The Hardest Part Of Using Cost Caps (And How To Solve It) transcript

there is no time of year where it is more important to be buying media on Facebook ads with cost controls it's bid caps cost caps tros campaigns there's values to each one of those different versions of it I'm not so worried about the details of which is which which one you should be using right now I got lots of other content about that instead want to focus in on the reality that if you are not buying with manual bids in this coming holiday moment you are going to be leaving a lot of money on the table and probably over and under spending significantly there's just huge value to be gained and that's for a couple of reasons the basic promise of cost controls on Facebook ads is you are going to suppress your worst ad spend proactively and therefore not waste money and you are also going to scale your best ad spend proactively and so you will go and make the most out of big moments without over or under spending I remember the old days of running Facebook ads on Black Friday and it was sort of this like terrifying and ult proposition because you you'd wake up at 5: in the morning 6 in the morning whatever I'm on the west coast so by 6 in the morning you know it's already 9:00 on the East Coast it's Black Friday I would get into the office by 6 and start looking at accounts and immediately the flood of data is coming at me as a media buyer and I'm going like oh this brand is doing great this brand is doing poorly what adjustments am I GNA make and it's you know uh gets to seven o'clock and you're like okay I'm going to double my budget here and I'm going to drop budget there and I'm overspending here and I'm underspending then by the end of the day you kind of look at everything and you stand in the dust of a very busy day on Black Friday and go like did it work like did we make money should we have spent more should we have spent less and you're just always stuck with this very tricky thing the idea that something could handle the budget and spend increases and decreases proactively for you is incredible it is it is so freeing and on top of the fact that it like feels emotionally freeing it's like uh it's like way more efficient right I mean just every Black Friday I ever did no matter how good of a job I did I would end up over or under spending in a bunch of different ways so it it was this like real Challenge and and in these moments and of course like the holiday moments bigger than Black Friday it's bigger than Cyber Monday as much as those two are the biggest days in that time period like you know a lot of brands are having a very very big December a very very big uh even November leading leading into that like there's just there's just really important uh moments here and in in a lot of ways of course they're making or breaking their year based off of how you do then so maximizing that moment is really crucial responding to inventory changes right like if you're Black Friday is going especially well uh than uh than being able to sort of proactively say like o I want to take more efficiency on my ad spend uh is really really valuable you can imagine right let's say you've got a $100 bid cap on a campaign and and you're blowing through money your ads are performing great it's just the holiday moments looking awesome for you and you're realizing quickly you're going to run out of inventory on December 12th if you keep at this pace well the ability to say okay I'm going to drop my CAC Target from my bid cap right from $100 to $80 that's really valuable too right now you can say okay I'm going to take more marginal efficiency per unit sold and because there's no way to get more inventory here any sooner so I'm just gonna I'm just going to take more efficiency that can be really valuable so there's a lot of ways in which it's extremely useful to have those things but it's also hard and it's hard because there's one fundamental challenge related to exactly how the mechanics of the tool work that you need to understand if you're going to make this moment work okay and that is the concept of ecvr okay lowercase e capital CVR ecvr expected conversion rate is one of the two things that powers manual bids particularly uh lowest cost manual bids right so uh CAC optimized manual bids that's cost caps and bid caps tras campaigns also have an expected aov which is also a challenge but we'll kind of leave that on the side because it's not as big of a deal um in this case it's something that's a little bit easier I think to sort through if you think about um the notion of how bid caps and cost caps work you um you what you realize is there's these two things powering two calculations powering the machine learning that powers uh the way that cost cost caps and big caps respond like if you think about the basic setup here you you set a budget that's higher than your actual spend so let's say you're trying to spend you think you're going to spend five grand so maybe you set your budget at eight or 10 grand something like that okay um maybe you want to be really aggressive you set it at 15 or 20 that way you just make sure you have room in case everything goes incredible okay so so that's what you do and then within that budget right now the governor on your spend is not the budget that's not the you know the governor or the pacing mechanism on your spend when you're running manual bids the pacing mechanism becomes the bid cap or the cost cap or the trass target