How to Test a Facebook Ad Against the Big Winners

The insight here is that instead of testing a new ad separately, it is more effective to test it directly against the big winners. By doing this, you can save time and cut down on the testing period. It is also important to consider the opportunity costs and the cashflow implications of testing campaigns. Additionally, relying solely on Facebook for revenue can be risky, as Facebook should be seen as an amplification device for your business model. The focus should be on monetizing the attention gained from Facebook ads in the most effective way. When it comes to testing, it may be more beneficial to throw someone directly into the campaign and see if they can generate conversions, rather than going through a separate testing process. If an ad does not earn spend and meet the business objectives, it is a liability. It is important to assess whether a new ad can compete with the current successful ads before including it in the campaign. The analogy of a wide receiver in football is used to explain that an ad gets targeted not only because it is good, but because Facebook prefers to show it more often. Facebook acts as the quarterback, throwing more impressions at ads that perform well and are cheaper.