Hey everyone. Tomorrow I will hopefully be ready to start testing out different dropshipping products using Facebook and hopefully Tik Tok ads and seeing how they go.
I plan on starting pretty small to experiment a bit with the different metrics that come back to me and seeing which ads are doing well (if any) before spending more money on them and trying to hit it big with my products.
The fear that I have is that there are so many different ads out there already that it may be tough to compete financially within the niches I am choosing. It may lead to a lot of optimization over a decent period of time which will inevitably lead to some short term losses as I try to find what works best.
The Metrics That Matter
Here are some metrics that really reflect how your Facebook ads are performing:
These metrics include:
- Ad impressions
- Relevance score
- Geographical location
- Audience demographic
- Cost per Result
- Video views and Video percentage watched
- Result rate
- Click-through rate
- Cost per Conversion
- Conversion rate
- Return on Ad Spend (ROAS)
So by tracking how your ads are performing using these metrics, you get a good idea of how much money you are getting in return for your ad spend along with where ads are finding success and the demographics that you are finding the most conversions with.
I am a complete beginner when it comes to this, so it will be interesting to me to see how long it takes to find some ads that are performing optimally.
I am going into this ok with failing because I truly don't have much of an idea what I'm doing beyond what I've watched in some Youtube videos. In the past I have become discouraged when not immediately finding success, so this will be a challenge, but I really do think that digital marketing and sales are the future and that dropshipping and other ecommerce businesses are set to thrive in the years ahead.
Let's hope I can see some profits and some decent performing ads in the next couple of weeks!
Thanks for reading.
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My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.