CPMs going crazy!

I don't know if it's relevant to you, I target high-net worth customers, and large business owners. My CPM averages as $56, but has go up to $115, or down to $30.
Damn
 
Both, good CPM and good CTR. $8 is expensive, I'm paying $3 in other account. Try new creatives till you get lower CPM.
By new creatives you mean : New ad copies ?
and i have ad copy that reached 1000 Likes does it affect the performance ? should i use new ad copy ?
 
and i have ad copy that reached 1000 Likes does it affect the performance ? should i use new ad copy ?
Here is the advertising effectiveness over time. As you can see, the longer you stay with 1 ad, the less recall you get per $ spent. If your copy is running for a while, it might help to change it up slightly.

Ad-effectiveness-curve-time-weeks-Copy.png
 
Here is the advertising effectiveness over time. As you can see, the longer you stay with 1 ad, the less recall you get per $ spent. If your copy is running for a while, it might help to change it up slightly.

Ad-effectiveness-curve-time-weeks-Copy.png
thanks for the details, i have been running this ad for 2 months now, so what do you suggest to change ?
 
so what do you suggest to change ?
You don't have to change anything if you don't want to/ if it's working for you/ if you're scared it will mess with your results.
Based on the research, it's best to change the ad copy or visual every once in a while, without changing the core message.
 
So I was coming into this forum to see if there was a post like this or similar... if not, the plan was to start a topic.

I'm far from an SEO specialist in terms of being hands, but I do work with businesses on digital strategy, both digital first brands... as well as corporate businesses that are going or trying to go through a digital transformation..

So one of the discussion points recently was that COVID has brought forward digital transformation by 2 years.. an aspect of which is advertising, so more and more brands and traditional businesses are looking at how they can leverage social media to drive / make up for lost revenue. Standard first stop, since it's the platform everyone is most familiar with = FB and FB Ads..

I was wondering how that adoption has affected pricing... if more are going in anf fighting for the same online real estate, then surely CPM goes up

Not an expert on this by any means and maybe doesn't apply in this thread... but definitely was curious to see if anyone was experiencing the financial effect as more brands shift online.
 
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