask a question regarding fb marketing. I've always been hearing $5 ads for the fb campaigns. If I were to do for e.g.
1 campaign - > 5 diff ad sets of 5 diff interests each at $5 per ad set - > 2 to 3 ads per ad set
From this, what should I be focusing on? The CTR or the CTC? And how long should I hold the ads before killing the ones not working?
Your approach to Facebook marketing is exactly right but you should allocate a daily budget for each ad set - approx. 10 USD per day.
After a week evaluate which ad sets have a low CTR (Click through rate) and drop those ads and increase the budget of the other ad sets with a higher CTR.
A CTR of around 35-40 percent is excellent!