Currently i am getting a good ROI from my facebook ads. My daily budget is anywhere between £50-£70 but I can afford to make that £200 a day. I do not want to simply create an ad set and set the budget at £200 a day because that won't be effective.
I am at the stage where i want to scale this business massively but i do not know the best way to scale my FB ads up to £200 daily.
Hope to get a few responses.
Glad to hear that your facebook ads are doing well. As you said,increasing the budget directly to 200 per day won't be helping much.
You can rather use this opportunity to test different campaign types and audiences :-
1) You can try lead generation ads. Gathering leads via facebook ads is a very cost effective way. These will help you in getting the emails of people who are interested in your products or brand. Once you have their emails, you can contact them whenever you have an offer or sale running. This way you are getting long term customers. Apart from that based on the information provided by the people in lead forms you will get to know if there is particular geography where people seem to be more interested and you can moderate other ads based on this information. You can try and run this Ad at a budget of 10 per day and see if this works.
2) Since you are scaling up, it seems to be the right time to put more effort towards building a brand. Content generation is a key factor here. Running Reach or Post Engagement Ads for your content will help you in reaching out to more and more people. This may not help in getting sales directly but they are really helpful in identifying your potential customers out of a completely new audience. You can later target specifically the people who have engaged with your Ad. Again, you can start running these Ads at a budget of 10/day. These type of Ads will be best suited for a completely new audience.
Read this article to find out what's the right audience for you.
3) Also, have you uploaded you product catalog on facebook for dynamic product Ads. These Ads are conversion specific and will help you in getting more sales.
You can run all these experiments and see what works for you. Once you identify, you can gradually increase your budget.
Try testing your current Ad sets by increasing some budget (say 10). This can help as well.
Orangetwig :- Drive traffic to your store by social media