meta will only spend I mean there's still a budget constraint there but you're basically setting the budget in a spot to where it's not going to constrain the spend at all it you know if you took the cap or cost cap off uh it would spend way more than you're actually trying to spend and the idea there is you don't want the budget to be the thing that constrains your spend instead what you want to constrain your spend is your efficiency Target and so the bid cap or the cost cap is powered by these two things one of them is an expected click-through rate so as meta delivers your ads it has an expectation of how many people are going to click now the thing about expected clickthrough rate is that data piles up really fast you get you know let's say you're running a $10 or $20 CPM that means you get a thousand impress for 10 or 20 bucks okay and uh you're going to spend that 10 or 20 bucks really fast for for most brands listening to this uh especially on a day like Black Friday and so it meta has no trouble projecting from there forecasting and updating a forecast of how many of those impressions are going to result in clicks right um let's say you spend a hundred bucks well that and let's say you have a $20 CPM that's 5,000 Impressions that it can generate clicks off of and if suddenly you're getting a lot more or less clicks and is expected based on your ad and based on the placement and all those things meta can respond to that detail really really quickly and can forecast your future clickthrough rate the expected click-through rate really really easily so there's the actual clickthrough rate okay the clickr rate you're actually getting let's call it one let's call 1% let's take of easy math okay and then a for and then it met as forecast of your ongoing click through rate that's the expected click through rate so there's the actual click through rate the CTR and then the ectr the expected clickthrough rate and meta has to forecast that um in order to to know how much you're going to how much going to bid in the auction I love more Staffing you've heard me talk about more Staffing they are incredible and here is the simple reality you should be considering how to build your business for profit all the way through your p&l and that means thinking not only about your gross margin not only thinking about your ads been but thinking about your Opex and and trying to grow your business and scale your team without incurring too many costs there is an incredible solution to this and that is by finding incredible Talent like high-end serious professionals who can add a ton of value to your business in the Philippines and bringing them onto your business and more Staffing is the way to do that I at some point in my business now have worked with not only more Staffing but both of their sister companies a design specific design and video editing uh company and uh and a supply chain specific company for various businesses that I am working on okay and I have never had anything but a great experience with them I love them I was actually telling them just a couple days ago like I don't know where my business would be this year without my partnership with more Staffing I'm so thankful the ability to access incredibly high-end Talent pay them above Market in the Philippines get people who are hardworking motivated excited to be on the team and true members of my full team great English speakers all those things like to access that talent and have people help you recruit train coach onboard those people all those things it is just incredible and they'll even give you a one-ear guarantee so if you're looking to add talent in your business um and you're not sure if this is going to work out like just there's no risk to you like they're not going to charge you a uh a new uh cost if you have to replace that person with somebody else so um so it is uh a really awesome uh service that I'm so thankful for go to Mor staffing.com uh the link is in the show notes to get started today hiring virtual Professionals in the Philippines who are going to add a ton of value to your business and so uh so the expected click the is really easy for me to do because it's it's getting clicks all the time on very low amounts of spend and it's learning in real time it probably has a bunch of history on your ads the the click the rate is probably not changing that much over time also like as meta delivers your ad um it it whether it's Black Friday or not like the Click theough rate probably isn't changing quite as aggressively as the uh as the conversion rate and So Meta can learn in real real time and it's expected clickthrough rate uh calculation is really easy for it to calculate and to update in real time okay so no problems there but conversion rate is a big change think for a second about that mechanism okay uh meta has a cost of of delivering your ads okay and then it's going to have a cost per click VI which is a combination of the CPM and the CTR okay so the cost for delivering the ads then how many of those people click that that's the calculation that goes into cost for click and then to get a cost per conversion it needs to forecast how many of those clicks are going to uh convert and if it does that then the then the uh then that is going to be the conversion rate or as a the expected conversion rate okay so if meta is forecasting that expected conversion rate what happens how is meta supposed to learn and here's the fundamental challenge how is meta