Getting to Revenue Faster With Experimentation
Silvio Perez, Head of Ad Operations at Metadata, shares practical tips on how to get the most out of your paid campaigns and find what works. He explains that while experimenting can be messy, there are some simple ways to experiment, stay on track, and hit those revenue targets you’re looking for.
Tune in to hear Silvio explain the four key steps to experimenting, testing, and scaling your paid social ads to maximize your growth.
⚡️ Four top takeaways:
Takeaway 1: Focus on the 3 As
The first step to getting smart with your ad campaigns is to start with the three As:
This should be your order of focus. Start by testing your audience and figure out who is converting and driving the highest quality leads. Once you’ve nailed that, test different types of ads to find what resonates the most.
Lastly, test your assets. This is where you understand what messaging resonates best with your audience. You can then start to add more into the mix to see what works.
Takeaway 2: Experiment with setup
When experimenting with different ads, you’ll want to use a solid naming convention for each campaign to keep track of them. That’ll help you identify them at a glance so you can quickly rotate them and test them out equally.
Silvio suggests that you avoid any form of ‘expansion’ unless intentional, so keep that box unchecked for now.
Takeaway 3: Protect your budget through automation
No one wants to see their ad budget spiral out of control. So, put some safeguards in place. Thanks to the wonders of automation, you can set limits on your ads on most platforms.
It’s easy enough to pause your ads automatically that way. You can set them up to pause if they don’t result in any leads or if the cost per lead is higher than X amount.
Silvio recommends setting a CPL goal and then pausing at 2 or 3x that so you’re not overspending too much.
Takeaway 4: Scale and experiment with new opportunities
Once you’ve got a tried-and-tested ad campaign, don’t leave it at that. The trick to revenue growth is to scale what works.
Silvio likes to use the 80/20 rule, which is 80% of your outputs come from 20% of your input. So, identify what that 20% and do more of it.
Eventually, you’ll hit a scaling wall, but that’s why you should always be on the lookout for new opportunities. Try out different ad types, content types, or objectives of the campaign. If you’ve only ever run campaigns to drive sales, try focusing on website visits instead. Try out different platforms and even audiences to see where you can push it further.
Paid advertising is a constant game. It’s always changing, and so experimentation on different tactics is your best friend here.