Hi @GaryBusey1 ,
here are answers to your questions based on my experience with running ads on Facebook:
Conversion Event: From my experience, even if you don’t have the advised 50 purchases, it’s still worth trying it out. I have clients who don’t have 50 purchases and the ads work.
Detailed Targeting Expansion: I usually use this expansion since it makes the audience wider and you can target more people (even if you choose specifically the interests, there might be some people without the interests you chose who are interested in your products.)
Automatic Placements (Recommended): What I usually do, I choose automatic placement when I start running the ads. Facebook will get more data and the ads start learning faster. When I have some data, I switch to manual placement. Be aware of using automatic placement for all of the campaign objectives! It happens that e.g. when you run brand campaign objective, Facebook usually choose Messenger placement, right column and other placements which people hardly notice. Always check where your ads show up! However, If you wish to run ads only on Instagram, yes, go for it.
Attribution Setting: After the iOS changes, the 7-day-click is the default attribution window. However, after the iOS changes, it might take a couple of more days before you see the real results (even up to three days)! Be prepared to optimize the ads based on this information.
Optimization for Ad Delivery: Give it a try! If you don’t test it, you won’t know the real impact of it. However, when I want to get purchases, I usually keep conversions instead of landing page view or else.
Audience Reach: It’s not that clear. Sometimes, with a big audience, the ads won’t be working because it’s hard to choose the right people. On the other hand, if it’s too small, the ads won’t learn! However, if you see the notice that your audience is too small, try consolidating some of your ad sets to get a wider audience.
What size budget a day is a good starting point to grow?: It depends on many factors - your average price of product, your competitors, countries you’re targeting, etc. To start, I recommend starting with a smaller amount of money and if you see that it’s working, I recommend slowly increasing the budget. Some eshops start with $50/day, some with 300$ day. Really depends on the business, budget, desired goal, etc.
Hope this helps!
Nikola