how we make $200k a month with Facebook Ads (updated strategy) 2024

Summary

In this video, the speaker, Nathan, shares insights on achieving $200k monthly revenue through Facebook ads, highlighting recent platform updates and best practices. He discusses testing strategies, scaling methods, and the importance of creatives in ad success. Nathan also emphasizes the significance of product selection, using tools like Shop Hunter to track competitors and identify winning products. He provides a candid look at his testing process, including managing ad sets and budgets, and offers tips on structuring campaigns for optimal performance and scaling.

Takeaways

• 📈 The speaker is aiming to break down a strategy to make $200k per month with an updated Facebook ads approach, indicating recent changes in the platform's ad system.
• 🎯 Facebook ads success hinges on a combination of creative, product offer, and structure, emphasizing the importance of all three elements for effective advertising.
• 🛍️ The speaker has experience in e-commerce, having scaled multiple brands and exited a dropshipping brand, showcasing credibility and experience in the field.
• 📊 The speaker discusses the importance of testing and scaling strategies, including maintenance for testing and scaling within Facebook ads.
• 📝 There are three types of testing methods mentioned: AO testing, ASC testing, and flexi testing, each with its pros and cons.
• 🔍 AO testing is the speaker's preferred method due to its manageability and effectiveness, suggesting it might be more reliable for certain Facebook ad accounts.
• 📉 The speaker highlights the drawbacks of ASC testing, such as the potential for Facebook not spending on a good ad due to its machine learning optimization period.
• 🚫 Flexi testing is not recommended by the speaker at this time due to reporting issues that make it difficult to assess ad performance accurately.
• 🛒 The importance of using tools like Shop Hunter for tracking competitor stores and identifying winning products is underscored as a key part of the product selection process.
• 📉 The script details the process of managing a testing campaign, including how to assess and adjust ad sets based on performance metrics like cost per purchase and click-through rate.
• 📈 Scaling strategies involve moving winning ads from testing to CBO (Campaign Budget Optimization) and ASC for further optimization and reaching new customers, with a focus on daily scaling adjustments based on profitability.

Q & A

What is the main goal of the video?

The main goal of the video is to explain how to structure and scale Facebook ads to achieve a $200,000 per month revenue, including discussing testing strategies, scaling strategies, and maintenance.

What is the significance of the $111,000 mentioned in the video?

The $111,000 is the revenue achieved in 15 and a half days, indicating the success of the Facebook ads strategy and serving as a benchmark for the target of $200,000 per month.

What are the three types of testing strategies discussed in the video?

The three types of testing strategies discussed are A/B testing, Advantage Shopping Campaigns (ASC) testing, and Flexi Ads testing.

Why does the speaker prefer A/B testing over the other methods?

The speaker prefers A/B testing because it allows for easier management, better control over budget allocation at the adset level, and it generally provides results more quickly than ASC testing.

What is the recommended budget for testing each adset?

The recommended budget for testing each adset is between $10 to $50, with a suggestion not to go lower than $10.

What does the speaker suggest for managing newly tested ads that are not performing well?

For newly tested ads that are not performing well, the speaker suggests reducing the budget or turning them off, and then reviewing and testing new batches of creatives.

What is the 'Rule of Funs' mentioned in the video?

The 'Rule of Funs' refers to the guidelines for structuring Facebook ad campaigns, which include having one product per campaign, one country, and keeping the campaigns focused to optimize machine learning.

How does the speaker propose to scale successful ads?

Successful ads from testing should be put into either a Campaign Budget Optimization (CBO) campaign or an Advantage Shopping Campaign (ASC) for scaling, starting with a budget of $100 to $1,000 per day and scaling up or down based on profitability.

What changes has the speaker noticed in Facebook ads that prompted the video update?

The speaker updated the video due to changes in Facebook ads, such as the introduction of flexi ads and the improved performance of CBO campaigns over ASC.

What is the role of Shop Hunter in the speaker's strategy?

Shop Hunter is used to track competitor stores and identify winning products, which is crucial for finding products that have a proven market but can be differentiated with a unique selling approach.