On my last video, I discussed my concern that advertisers will use Value Rules when they aren’t necessary. So, let’s discuss a plan for figuring out when to use them.
Here’s the thought process I recommend for approaching this…
Who Are Your Ideal Customers?
First, look at your customer data to understand who your most valuable customers are. Look beyond the lead and even the first purchase. Who are the customers with the highest lifetime value? Can you group them by age range, gender, location, or mobile operating system?
If you’re able to define this group, it doesn’t mean that you should create and apply a Value Rule for it. There’s another important element.
How is Meta Spending Your Money?
This is the critical step. Look at how Meta is spending your money. Use the breakdowns by age, gender, and location to uncover this information.
Is enough budget going to people in these groups? Is too much money spent on people you’ve determined to be low value?
Solve a Problem
Create and apply Value Rules when there’s a problem to be solved with budget distribution. Increase the bid on your most valuable audience or lower the bid on the least valuable group.
Your approach to applying Value Rules should be similar to your decisions related to making other customizations, like choosing whether or not to use Advantage+ Audience. You should use Advantage+ Audience by default, but turn it off to solve a specific problem.
I’ll provide a real-world example of how I might use this in my next video.
The post When to Use Value Rules appeared first on Jon Loomer Digital.
