Question

Since facebook needs 50 conversions per week per adset to be able to optimize how would I go about doing this when the product we're selling is a $2000 ebike? What would you optimize for? And what would you target except age and gender? I mean, who would be the ideal customer on Facebook that wants to buy an ebike? People that like cycling? Hmm, I doubt it. Does someone has experience with this who would want to share his knowledge?  

Answer 1

Optimize for ad to carts and retargeting those users. If you need more data and can’t get it through conversions than go to the next best conversion point, add to carts or optimize for payment page. Then build a list of buyers over time.  

Comments

@oversee6772 when retargeting those who have added to cart, would you still run as conversion objective or web traffic?  

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@datum i always wondered this too

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I don't buy FB traffic currently. But logic about machine learning says it needs data. If you can't justify getting enough sales due to the price point, then facts are facts, you need more data, if your conversion pixel is on the thank you page, it cannot collect data, so you need the next best conversion point that also generates enough data, but the conversion point has to be as valuable to retarget as say the conversion sale point: ie, checkout page abandons, cart abandons as your point for a conversion pixel, as far as I am aware you have different options to tracking as far as conversion pixel is concerned, not only just sales, unless you just want clicks, I wouldn't use web traffic because you'll teach facebook you want to see a bunch of entertained people that can't afford your good but like to look at it. Stick with conversion objective but make sure your tracking it for the next best performing data conversion point that also generates enough data; since your can't justify enough sales to teach the machine learning model with a $3000 product.  

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@datum I would run Reach. As long as you’re retargeting, your CA is your optimization. Cheap way to work with a high-value, limited audience. If you’re going to use AWV then you might want to consider Traffic, depending on overall volume to your site.  

Answer 2

We were selling these in the UK last summer. Customers do shop around. Luckily our client gave us a good price point to work with and that made the process easier. Quite a few variables come into it as quite a few different potential customers out there. So we created a number of different audiences, we obviously then tailored different Ads to each of these audiences. A big headache at the start, but was worth it in the end. Also another big point was the range that the bikes gave… What range does yours offer per charge?  

Comments

@circumfluent1 70 km by default but can be upgraded to 110 km

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@elastic That’s very good. The ones we had were 35miles (56km).  

Answer 3

You should create an adset with $2k daily budget. That should get you the 50 conversions you need.  

Answer 4

We personally always dive straight in for purchase. Even if we aren't hitting the 50 conv a week. 0 issues on our end.  

Comments

@elastic^^

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@commonwealth even on a 2k product?  

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@elastic Hell to the yea

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I do it for a $10k+ product.  

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@commonwealth what kind of a daily budget do you have on the campaign for the 10k product?  

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Typically around $400-$500/day. But depends. I have another one where we only spend shoot, $50/day and our main goal is leads, but we've been able to see the correlation for each step of the conversion cycle to where if we get 1k leads, x% are going to this step, then x% are going to the next step. And that works for us. So it's also more about understanding the buyer/conversion cycle as well as understanding the metrics at each point in the buyer cycle. And that's for a $30k physical product.  

Answer 5

The longer you are around in the space and the more you speak to FB reps, the more you learn that they have a concept about how the ideal world works (where life is all sunshine and rainbows). Don't get me wrong- they can be very helpful! But when it comes to practice, these ideas like 50 conversions per week per adset, etc. don't really hold their weight. You are selling a product with a high enough price point that you need to be ready to spend some decent ad $$ for every conversion. I would also go straight for purchase. As far as who your ideal customer is? Create an avatar who is agile & flexible, then adjusts with the data. Right now you have assumptions. They don't really mean much until you have results. Listen to your data brother!