supposed to to calculate the expected conversion rate with bid caps and cost caps uh if uh the conversion rate in the future is going to be wildly different than it was in the past what does meta supposed to do about that so this is what happens on Black Friday right let's just say again for the sake of easy math your conversion rate is double what it usually is on Black Friday because your sale gets launched or whatever even if you launch your sale early right you just know black Friday's gonna have a massive conversion rate uh so uh so if that is what is going to happen and meta's uh machine learning in manual bids is powered by what happened in the past and that change in conversion rate happens all at once very suddenly then it's going to create a problem for you as a media buyer and really for for meta and its manual bids because the future is not like the past and that's the that's the core problem the future is not like the past if the conversion rate is going to be double today what it was yesterday then yesterday's data which is what's informing the expected conversion rate in in your manual bids then that uh that is going to create a real challenge because expecting conversion rate isn't right now the expect the expected conversion rate the ecvr is I'm going to say ecvr from now on I'm stumbling over the words expected conversion right the ecvr is uh updates so far as I can tell and and I think this is fairly clear relatively Slowly by meta and this is a wonderful thing um it seems to me that meta's expecting ecvr is um is regressing constantly and basically the idea is this right let's say you launch an ad and it's just a normal day right it's just like some random Wednesday and yesterday was Tuesday or whatever and suddenly on Wednesday yesterday you got a you got five purchases on that ad and nothing changed on your website in fact let's say over the last month you haven't had any sales or anything like that you got 500 purchases on that ad at a 2% conversion rate okay and then suddenly today right is Wednesday random day nothing changed on your website whatever you get 10 purchases on that ad for a 4% conversion rate and it all happens in the morning and and it looks like that ad is suddenly performing really really awesome and whereas before you were getting a $100 CAC today you know halfway through the day you're getting a $50 cck okay now human media buyers all do the same thing there which is they go we all say because of our biases and our whatever we all say scale it it's working extra awesome today is the day this ad is popping off meta found the Right audience finally or whatever and it's and you and you go and you raise the budget and you start responding really high because your conversion ratees double your CAC is half like you're just feeling awesome about that and you go the problem is those 10 purchases probably don't really tell you anything about a real change it's still a very small sample size and what that is is just luck it just happens to be that whereas over a larger sample you know meta would still average out to your ad would still average out to a 2% conversion rate it happened to hit 10 people who converted sort of all at once and there's no reason for it there's nothing different about today there's nothing different about the odd meta didn't find new people there's there's no explanation for it except for Rand the random distribution of events like this and understand that is really important because what meta does with that information is it says well hold on before we go update the ecvr the manual bid stays where it is regresses it to the larger data set that it has and assumes that nothing has actually changed until that ongoing conversion rate massively increases because maybe maybe you actually you know are sending that traffic to a new Lander and you ran a great split test with intelligence or you built you know you you took my advice and you're working with format and now you've added format Landers and it's going great like that that kind of thing has happened and and maybe you did maybe you are maybe there was a change is starting to convert more traffic well meta's going to respond to that slower because meta wants to see that that result is actually replicable over a larger data set over a larger data set before it starts scaling your ads really really fast and that is good okay this is what makes this is part of what makes manual bids so valuable actually is that it takes your bias for certain events out of the calculation so much and now instead of your bias going like yes ads are working I'm going to scale it where you then just go throw away money and drive $150 CAC for the rest of the day or $200 CAC because you overs scaled your ads which is what human media buyers do right instead meta is like I said going to regress it the ecvr maybe updates a little bit based on those 10 conversions but it doesn't update so much it needs more data before meta quote unquote the machine learning quote unquote believes the result okay so every one of us has done this right over over time at some point where you get too excited or you see a split test and you think your new result is winning whatever so um okay so uh that is really good that's really good but in the moment of a major promotion that is really bad uh and this is this is the challenge okay because on Black Friday that doubled conversion rate is real it is not small sample size noise it is because there is something