Test new ideas you have, sign up for spy tools to find out what runs in what niche, should give you plenty of angle ideas.
To understand advanced strategies it's mostly a matter of testing things yourself.
Step 1. get a campaign profitable with basic strategies, just experiment with new unique angles. Remember the best marketers mostly have unique angles, not some insane strategy, these strategies are mostly used to scale. Once your budgets are over $1000/day a simple interest-based audience often isn't enough.
Step 2.
Start new targeting methods, here are some I mostly use:
- LLA's 1,3,5,10% based on conversions
- LLA's 1,3,5,10% based on website visitors
- LLA's 1,3,5,10% based on view percentage of 75% and 95% (Most tests show 75% works better than 95%)
- Retarget campaigns based on view percentages (75% & 95%)
- Retarget website visitors (quite basic, but it's a good way of getting conversions.
Tip: work with CBO campaigns, generally easier to scale and FB will force it down our throats soon.
Edit: Put each of these in their own CBO with 4 to 5 adsets.
Tip 2: Kill losing adsets, Scale winning adsets. (dupe, dupe, dupe - A adset that absolutely kills it can be placed into it's own CBO with 5 of it's duplicates)
Step 3.
Cost reduction strategies:
Now you should be spending plenty, at least $1000-5000 per day.
In order to reduce the CPA we can use rather simple strategies where we change our optimization from Lowest Cost to Cost Cap.
You have plenty of data and know what your average CPA is.
Let's say you are getting $100 CPA right now - build a new CBO and set up 5 adsets with these cost caps:
$80,$60,$40,$20,$10
Yeah these $10, $20 cost cap adsets will not spend a lot but they do give you additional conversions are 10, 20% of your average - pulling down the average quite a lot.
That's just one example of how you can reduce costs, experiment with all the features FB offers.
I hope this gives you a generally idea of what type of advanced strategies are out there - let me know if you have any questions.
Damn this coffee makes me type too much.