Ilya Lichtenstein proposes some solid advice for running Facebook advertising campaigns. The highlights are:
- Expect to start off losing money (and so run lots of smaller campaigns to tune and optimise them).
- Cut low-performing ads after about 30 clicks, and invest more in high-performing ads.
- A good CTR to aim is about 0.1%.
- Expect CTR to slip over time due to saturation and banner blindness.
- Use the reports help tighten your ads' focus.
- Lower your bids until you find the sweet stop (and disregard suggested bids).
- Once you've found profitable ads, scale up the spending, and look at foreign markets for extra-cheap traffic.
There are many more insights in the article. Read it if you want to learn how to get value out of this source of paid traffic.