First, before I create my ad or even think of it I look at my competators and what their ads look like. If it is working why not use it myself and make it better? As Picasso said, "Good artists copy Great artists steal". So the way I do this is I go to my competators page and on the left side menu, at the bottom it should say ads. I click this and if they are running ads it will show their ads, if the ad has tons of views for instance over 1 million and has tons of engagements I know it is working. A marketer won't pay for an ad if it is not converting.
Now that I have an idea I start creating my ads. First you have to pick an objective, do you want engagement? Traffic? Leads? Whatever you want choose the correct one. Do not choos conversions yet I will get to that in a second. Engagement ads are for shares, likes and comments. Traffic is to get traffic to your site and leads are for collecting emails for marketing.
*Note- Before running your ad make sure your facebook tracking pixel is set up, it is so so important so do not forget.
Now that I have chosen the objective it is time for the fun bit, targeting. For the region I usually choose worldwide for e-commerce businesses and for local businesses I target based on where they are. You can target specific towns etc. Make sure at the top where it says "Everyone in this location" you choose the correct one. Don't make it difficult, if it is a local business then choose "People who live in this area" if you are a travel agency "People traveling to this area" etc.
Now for interests, for this I open a new tab and use audience insights to find interests. I type in some of my competators and go to "pages" and scroll to the bottom. It will show all of the relevant pages their fans like and how likely they are to like conent based on that page this is shown by "affinity score". Over 60% is great. Now I enter the pages into the interests, but don't put them all in to the same ad. For best results and to be able to test choose around 10 interests and make an ad for each interest. So that means you should have 10 total ads (or as many as you can afford) with the same ad copy just different interests. You will see why in a bit. What I usually do is skip the interests until later it will make it way easier to create the ad and duplicate it and just add the interests in.
Now for the ad itself this is where more testing comes in, test different pictures, ad copy etc. For pictures the best ones are ones with peoples smiling faces. They always convert the best.
*Note- When testing ad copy and pictures test one thing at a time for instance test the ad copy only, once you find a good converting ad copy then test the picture and so on. Dont test the ad copy until after these next steps.
Once your ads are created you should have 10 this is when you look at what is working and what is not. I run all 10 ads for $5 a day for 48 hours, after 48 hours I stop the ones that not performing as well and keep the ones performing the best. You can tell by conversions, engagements, leads and overall score of the ad. Once I have the ones performing the best I micro test them.
Micro testing is basically when your testing comes in, testing ad copy, genders, age, mobile vs desktop and so on. I start with one at a time I look at the statistics on my ads I duplicate the ad and test one thing for instance if I notice instagram is performing better than facebook I will make the duplicated ad only target people on instagram. I keep testing until I find the perfect ad set. Test like you are a mad scientist trying to figure every little detail out.
Once you have a few ad sets that are working well create a new lookalike audience campaign. This is why I said you need a pixel. Think of the beginning as you are testing ads and growing your pixel. Create a lookalike audience and make the objective "conversion" and look at your best performing adset from before and make your conversion ad exactly like it. That's why I said wait for conversion, this is because conversion ads cost more and you will get more results if you tests everything that works the best before hand. Using this method will explode your conversions.
*Note- When creating lookalike audiences you need to create an ad for each audience size (1-10) to see which performs the best for you. I usually do it right away and make 10 ads.
And that is literally what I do, of course you need money and if you do not have enough then you don't have to do as much all at once it may take longer but you will get the same results. This method is just the fastest way to get conversions, and remember when using Facebook ads if you go into it with the mindset of testing every single thing then you will see conversions. Lastly, you have to be strict with your ads if they are not doing well cut them a lot of people make the mistake of letting them run for too long.
*Note- You can also do retargeting ads for people that you already showed your ad to or that have visited your site and not converted, there are many tutorials on retargeting.
I hope this helped some of you out! This is the exact method I use when helping businesses get more customers.