that has changed and even though nothing has changed about the ad itself and you know you've launched a sale even in fact again even if you've previously launched the sale and it's been running for a little while nothing has changed there um uh otherwise well the sales change right but but basically meta doesn't know quote unquote that everything has changed and that it's not random small sample size noise that it's actually um a real result that is going to that is going to uh lock in faster so um so how do you handle that as a media buyer because you want to take advantage of the day you got 24 hours on Black Friday you want to get as much spend through as possible so so this a long-winded explanation but I want you to understand what the fun problem is um so that you can know how to handle it okay there are the first thing I'll say is one thing you can do here because meta is updating in real time is you can just set your manual bid uh to the number that you want and leave it and if meta is a little too slow to take uh to to scale your ads on Black Friday relative to the number that you want what is going to happen for you is that you're going to be much more profitable than you were on most days because your conversion rate is much higher and you you won't maximize your spend threshold but you'll be much more profitable than you were before and that is not such a bad outcome and it's it's also like a very low risk way to handle it So Meta will spend more that day but it's not going to spend as much as if you push really hard on the front end of this I think if if that is the outcome that you care most about is like profitability okay um and I think I think a lot of people should care more about this than they do right that is a really good way to go about taking this day you just take it as an extra profit day and yes you probably get more scale and from FR and you know meta's ecvr does update as the day goes on on Friday and then you should maintain a really high one on Saturday and on Sunday and then Monday you go big again like all of those things um Can Happen you can still have a really big weekend okay but but maybe just not as big uh as it could be if you had sort of forced or or push some budget a different way so that is one option here and I would recommend it to a lot of people it is a safe way to do it it is a way to not get yourself into too much trouble and I think that's fine okay so that's one thing you can do there is a second thing you can do if you are really concerned about maximizing the moment and you you're not as concerned about um if about the way this could go wrong okay and that is you aggressively and proactively change your bids in light of the reality that you you want meta to spend more aggressively than it otherwise would so let's say you're running a $100 bid cap okay what you could do if you think your uh ads are going to convert double today you look at your past data for a bunch of years they're going to convert double today what they normally do you could double your bid to $200 the day and what you could do to make as sure as possible that you don't blow a bunch of money is that you set your budget towards an upper end that you're pretty comfortable spending so let's say you think you're pretty sure based on your knowledge of your brand and your data and your adset that you can deploy 20 grand that day okay uh well let's make it 10 grand okay because just easier okay so let's say you think you can deploy 10 grand that day uh and pretty safely and let's say you normally would be deploying four grand but you're pretty sure you can get it to 10 okay well again we'll make the math easier five grand okay so so normally you'd be spending $5,000 a day you're very confident that you can spend 10 on Black Friday and you'd like to get through at least that much one thing you can do is set your budget to 10 grand so that you sort of make the constraint on the spend uh the budget for the day okay so that you don't overspend you double your bid cap okay in the morning and you watch meta start to spend and then a couple hours into the day you see Meta collecting conversions which means as it collects conversions it's going to update slowly but surely it's ecvr calculation and then what you can do from there if you want to is you can start to back off your uh bid cap little by little so you can go from 200 to 180 180 to 160 and see if you keep getting spend through because eventually meta will update in the front end of the sale it will update your ecvr so that your bid cap will be accurate right because what would happen at the beginning right if you launch a $200 bid cap okay if you launch a $200 bid cap and you uh uh and on that bid cap you start to get double the spend then your your actual con your actual uh CAC will come in at like $100 because because you're bidding as if your conversion rate is going to be twice what it is but meta doesn't know that so your uh if your conversion rate is double what meta expects then it's going to be double as aggressive at Double the CAC and then uh and then as you do that it's going to actually get closer to a $100 CAC I hope that makes sense the more that I have dug into format the more that I love it it is an incredible tool let me tell you a story about a brand that I'm working on right now where we realized we had a big opportunity to do something different than we've done before that we could probably not have done with nearly the rigor that