We Spent $465,000 on Meta This Month. Here's What Worked and Didn't.
How we navigated a tough month on Meta- wins, losses and lessons we learned
This was a pretty hard month for us over here. We were coming off a red hot record month last month, record revenue, spend and efficiency and the plan was to ride the up again. That did not happen.
There was apparently some big Meta update rolling out that is intended to reduce self-competition in the auction. Rok Hladnik posted the email the Meta Rep here, stating how they expected it to reduce spend but overall help CPA and ROAS as the update got pushed. We will see if the update works as intended over these next few weeks…
Needless to say, we certainly felt the reduced spend aspect of it. Look at our chart below for daily spend, we really started to feel it towards the end of the month. Pair this update with typical end-of-quarter budget dumps, and it was a tough last 10 days for us.
CAC wasn’t impacted nearly as much as our spend. Looking at this spend chart, you’d think we’d be posting a -10% month - but luckily it was only -2% for us (we had forecasted to try to hit +3%.
But ultimately, we survived, still found some wins and learned a bunch through some things that didn’t work. Here are a few things that worked and few things that didn’t work: