What does a starter Facebook Ads account look like? Please help me strategise toward profitable ads!

[VersesLondon]

Hi all,

I'd like to try out ads for my store, and they seem to be running okay, but only so well that I'm breaking even. What do I need to do to make them profitable?

I've attached a screenshot of my Ads Manager, these ads have been running anywhere between 3-9 days, I've changed the individual budgets a few times. All ads are running at Average/Above Average for Quality/Engagement. This was a lukewarm start - I had a small instagram account and a few shopify customers that were enough for a lookalike, but I used traffic ads to push a few hundred people to my site to start retargeting ads (otherwise my site only gets a couple of visitors a day as I've recently been on a bit of a break). I've since cut the traffic ads as I don't think they'll bring in a high quality audience if my aim is to convert. 

Typical product price is £30.

So to keep it short my question is, where do I go from here? Do I just try to balance the budget between traffic and retargeting? Do I need to let them run for a few more weeks to see if they start bringing a healthy ROAS?

Any tips, tricks and/or reading resources would also be appreciated!

Thanks so much!

[Danishecom]

@VersesLondon i am unable to say right now because i think this product is not working well for you and also you did not mention how long you're running your advertisement. you just showed a 1-day budget and haveing showed how longer your ads running. also, i think you re not have any strategy to test products. you have to monitor sales 24 to 48 hours then we take the decision we need to continue or kill the add set. I think you're not targeting purchases from day 1 ppl use different strategies but my experience to target purchases from day 1. in case you need my help related to marketing and growing sales let me know. also, it depends on how attractive you have made your website and appealing. you have to make good ads creative to attract ppl and buy it.  can I review your site? 

email yupsoftware4@gmail.com

[VersesLondon]

Hey, thanks for your reply!

The ads have been running between 3-9 days (some are newer than others), and this isn’t a single day snapshot, it’s the lifetime view. 

The website had a 1.5% conversion rate until I started the ads, it’s dropped since then as there’s been a lot more cold traffic. 

Yes, I’ve since killed the traffic ads and kept only the ones that optimise for conversions/retargeting, but that still leaves me with fairly ineffective campaigns overall. 

I don’t have industry experience, but Google says most ads have a CTR between 1-5% and mine fall in that range, so I’m still struggling to see where I’m going wrong? 

[Addyz]

If you have some traffic letaly, say 1000 visitor session. Create LLA of different events on your store for e.g LLA of visitors, purchaser, buyers.
Start a campaign for your LLA Audience and you will definitely see some genuine interested audience coming in to your store.
If that traffic generated some abandoned cart events. Start re-targeting to them. 
This strategy really had worked well with some of small-medium businesses with which we have worked with at Addyz .
Finally, DONOT kill your campaign Prematurely. give some time to your LLA Campaign to learn and explore. GIve it atleast 15 days with decent budget. Our app have provided ROAS in range between 10 to 20x with this strategies only.
if there is anything you want to learn more, just drop a message below and look if i could be of more help