Ok, I am writing this based on what worked for me and my ads. Please take note that everyone has their own strategy and how they do run their ads in different method. This post is just to share how i do optimize my web conversion ads. I use FB ads mostly for retargeting my lost customers but sometimes i do run a PPE > WC ads. So this is my style. Please note i am writing this based on intl market. If you are doing local eCommerce ( Philippines ), This might be something different from what you do or know. Again, it's just my 2 cents.
Since there is no right or wrong way in running ads, this is how I do my facebook ads WC. A lot of people start straight with WC for purchase, I would say that is the wrong way to go, again some people will get lucky and get sales with it. Usually, website conversion will NEED data in order to optimize for your objective ( Purchase, Add to cart, view content). If you start off with WC without any pixel data, facebook will have a hard time optimizing for your WC objective.
From my experience on intl dropshipping, Blindly starting off with WC for purchase is like burning your money, if you do that you mine as well take a lighter and burn your money. You will need at least 15+ conversion a week for the objective you’re interested in order for Facebook to optimize it. If you start off with WC purchase and you have no purchase pixel tracked, facebook will have a really hard time finding customers and will charge you high amounts. In order to run WC for purchase, you will need at least 10+ purchase pixel tracked per week for facebook to optimize your WC. I believe this is where people mess up and get confused. Now here is the method.
PPE to WC Method
Step 1 : I typically Collect data in order for WC to optimize. I would start off with PPE to get data because it’s way cheaper and you will get people engaging with your ad. This is basically called testing. You run a PPE ad at $5/day and then for 5 days then read your metrics. According to what i have learnt, You always need to test and i believe $25 is enough for testing a product. That is what i do before i drop the item.
Step 2 : Start a WC objective based on your data. If you do not have any purchase pixel tracked, I would start off with WC “view content” - I know some of you skip this, or “add-to-cart” ( ATC ) until you get at least 10+ purchase pixel tracked. If you have no purchase pixel tracked, you want to start off with “view content” or ” Add-to-cart” because it will collect more data. If someone views your content pixel, that will have a chance of them adding to cart. Collect “add-to-cart” data from “view content” WC. Once you get 10+ Add-to-cart per week, create WC for “add-to-cart”.Once your “add-to-cart” WC gets you 10+ purchases a week, create a WC for purchase. This is how I generally how i do my website conversion ads
Step 3 : Target WC based on your winning age/gender by looking at your data. Once you get about 250+ purchases, you may create LLA 1% to scale your WC bigger. Remember, You should know your numbers! You should know how to read your data!
Step 4 : Once your lookalike audience dies down, you can target different country like : Canada, AU, United Kingdom, New Zealand, and etc. You will repeat Step 2 to step 3 with the new country.
In summary of what i just said:
1.PPE > 2.WC (view content) > 3.WC (add to cart) > 4.WC (purchase) > 5. WC LLA ( 1% ) > 6. Switch To Different Country ( When item died down )
Normally a product will die down after some time but don't be scared, thats business. Just create LLA once you have about 200+ purchases pixel tracked. If your ad starts to die off, target different country.
My Little Advice:
Do not be afraid to spend your money on ads, you may burn a few hundred to test and get data. But once you find your winner you will make 3-10x back making up for your money lost in testing. Never stop learning. We always learn!