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NEW Winning Products CBO Strategy | Shopify, Dropshipping, Facebook Ads

Published on: December 3 2022 by Dylan Pondir

NEW Winning Products CBO Strategy | Shopify, Dropshipping, Facebook Ads

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NEW Winning Products CBO Strategy | Shopify, Dropshipping, Facebook Ads

$900 spent almost three thousand dollars
in revenue generated utilizing a CBO
testing strategy that I've been trying
to crack for the past two weeks
I've been toking about this a ton in my
facebook group sharing my my journey and
I've gotten to the point where I feel
comfortable sharing the strategy with
you all because I do have a huge amount
of confidence in it now further ado I'm
gonna take you into my add accounts into
my store analytiks and show you the
insider information on exactly how I'm
doing this okay so here are the ad sets
that are currently running under the
purchase objective you see I've spent a
thousand dollars and here's my analytiks
page let me refresh this to show that
I'm not doing anything weird and as you
see close to three thousand dollars if
you're looking at my conversion rate
you're kind of confused on how I'm still
driving profitability because it's only
one point five seven percent looking at
average order value ninety dollars so
that is where my profitability is coming
from the mid to high tiket products
that I'm selling right now so let's go
back over to the ad account and get into
the strategy of how to launch a test CVO
campaign and then duplicate that into a
purchase objective CBO campaign so this
entire ad account has only utilized CBO
I I just I actually created this store
and this ad account specifically to make
this video and it's working well so I'm
gonna keep rolling with it so up on the
screen right now we have my iPad
actually and I wrote this out so you
guys could take a quick screenshot if
you want to and just you know have
something to look at when you're
building out your campaigns and I'm
gonna go through these really quickly
just Inc provide any clarity that might
be needed so when you're testing you're
gonna use your identified non purchase
objective if you haven't watched my
previous video you need to do that
before doing any of this to understand
why I mean not using the purchase
objective so go watch that it's gonna be
one of the first links in the
description watch that and come back
once you have that identified you're
gonna create your CBO campaign your
budget is gonna be twenty dollars times
the number of ad sets you have that
you're gonna test with you're gonna set
a minimum spend and this is crucial when
testing so I'll break that down and I'll
actually show you how to do that in
Facebook Ads you're gonna wait two to
three days
analyze the data then you're gonna
duplicate that into a launch CVO
campaign with the purchase objective now
you're gonna have the number of assets
times $50 as your budget you're gonna
set a minimum spent for the first three
days then you're gonna shut it off and
I'll explain why and then you're gonna
wait the first three days out you're
gonna analyze the data and you're gonna
either scale or kill at that point so
you know take a picture of this and use
it when you're creating your campaigns
now let's actually get into Facebook and
show you guys what I'm doing to actually
set these up so this campaign right here
is the very first testing campaign that
I launched so let's go ahead and take a
look at this so as you see I had one two
three four I had five audiences in here
five had sets and if you look at the
campaign you will see that I had a daily
budget of a hundred and if I come back
into the ad set portion I select all of
them I hit edit I'm using the initiate
checkout conversion event I have a
one-day click conversion window and if
you come down to the ad sets spend
limits I have a daily minimum of ten and
here's why so if I take 100 divided by 5
divided by 2 that gives me 10 so 100 is
my budget my total budget I divide it by
the number of ad sets and then I divide
that by 2 and this provides like a equal
amount of data so the reason I didn't
initially like CBO is because you
couldn't control how much it was
spending per ad set whereas ad set level
you know you're gonna get data for every
single audience where CBO could pick one
audience and only spend on that one for
the entire day so I'm a big follower of
Depeche Mode dahlia and this is what he
recommends to do is this amount for the
minimum daily minimum so I used it and
it works good for me so I can you know
recommend that to you so ten dollar
daily minimum but use this formula here
so budget divided by a number of ad sets
divided by two and you know you can you
can adjust this but it works for me so
daily minimum I set it to ten for every
single one so every single I was gonna
spend a minimum of ten dollars so what
was cool here is I didn't actually have
to wait the full three day
like I mentioned wait two to three days
you know let it go but by the time I
spent fifty dollars a head showing me
what audiences were gonna perform and
this is the power of not using the
purchase objective so if you haven't go
watch that video first and you'll
understand everything about this this
specific interest testing campaign right
here so then I waited those days out I
analyzed the data I saw you know that a
couple these audiences were performing
really well this one was getting a
really good cost per initiate check out
this one was getting a decent cost for
an ACA check out but this one really
stood out because it had a amazing link
click-through rate and even better
overall click-through rate it also had a
good CPM and a very good cost per click
so when I was looking at this and I was
already at the initiate checkout portion
of the funnel I knew it would translate
