I’d like to talk about the Facebook ads you’re running before we go into “what to do next”. A few things for discussion on that:
What did you select for the ad placement? Did you target Facebook only, or did you include Instagram and … “Audience Networks”? By default, Facebook will put you in all three.
In my experience, I have seen a substantial amount of what can only be explained as click fraud traffic coming from the Facebook Audience Network. Now, my targeting my be drastically different from yours, etc., but I would recommend you try targeting only Facebook users if you haven’t already, just until you get some results. Then experiment with the Audience Network to see if you can make it work for you.
Without information about the idea you’re shopping, it’s hard to really narrow in and help. But one of the key things you need to nail is getting your targeting right. I don’t know what targeting you set up, but if you left the age group 18-65+ and selected something like interested in Digital Marketing and let it run, I can almost guarantee you’re hitting it way too broad.
Getting the targeting right can take time, and yes, money. It can be pretty frustrating. One of the tricks I use to get targeting down that I’ve seen work pretty well is to find people that are interested in websites that are related to what I’m offering. So if I were to go after the startup crowd, I’d target people with an interest in AngelList, 500 Startups, HackerNews, etc. It’s not perfect, but it’s a good starting point. See what happens, then tweak some more.
Look at the “Demographics” tab that Facebook shows you after your ads have run. Which demographics got the most impressions and had the most clicks? Do you think that those types of people are really who would be interested in what you have to offer? I ran one ad set with the age range 18-65+ just to get a feel for which age group would be best to target. Unfortunately, I got a bunch of poor quality traffic. Looking at those stats, it was something like 18-22 year olds where clicking things the most - by a lot. Although I really wish there were that many 18-22 years that had successful online businesses that would be a good fit for my product, I had to ask myself: Do you really think that age group 1) has the business needed to use my product and 2) is willing to drop some coin? The answer was no. I filtered that age group out, and result quality went up.
Visits / Analytics
You mentioned 100 visitors that behaved as if they were interested. First off, conversion rates for paid acquisition off of ads can be lower than 1% depending on what you’re offering. If you’re killing it, it will be much higher. But 100 isn’t enough data at this point.
Out of curiosity, what metrics are you using to determine interest? I would not advise that time on page is a great metric out of Google Analytics for a number of reasons, but I’d like to know what you’re seeing.
Most of your Facebook ad traffic is going to come from mobile devices. Have you made 100% sure that you’re landing page sings on a mobile device? I don’t know about you, but the pain of typing on a mobile device prevents me from doing things on one that I wouldn’t hesitate to on a desktop. Make sure if you’re asking them to go through pain in typing on those wonky keyboards that what you’re offering is worth it. Really put yourself in their shoes.
Also, play with the devices you target. Believe it or not, but iPhone users tend to convert much better than Android users in my ads. Targeting desktop can be more expensive, but they are usually much more engaged as well.
Relevance and Cost
Did you select the Pay Per Click option? If not, you should. Don’t let Facebook charge you for impressions. That’s wasting money. If you chose Pay Per Click, you should also be able to override the automatic bid option. Try something stupid on a manual bid like $0.23 a click. See what happens. Tweak it as needed if you don’t get enough traffic. Put it back to automatic if need be.
The other component is - what were your relevance scores? Facebook will give you cheaper clicks (a lot cheaper in fact) if you have high relevance.
Regardless, you should be able to get a fair amount of clicks every day for a budget as low as even $5-10 a day. Specify how much you want to spend daily and let Facebook chew on that. $5 is nothing in the long run. Just skip lunch if you need to.
How long did you run these ads for, and were they over a weekend?
This is pretty important. Run your ads for at least a week, ideally through the week. Weekends are typically pretty bad for conversions, IMHO.
Let us know what you’ve got, maybe post some of the ads you’re running. I’m pretty sure at least one of us here can give you some input that will help to move the needle for you.