Generate new leads, showcase products, and drive sales.
Set and define your advertising goals. Start with a max allowable cost per lead or sale, to set an advertising budget threshold.
How much are you willing to pay to acquire a customer or lead? If you aren’t sure of either one, set a cost per lead first. This will work in conjunction with the Customer Lifetime Value.
However, it’s much more important to know the velocity of return. A best practice is to measure what a customer is worth at Day 0, 30, and 90. For example, it could take years for a customer to mature into their full LTV.
Depending on your business type, you’ll want to set up your campaigns to optimize for what you want more of–such as brand awareness, link clicks, video views, or purchases. Set up proper conversion tracking using the Facebook Pixel to optimize the algorithm for more conversion events.
Experiment with different campaign types like video ads, Stories ads, carousel ads, and feed ads to see what works the best.
Decide the format that most resonates with your target audience.
You can take a longer video and repurpose it in several ways for Instagram. For example, a long video can be uploaded as an IGTV video, cut shorter for a video as a post, or cut even shorter and used as separate Story uploads.
What post types are getting the best click-through rates and engagement? Those will be the ones to run as ads. Test different types of videos and add tracking URLs (UTMs). You can look in your Google Analytics at which video click gets the most leads or sales. This will dictate which campaigns are the most profitable or continued advertising plans.
This could be too short based on your business or sales cycle. Typically, 90 days is long enough to understanding if this will be profitable or not.