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Case Study – Madgicx Prospecting Lookalikes.

DimNiko - Madgix Prospect Lookalike Strategy

Hi Folks, Ago here from DimNiko.

I am going to share with you today a prospecting campaigns strategy I was testing for the past one month. It was a struggle and success at the same time.

I’ve been testing it on two different brands, however the results were similarly successful. As I always mention unfortunately there is no template work on FB, strategies are constantly changing, what works today in week or month time can be “out of order”.

The Problem

For obvious reasons I can’t share the brands but I can say that they are in a completely different niche. Both Ad Accounts had very high CPAs for weeks despite the fact I tried different bidding strategies using previously good performing lookalike + interests mixed with best performing ads.

I tried using single ad sets vs lookalike stack from the same % and also combined them with interest, but no success CPAs were not dropping. Worth to mention this accounts were working well before based on this audience. 

Building the Strategy

At this point I jumped into our Madgicx Agency Account and I created acquisition campaigns using the prospecting lookalikes  feature. One of the seed audiences that worked and I’ll take as example it’s the “Niche Lookalikes” .

This can be divided into 3 groups:
a) Niche prospecting from Top Urls
b) Hight intent Niche Prospecting from Top URLs
c) Purchase  Niche Prospecting from Top Urls. 

Note that each group will be a separate campaign.

Read More: BOF Strategy For Existing Campaigns

How to Build the Ad Sets

Now when creating the ad sets you have the option to create from 0 to 20% and this is where the fun starts.

I created all the percentages individually 0 to 1%, 1% to 2%, 2% to 3% and so on up to 20% and then I also created 2 very broad lookalikes 0 to 10% and 10% to 20%.  You will have 22 ad sets in a campaign.

Note that if the audience size is smaller take a higher chunk like 0 to 2% or 3%. I set up all 3 campaigns with the same strategy and set a daily budget of the CPA x 2 in a CBO. 

On the creative level I picked the best performing ads, but you can do different variations here trying one or mix and match best performers or ad new ones. 

I barely touched the campaigns for 5-6 days and I found 4-5-6 winning ad sets and at this point I paused all the others, which didn’t get traffic or spent very little. 

The paused ad sets I duped it in a new campaign and used the budget as mentioned above, and after several days I found winning ad sets here as well and all the others I paused.

The campaigns with the winning ad sets I started scaling from the 4th day, increasing budgets once or several times a day depending on the performance, about 20%.

Read More: How Facebook Split Testing Works

The importance of not scaling aggressively the campaigns is to have a steady performance and not send back the campaigns into the learning phase. 

If you are out of ideas of what kind of audiences to run or hit “plateau”  with the current ones it’s a great tool to try. In case you’ll test the strategy, let us know the results

Also, if you are spending over $500 a day and want to scale your brand.

Book a call below:
>>https://dimniko.com/msp-apply

Have a Great Day!

Ago,

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