I'm getting $0,04 landing page views.
I'm quite new to the whole indiehacker thing, but a few days ago I decided to create my first facebook ad campaign for my first product. A code snippet market place, to increase developer efficiency: http://yeahboilerplates.com/
I set the budget for the campaign to $5 a day, to test the waters. This campaign has been running for 3 days now. And now I'm averaging $0.04 per landing page view. I looked around the internet to compare this figure with the average for technology related businesses. It is $1.27, wow! This is more than 30 times as high as mine is!
For this campaign I utilized a rather large target audience, 16 million people, who are developers. As far as I understand broader target audiences are less costly compared to more a targeted one, though they have a lower click through rate. My click through rate is about 0.65%, and the conversion rate (newsletter signup) on my old landing page was ~2%, but on the new version is is ~3%. I would not be too confident in the conversion rate, though, as only a couple hundred people have seen my page as of now.
Nevertheless I'm wondering what your opinion on this is. Is this an anomaly? Should I increase the budget, to grow my mailing list, or are these results no indication of success and I should focus on content markting instead? What are your suggestions?
If you have any questions feel free to share them :)
Every start is a good start. Congrats!
Quick advice: Do more experiments i.e. more ad sets under a campaign at the same time. Numbers seem good but don't forget your major goal (assume email sign up).
Be mindful when you use Developer as a keyword, some other industries also sharing the title for example real estate and construction.
Aim for a bigger impact besides cheap view :) All the best!
Thanks for the advice!
Hey Tobias, if you set your goal to be landing page views the FB Ads algorithm will optimize towards that goal. This usually results in driving a lot of cheap viewers that doesn't convert.
Make sure to have the pixel installed and definitely test the conversion objective. Forget about CPMs and CPCs: the only metrics that count are CPAs. Then see which objective performs better and stick with that.
Once you find a winning ad, avoid making changes: this will reset the learning phase and mess up the algorithm.
Thanks for the useful tips! I'm still new to all of this!
Btw: What do you think of twitter ads?
I've never managed to make it work, but in this case since your audience live especially on Twitter I'd test it.
IMO first master Facebook and only then go for Twitter. Each platform is hard enough to master, so better be at least really good at your first choice, and then move on to the others (one at the time).
Thanks again for your tips!