well so this is how I built my testing
campaign I launched five ad sets I
usually launch more I launched like
seven to ten I let the data run for two
to three days I analyzed it and then I
picked the winners so I picked this one
just because the link click-through rate
was amazing and then I picked this one
because once again the link
click-through rate was really good great
CPM and a very good cost per initiate
checkout that's how I identify my
winning audiences from testing so I've
I've done my testing and now I'm ready
to actually invest some real ad spend
into these and try to generate some
purchases alright so what you're gonna
do is you're gonna create a new campaign
so we can duplicate these winning
audiences into that and start driving
purchases so go ahead and hit create go
ahead and create a new campaign I'm
gonna name it first person the first
portion of the funnel so zero one I like
label and one through four depending on
where the customer is in the you know
marketing funnel it's gonna be cold
traffic it's gonna be a CVO campaign
it's gonna be interests let me I usually
put like testing or this is gonna be a
launch though so I'm launching these
their interests and let's say I'm you
know like let's pretend that these
audiences are for headphones so I'm
gonna actually label this headphones
just to make this clear
campaign objective we are going for
conversions we're gonna turn on CBO go
ahead and skip your ad set and your ad
because we're gonna duplicate it so go
ahead and save it to draft hit publish
go back into your testing campaign
identify those ones that you you know
you realized are winners
select them hit duplicate existing
campaign and then we're gonna find that
headphone a campaign and hit duplicate
okay so this way you need to follow
along fairly closely so we're gonna come
down here we're gonna change our
conversion event to purchase I'm still
gonna leave it on the one day click just
because it's not that high price of a
tiket where it might take seven days
for someone to make a purchase I'm gonna
leave that $10 minimum ad spend limit
and remember I mentioned leaving this on
for three days leave the targeting that
I use in testing
I'm not scaling it so I'm still going to
be using newsfeed and Instagram feed
once I start scaling I might branch out
to automatik placements
it published come back up to the main
campaign tab and let's say you found
like for winning audiences I would do
fifty dollars times four so that would
be 200 in this case I found two winning
audiences so I'm just going to leave
this at a hundred dollars since fifty
times two is 100 go ahead and hit
publish and your campaign is ready to go
so you might be saying okay that's cool
you can show me how to set it up but how
do I know it actually works so I'm gonna
pull up those audiences side by side and
show you the difference okay so I
filtered it by selection in you can see
the results
clears day here so right here we have
this audience that I used for testing
the one that was gonna be $13 or the one
that was gonna be six dollars so the one
that was giving me 13 dollars cost per
initiated check out essentially just
duplicated 226 dollar cost per purchase
and remember I do have a higher tiket
price item so I'm still making a great
profit this is generating a 3.0 return
on ad spend and it didn't track some of
it so it's even higher than three so
this one is a six dollar cost per
initiated checkout and this is how its
performing a two point three eight
return on ad spend $37 cost per purchase
but once again my average order value is
$90 so this is still driving really good
profitability for me but you can see
duplicating these resulted in very
similar statistiks with the purchase
objective utilizing CBO testing and CBO
launch strategies so here we had the one
that had a 7.9 four had a four point six
five six point six to two point five
zero so we're still seeing the
similarities between the testing and the
launch since I launched that initial CBO
testing strategy I've duplicated this
method I've tested some more audiences
and check out what I've identified so we
have audiences generating four point
four or four point five three point nine
two and overall I've spent 905 and let
me actually check out oh well yeah I've
generated close to three thousand
revenue you already saw that so this is
how I'm doing my CBO testing and CBO
launch strategies there's a lot of
different methods out there but this is
the one that I've solidified works I've
tried other ones and they've just been
inconsistent there's
really no basis to why you're making
these decisions so this is what I'm
gonna be rolling with as I go along and
I hope this explained like my
methodology behind why I do my campaigns
like this specifically for CBO I know a
lot of you are gonna have questions so
make sure to leave me comments with any
questions I'll answer all of them
I'll also be answering all of the
questions related to this video and a
live Q&A in my Facebook group link in
the description if you haven't joined
make sure to join tune-up in on the live
Q&A I'll do it probably sometime next
week
I'll announce it like a day before I do
it so everyone can get in there and
we'll tok about it we'll see how your
results are performing and I can help
you guys out thank you guys so much for
watching I really hope that this brought
clarity to my CBO testing strategy and
helps you if you having it drop a like
on the video subscribe and notifications
on because I drop a video just like this
two times per week or more and I'll see
you in the next video guys Dillon out if
you're looking for something to watch
next I highly recommend one of the two
videos up on the screen
they were hand-picked by myself so check
them out highly highly recommend them if
you're interested in facebook as andy
calm

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