At Curaytor, we promote a simple model that can help you increase your ad performance without increasing your monthly budget.
We call it Doubling Down.
Let’s say, on average, you plan on promoting 4 pieces of content each month—a few promotions, a client success story, and maybe a how-to article.
For the sake of this post, let’s say you have a $500 budget.
Logic dictates that you’d spend $125 per promotion.
But you’d be missing a huge opportunity to increase the performance of your ads WITHOUT increasing your ad spend.
Here’s what I’d like you to do…
I want you to increase your ad spend by 100% per promotion and I want you to run that promotion for 3 days.
At the end of Day 1, make the decision to either stop the ad (thus only spending about 67% of your initial budget) or let the ad continue and spend 100% more than your average budget.
The decision is based on the performance of the ad.
If it’s underperforming your typical ad, then stop it. Save your money. Cut your losses.
But if it’s outperforming your typical promotion, don’t pause the ad. Instead, spend a larger portion of your ad budget. Double down.
As you can see with the model below, the Double Down strategy can have an immediate and dramatic effect on your results:
That’s a 49% increase in total clicks to your website with virtually the same budget and the same ads.
From a timing perspective, you want to have enough historical ad data under your belt before you start playing around with revising your budget midway through an ad.
Inexperienced marketers run an ad, wait until the budget is complete, then perform a postmortem to see what worked.
It’s far more effective to adjust an ad while it’s still running to take full advantage of the opportunity to save money and increase performance.
With Facebook Ads, you simply cannot spend your way to success. You have to become a tactician, learning from every ad campaign, looking for trends, constantly improving.