I was browsing on reddit and came across this great post on tuning your advertising on Facebook. Credit goes to the following url: Business Tips
1) Facebook Ads
a. This is where I think you could really get some real sales.
b. The name of the game here is demographics and interests. If you can
lock these one of these down, you can produce a goldmine. If you can
lock both, then you’re even better off.
c. So create ads, and test 5 different images (of your product, or
something at least related to MH, which I would classify generally in the
beauty category as something to help you ‘get ready for the day’), and
keep the text copy the same. Test $1-$5 on each image to see if one
stands out as being the most effective in terms of getting clicks (better
known as clickthrough rates). Once you have a winning image, then
create a new ad using just that image, but target demographics of 5 year
windows and gender, so something like the following
Ad Number Gender Age
Ad1 Male 20-25
Ad 2 Male 26-30
Ad 3 Male 31-35
Ad 7 Female 20-25
Ad 8 Female 26-30
Ad 9 Female 31-35
Repeat this for all relevant age groups. Then spend another $1-$5 or so
testing to see which groups best respond to your ad. Whichever groups
don’t respond well, cut them out of your advertising – they are just a waste
of funds. Once you land which group works best, then you can focus your
advertising on them and spend as much money as you want, so long as
there is a positive ROI. And similarly you can target ads to people who like
specific interests (such as “fashion”, “jewelry”, “men’s wearhouse”, etc) to
see which groups respond best and give you a positive ROI.
d. This is the general idea with facebook. Keep playing with and testing
until you hit the jackpot(s). With 1billion+ people on the platform, you’re
not likely to run out of customers there any time soon.
e. One other note when advertising on facebook – sidebar ads tend to not
do so well, so focus your investment on ads that are in the newsfeed. And
while I would start out only displaying ads to desktop computers and not
mobile devices, test it out and see what your audience responds best to.