Part 5 – Monitoring, Analyzing, and Optimizing
Monitoring, Analyzing, and Optimizing
With this much ad spend you definitely want to make sure that you are properly monitoring, analyzing, and optimizing the data!
Our biggest monitoring mechanism is our Daily Key Performance Indicators (KPI) report. Every morning, we receive a report that tells us what the ad spend and ROAS was for the previous day. We do not get too in our feelings about what we call “day to day” data - but this report is vital because it allows us to quickly get a pulse on how things are trending. If the account shows up Green (aka our Hit List) pretty consistently...then we know we are on pace to hit our goal. If on the other hand we see an account continuously showing up as Red….then we know that we need to seek new strategies on how we can improve.
Another report that we leverage is a Weekly Report. The Weekly Report gives us more information about the actual data within the account. For example...how are different age ranges performing, how are different placements performing, how are different states performing, etc. Sometimes you can find valuable nuggets that can help your performance.
Our most critical optimization tool would definitely be the use of automated rules. If you are trying to manage this much spend without automated rules - bless your heart. You can use automated rules via Facebook’s native rules or you can use a more sophisticated and costly tool such as RevealBot.
What this allows you to do is make sure that bad ad sets/ads are getting paused before wasting too much money and good ad sets are aggressively scaled.
We set up our rules based on our different temperatures. So for example an ad set that has a 200% in our COOL campaigns is great and would warrant looking to scale whereas an ad set in the HOT campaign that has a 200% would likely be a candidate to get paused.
If you get your automated rules dialed in, it will save you a lot of time and also give you peace of mind.
When we discuss the performance of the account, we do so by looking at the data for specific temperatures. As stated above - each individual temperature has their own target goals. So if we see that the COOL campaigns are hitting their goal but the WARM campaigns are not, that means that the most immediate attention will be giving to trying to improve our WARM campaigns.
One thing that you want to be weary of is cutting off things too early. Typically for this account, we let an ad spend at least $90 which is about 3x our desired CPA before calling it a loser.
You also need to be on the lookout for delayed attribution. You could turn an ad set off today that was well below KPI, but when you take a look a week later that same ad set could be above KPI. This happens when someone sees your ad on Tuesday, and then says I am going to wait until payday on Friday to buy. If that scenario happens then the credit for the sale is going to be giving to Tuesday and not Friday. We use an automated rule in RevealBot to make sure that good ad sets with delayed attribution are automatically turned back on for us.
The Big Payoff
Now it is time to talk about the actual results of our efforts!
When it was all said in done we hit our spend goal of at least $100,000.
We also hit our ROAS goal of at least 200%.
Now you may be thinking...WOW they hit 200% right on the dot! Actually - we hit closer to 214% ROAS. Those red squares that are highlighted under the OCU columns is what I like to call the icing on the cake.
One Click Upsell (OCU) and it is a Shopify app that allows you to create post purchase upsells. That means when someone buys from CurlMix® - we then immediately offer them up to 3 upsells and up to 1 downsell. As you can see - as crazy as it sounds there are 6 people that actually said YES to all 3 of the upsells offers haha.
What this allowed us to do was create an additional $11,438 in sales which lifts our ROAS from 200% to 214% - which is a big deal. Let that sink in - if we didn’t offer the upsells we would have lost out on generating an extra $11K.
If you want more information about how this app as well as some of the others we use. Click here to get it →
As I stated in an earlier section - the actual amount of sales generated for the store is considerably more than what Facebook is reporting even though Facebook makes up 98% of the paid media buying ad spend.
There is no way that we would have been able to put up these results without a solid conversion rate. As you can see below we converted 4,331 of our 105,584 clicks into purchases - which is a totally respectable conversion rate of 4.1%.
If your store isn’t converting at least 3% at scale, you are likely going to have a tough time finding success - unless your AOV is much higher.
To increase conversion rate, we rely mostly on creating standalone landing pages via software such as Zipify Pages and Funnel Builder. If you are interested in finding out more about those tools just click here →.
Another key metric here is the AOV of roughly $60. When you scale, things such as cost per click is likely to increase...so one way to combat that is working on your average order value.
When we first started in May you can see below that our AOV ($43.26) and our conversion rate (1.56%) was nowhere near what it is now.
If you have learned anything from all of this - it should be that no matter what, success will take time and it will take testing.
How Can You Be Like CurlMix®?
Hopefully you are now inspired to take action and transform your business with Facebook Ads just like CurlMix® did!
With hardwork and dedication it can definitely be done - but there are no shortcuts to success.
CurlMix® already had an exceptional brand and vision in place before ever partnering with us. Their store looked like a store that was capable of doing $250K+ months. If you had an intern build your store on WordPress because you didn’t think that investing in Shopify was worth it - then you don’t have a store that is capable of doing $250K+ months (most likely).
CurlMix® also makes sure that we have whatever we need. If we tell them - we need 20 videos a month to be successful - they are going to find and pay to get those 20 videos created. If we let them know that we need a Shopify app and they are going to need to pay for it - the response is always “done.”
CurlMix® also puts their trust in the experts. They don’t ask to review ads, they don’t micromanage the account, they don’t schedule meetings every week to talk about performance, they aren’t freaking out when we have bad days (yes - we do have bad days). Instead, they know they are paying us to do a job - and they trust us and they trust the process.
All of our most successful clients have these exact same characteristics.
I sincerely hope that you found IMMENSE value in this case study. My team and I worked super hard to make this as EPIC as we possibly could!
I understand that for some of you this content may not totally resonate at the moment... and that is okay. Bookmark this case study - and circle back to it when the time feels right. We tried to create this case study as evergreen as possible - which means that even when Facebook algorithms change (and they will) or even when the cost to advertise on Facebook goes up (and they will too) the majority of this information will still be relevant.
I would like to give a very heartfelt THANK YOU to Kim and Tim from CurlMix® for allowing us to create this case study for public consumption. Lots of clients wouldn’t be okay with us being so open and transparent with their account - but they gave us their blessing to do just that. Definitely go check them out at www.curlmix.com - they have awesome products and they are awesome people that deserve every bit of success that they have obtained.
Last and certainly not least - I want to give a very heartfelt THANK YOU to YOU. This was not a quick and easy read. If you are reading this right now that likely means you invested a good chunk of time reading this case study (or you just skipped straight to the end) and that is something I don’t take for granted.
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