we can now with Vermont so we are looking at working with an influencer who's excited to work with us loves our product the kind of person is a perfect fit for our brand um the problem is she's in a space that we haven't really really gone after in quite the ways that would make us feel super perfect about taking the deal and so what we realize is what we can do is instead of just saying like Okay we'll work with this influencer get some posts get some creative and then send it to our homepage and hope it sort of the experience is close enough instead we are using format to build a custom funnel for the influencer build a custom virtual product so we can actually sort of like create a like you know virtual like a fake product basically in forat and by fake product what I mean is take a Shopify product rename it rebundle it all those things without having to touch anything in Shopify and build a virtual bundle through a format Lander so that from ad creative with this influencer down through a specific landing page highlighting the things that this influencer and her audience care about talk about are engaged with all the time and then build a specific custom bundle essentially co-branded with her like at the click of a couple buttons no coding none of those kinds of things and my format account manager is actually going to be the one to build the whole bundle for me so it's not just a huge lift and workload for me on top of all that the landing pages are going to be the fastest loading landing pages you could possibly imagine it's not just going to be a landing page by the way like a landing page isn't that crazy it'll be a custom PDP with custom card up cells all the way through the funnel so that we can take our messaging with this influencer and instead of again sort of vaguely talking about something that may make sense for her customer build a really tight messaging funnel all the way through from click all the way through checkout that's going to be unique to this woman uh and to to her audience and to her customers and to what they care about and because the product actually does apply really well and deliver on promises to that customer it's going to be a great experience for the customer as well everybody's going to be happy it's going to be a smooth easy lift like this possibility this way of thinking about ads has opened up for me and my team all kinds of ideas about taking shots into getting the new audiences that previously we just weren't going to take because we didn't have the capabilities of building tight enough messaging to reach those audiences specifically in the ways that we wanted to I could do all of that with format and that is the way our spend is going to keep growing Since switching to format that brand has already uh increased our um ad spend by 50% we're doing all kinds of offer testing we'll do the same thing with this influencer think about offer testing uniquely in this funnel um and uh and we expected to keep growing by basically taking this Playbook and replaying it over and over and over again taking the customer who we're trying to talk to messaging them specifically doing all of it with the best landing page uh and funnel building software of which I am aware in the space both on the back end and on the front end customer experience really incredible if you're serious about expanding your messaging beyond your most basic audiences and getting really specific with specific customers you should be considering formont it is an unparalleled solution in the space go to formont commerce.com for formont commerce.com the links in the show notes check that out right now now the thing is as it gets a $100 CAC and you've told it you can spend up to $200 for a customer at some point the ecvr calculation is going to update meta is going to quote unquote realize that the conversion rate is higher than what you are forecasting or than what than what previously it was the ecvr Cal updates and it will start spending more aggressively if you tell it to do if you tell it you've got $200 uh met you've got $200 to spend per customer meta so go and spend it okay so now you got to back it down you got start backing it down till eventually it gets down to the actual now this is dangerous for an obvious reason okay and the obvious reason this is dangerous is that uh as meta updates ecvr it might start spending way more aggressively and if you need a $100 CAC and you tell it meta you can get $200 okay well then like meta might go up to 1501 175 all the way up to $200 and you could get beat up pretty bad in that moment and it can be really problematic okay the other mistake you can make here is that sometimes in these promotional moments your aov and margin is really different than what you forecasted so let's say your aov was $100 yesterday but you buildt a great offer that's driven towards aov and you calculate all the margins and today it's 150 okay well like it's hard to know that before it happens this is where launching your sale early can be really helpful by the way and so you have to pay very close attention to if you're B if you're bidding on a CAC basis you got to pay really close attention to your aov and your actual margin in the business to make sure um it's going well so okay so that is uh that is the way you can do this on the front end of that sale so you you start your cap your bid cap really aggressive okay um and then you back it off throughout the day until you get to your actual number