Before you even create your first FB campaign, you need to work on your mentality. Forget everything you learned from Google adwords. And let your mind get ideas of 'Likes' not 'keyword'. Some practical differentiation:
LIKE vs Keywords
> Keywords are what people search for BUT Likes are one people already like and interested to know/learn more about it (that's why they 'like' your fanpage to get updated)
> Keywords are "Cooking" "Cook Books" however same people will LIKE "I love cooking", "I love sewing" etc. In your campaign, under 'Like and Interest' column, you can start with "I love (Niche)". If you are not satisfied with the number of audience then use "I Like (Niche)", so what ever people you get are exact people who 'like' your niche and thus highly targeted.
Some further practical tips:
> Country: Only select one country in one ad campaign. Split test same ad with different country.
> GENDER: Go to quantcast.com and enter your keyword to see demographics. From my experience "Offer" such as CPA's are either targeted to Man or Women. If you are targeting both, you will get irrelevant 'views' this higher CPC (I am talking about using CPM model)
> Age: Again, from my experience go for 20+ if you are promoting FREE CPA offers such as email/zip submits or music/celebrity offer however if they need to put there credit card out (for clickbank or trial offers) the target 25-50 in age, as over 50 people are kind of "not okay" with putting out credit card on compter
> GOLDEN RULE: There is an option called "Target on there Birthday", this option alone can get you $0.02/click if used smartly. Like you can place you ad
Title: "Happy Birthday!"
Body: I know its your birthday, here's a free gift for you! This will make your day!
Image: a cute baby pic with birthday cap (only face with border)
> EDUCATION: I have seen people generally not talking about this particular field. However let me tell you, in my test i have found that "Credit Card" offers (where user need to enter credit card number) works out best when you select "College Grad".
> Workplaces : This is another golden target if used properly. Sample ad:
Ad Headline: Working in Microsoft?
Content: I can feel the work pressure. Why not meet new singles in your area? Click here to know how!
Image: Some geek picture with blurred microsoft logo
URL: Any dating offer (good if you can link to female profile directly, if you have selected "Interested in Men" from another option)
I just want to say that you need to create 10 ads for one offer, like in one ad change picture, in another one, change headline, in next one change content, in next one, change age range or sex etc
From "Pricing", i recommend for for "CPM" model, and keep your bid $0.05+ then the show amount, test with 100k impressions and check your CTR. If you are getting ample clicks and satisfied with CPC it shows (based on your conversion) then simply go for same campaign in DIFFERENT country to scale it.
Also, i am sharing something that i DO. all practicle. I wont offer you some "Get Fbadsfree" course here. Its for my lovely warriors. Use it!
And do i qualify to share this information?
From one of my campaign, you decide: