1.) Make good video ads (creative selling) which will increase customer retention and help with picking targeting
2.) 2D and 3D animations have a higher conversion rate
3.) Formula for Ad Auction is Total Points = Bid Price (e.g. $10) x Conversion Rate + Relevance and Quality
4.) Bid price will always be the major determinant, but finding the core demographic for the product and targeting them will boost the relevance stat.
5.) Conversion rate can be increased by searching the product you want to sell and adding reddit in a browser search then seeing the features people talk about to differentiate the best products in that category or niche.
For instance “best candles reddit” led me to this iridescent tropical volcano candle. Not that I’d ever sell candles but solid advice on getting the best of a niche.
6.) Facebook will scrape your website to make sure the keywords you use in your ad are on your website so make sure to update your website to reflect what you are selling.
7.) People who interact with your business (95% watch time on video, added item to cart, visited product pages) are going to be the best people to target these ads to.
8.) Exclude people who purchased from the website so they don’t hide the ad or write a negative comment which Facebook penalizes in their algorithm.