and once you're at your actual number you probably can safely push your budget cap way back up okay but that game of the back and forth between using your budget and your bid or your budget and your or and your cost cap or your budget and your tros target as as various constraints is sort of the fundamental dance here like which one of those do you want to constrain your spend okay um because again let's say you are pretty confident you can spend 10 grand you could double your bid at that point and when you double your bid even if at that point meta is spending more aggressively than you want okay it's not going to spend crazy aggressively uh because there's only so much it can spend so if you're pretty confident you can get 10 grand out that can be a way to sort of hedge against the possibility of the ecvr updating faster than you realize uh to to the actual okay but this is hard this is a really hard thing and um and I think it's a real challenge like I I haven't um I'm going to probably talk about this with each of my clients and and make a suggestion to sort of how they want to handle this I definitely have some clients who like I don't want to risk it pocket the cash like just keep the keep the ca Target where it is if we don't spend as much on Black Friday as some other brands but we get a bunch of returning customer revenue and all that that's just fine like you know and I I think that's really logical in a lot of ways I think a lot of brands should go that route in that moment you're still you should still have an aggressive spend you should still have a great weekend you may not post a screenshot on Twitter but you're going to walk away with a whole bunch of money in your pocket and that's not such a bad outcome okay um so that's one way you can handle this um now and at some point by the way again especially if you're spending a lot of money per day um then this is less of a problem right if you if you're planning on spending $200,000 on Black Friday right you do not need to worry about anything I just said about ecvr updates because you're getting so much data and so many purchases so fast that the ecvr update is going to happen quickly and don't forget this is one of the values of running a low aov actually is that if you have a lower aov you get more purchases faster which updates an ecvr faster if you're running a high aov man you're getting less purchases and you have a lower spend it's more of a challenge and so that's another Dynamic you got to think about here which is if you're running a lower spend okay if you're running a lower spend then then you may not have as much time for meta to do this update if you're running a higher spend you probably can disregard a lot of what I said because meta is going to learn fast enough and and get enough purchases um that it's it's going to be uh just fine okay so so that's the um that's the basic idea but now we have another problem okay and and again by the way this once you get there then you can sort of run it through the weekend you may want to be a little bit more conservative Saturday and Sunday the usual way Black Friday satday Monday goes is that Saturday and Sunday have lower conversion than Friday and Monday Monday afternoon in particular Monday Monday evening in particular people get home from work they make their last purchases after work ends and the last few hours of Monday is when it really starts pumping um you're going to get some delayed purchases off of clicks you drove on Friday Saturday and Sunday so there's that calculation a bunch of little Dynamics here um but know which what you're trying to aim for know whether you want more profit or volume which one of those is more important for your business and where you're willing to Miss and then do your best within those constraints okay now that said there's another thing here okay um and this is true for every promotional Moment by the way everything I just said is true for every promotional moment if you launch a three-day sale for the weekend um it's the same exact dynamic if you have reason to believe that your conversion rate is going to go way up someday then like yeah you you absolutely can play that exact same game on you know Mother's Day or Father's Day or Labor Day or just whatever sale you're running like that that same Dynamic happens over and over again and as you do this more times you'll get better at it okay and kind of see how this works out in your business I wish I I could tell you exactly how many purchases meta needs to update the ecvr I don't know you know meta doesn't give us that data uh but but yeah that's the basic Dynamic okay but there's another Dynamic which is the same thing happens in reverse on the back end of a sale okay so Friday Saturday Sunday Monday let's say for Black Friday you know let's say you've got a 4% conversion rate when usually you'd have a 2% conversion rate all right great in that case um what happens on Tuesday after Cyber Monday even if you do sale extended or whatever right probably that conversion rate goes back down down to 3 or 2% and now all of your manual bid updates have gone the ecvr is now probably got enough purchase behavior in it to where it's thinking quote unquote thinking that you are going to uh have something like uh a 4% conversion rate so if you leave your high budget where it is the next day you actually can get yourself into trouble by drastically overspending uh because you're not going to convert as well and the ecvr is going to be wrong and so it's that same challenge so um so this is this is the same challenge but now in Reverse okay and once again I think the best way to handle this moment is to think about budget in uh as as a constraint to help you kind of get through this okay um I don't think there's a better way to handle this and I've gone back and forth on this a lot besides to just be more conservative with your budget in those moments again if especially if you're not getting spent now some of you ese you know this year side for Monday is December 2nd I think it is so like some of you are going to have one or two slower days but you'll after that go right into very high velocity days if you're a gift brand because you're still in sort of the peak season in the middle of December so this may not be as much of a dynamic here but again this will be the case for every sale you run so what should you do well what you should do in that moment I think is constrain your budget okay so if you're pretty sure that a $100,000 spend on Cyber Monday uh means that you're going to have a $20,000 spend on Tuesday the day after or whatever um or a $30,000 spend then one simple thing you do is just drop your budget okay so you can again also proactively drop your bid as well do just do the same thing in opposite if you're pretty sure your conversion rate is going to be you know 75% of what it was before then then turn your change your bid from 100 bucks to $75 um and at the same time take your budget and drop it down to 30 grand just make sure you don't get in trouble by overspending uh and monitor that closely each day the more you're spending each day the faster this will re-update and the more um that you can uh sort of trust your bidc cap over time well at least for me um typically I don't know how many purchases this takes but for like sort of a medium spending account somewhere around a couple hundred, uh maybe $100 aov somewhere around there I typically see this take s to 10 days worth of purchases as the as the drop off happens um but again depends on your volume and some of those things so but that same Dynamic is happening in reverse and the key is to just understand how this thing works which is you need to understand this ecvr mechanism and the fact that meta can only build its ecvr based off of past data and so if the past data is different if the past is different than the future datawise you may need to get involved a little bit more here so um those those are the fundamental challenges and that's the way I would do it just to recap what I what I said before especially the more you're spending the less you have to manually mess with these things but uh and it is dangerous to do some of the things that I was just saying I've seen people overspend and get beat up pretty bad moment of it's also going to have there's going to be some delays on the value that you're creating partly just like delayed reporting in the dashboard like your purchases are just aren't going to be showing up and so watch your Shopify dashboard separate from your meta ads dashboard sometimes your meta ads dashboard doesn't you know doesn't update how many purchases you're truly getting until you know a couple hours after the purchase Etc um so so there's all kinds of challenges here that make this really difficult watch closely on your Shopify don't overspend just make sure that you're not getting to a point where you're seeing you know your spend go one to one with your Revenue like that's almost for sure not how you want to build your business unless you're really crazy business um and so uh so those are all the things to watch in place and then of course as I said um you can always use budget as a way to constrain your spend if you need to and in all of this don't be afraid to just take some extra profit so I'm giving you these things as ways to approach uh this moment in a way that can hopefully maximize it but at the same time don't be afraid don't be afraid to just take extra profit in that day in a little less spend if you want to miss on that side that's perfectly fine so consider missing on that side um and and uh and seeing uh how you can just put a whole bunch of extra dollars in your pocket that day even if you don't have the biggest craziest moment ever all right I hope that's helpful to you so you can think through this moment hit me with your questions podcast ajg.com actually don't do that don't email me tweet at me publicly andrewj Ferris post on X tweet at me um and let's talk about it in public so we can um hash this out with other people this is probably the number one place manual bid media buying goes wrong it is in my view the very hardest thing about it so don't beat yourself up if you're sort of getting lost in some of the details replay this ask for clarifying questions let's talk about it publicly where people can get some help on it because it's a big deal um I've got some more stuff coming for you in the very near future on um some creative approach I've been really digging deep on my um creative strategy I'm going to have a whole bunch of stuff coming down that uh pipeline very soon we got some really good interviews too so um don't forget to subscribe wherever you're watching or listening go to ajg.com for everything I'm doing thanks so much to my sponsors as usual that's more Staffing and formont uh both of whom you should check out they are awesome um services and software thanks so much I'll talk to you next time [Music]