Just wanted to share a mistake i learned with FB ads. My store is fairly new and I spend around $15 a day on ads, with 3 ad sets ($5 ea.). I get orders here and there, but i used Daily budget, which i just realized is a newbie mistake for me. Once I switched to Lifetime, conversions increased by around 30%. I just realized how game changing the scheduling is for your ad to show up. I schedule my ads to show from 9AM - 1AM according to my audience's time zone. This is my theory why?
I get some traffic at 2-5 AM in the morning, but what are the likelihood of someone purchasing a product during that time? I mean, when I'm bored, I like to check out cool stuff online at 2AM, but the likelihood of me purchasing something is very low. We're most likely just there to "windowshop" or just check out something that caught our eyes, but later on take no action. I'm laying on my side on my bed, my wallet is 20 feet away from me and im tucked in my blanket ready to sleep. Not only that, but I'm very tired and when I decide to wait till tomorrow, i usually forget or find that product no longer necessary.
Now imagine if it's around 12PM, during lunch break or 3PM, in the middle of work or school. You're probably bored at work or at school, and you go to your phone here and there and every so often. You're more energetic, and you're more likely to purchase something. You see a cool product in an advertisement, click, and boom, you just bought yourself a hot product. Your wallet is at reach and you're widely awake. Just look for yourself, go to Amazon, ebay, or wherever you shop at and see what time of the day it was when you purchased it. 90% of the time, it's probably around the 9AM - 1AM timeframe.
Just wanted to share my 2 cents guys. Good luck everyone! :D thought my mistake could help all you new people out there, cuz I'm also fairly new too and we're all in this together.