You have already learned the importance of splitting up your ad sets in order to be able to optimize your ad spend (go here if you haven’t read it already). What we want to explain now is how you should be viewing your data.
Let’s assume that you have launched a campaign to target males and females, ages 20-60. This means that hopefully you have divided your campaign up into the following ad sets.
Let's also assume that you have also used 3 images with the same ad text on each to create your ads.
You have two goals at this point (now that your campaign is running). First, you want to know which ads (image) perform best for each target segment (ad set), and second, you want to know this so that you can start to turn off the under performing ads and possibly re-create and re-launch your campaign with only the highest performing ads in each ad set.
If you have 8 sets and 3 images each, that is a total of 24 individual ads that you need to look at.
Here is the view of this from the Adgo dashboard, calculated and displayed to you in hourly increments for every campaign. (You can of course get this data manually by exporting the data from Facebook on the ad level and creating a pivot table broken down by gender, age, and ad and with the columns of metrics that you want to compare.)
From this screen, I can easily see each ad set (column) and the three ads (the rows) for each ad set. I can now quickly assess which ad is performing best in each ad set, or find the ad with the lowest performance.
Conveniently, you can actually also see which ad is performing best overall, the 2nd place and even the third place ad, conveniently colored as gold, silver, and bronze.
From this point, you can now go into the campaign and start turning off the lowest performing ad in each ad set, or better yet, re-create and re-launch your campaign with each ad set only having the top two or even just the top performing ad.
This may sound like a big hassle to do for every campaign, but the hard work definitely pays off in the long run, as each penny in your ad spend budget is precious. Luckily, this entire process is automated by Adgo for each campaign that is launched from the platform.