FACEBOOK: brought back ad set budgeting (looks like this is here to stay)
FACEBOOK: CPCs lower due to less ad competition
FACEBOOK: may get more ad rejections than usual because of increased automated bot sensitivity, especially in romance
OTHER: Barnes & Noble having financial trouble due to the pandemic
TIP OF THE MONTH: the math behind 80/20 matters. 20% of your ads will be great. 20% of your series will perform well. Can increase your hit rate (practicing ads, writing craft), but never 100%. Harder to hit with a series than ad. Double down on winners.
Also, 64/4 rule: 1 in 25 ads/series are going to be absolute monsters. This is why breakouts are so rare. But don’t need these to survive; just need to focus on your 1 in 5 hits, which will come if you stick around this business long enough. Trick is to actually work on them, rather than let them die while trying to revive garbage.
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