Kill 90% - if after 7 days of dollar a day ($7 spent total), we don’t see results (meaning the cost per engagement or average watch time isn’t good), then just let it die. Do this 90% of the time; don’t waste your money.
Expand 5% - if it’s pretty good, we can then add another #30 for 30 days. Perhaps 5% of the time, you’ll find a worthy post-- usually a video that gets above 20 seconds in average watch time or a regular post with over 10% engagement (interactions divided by impressions).
Switch-boost 3% - If it’s a winner, change the audience we’re targeting in the same boost right from the Timeline or Pages Manager. Usually, we’ll initially boost to generate high traffic (BuzzFeed audience to a post on BuzzFeed). Switching to a media workplace audience a few days later. We also might switch to whatever audience we currently want to incept, perhaps we’re speaking at the Social Media Marketing World conference, so we’d switch a bunch of posts to that audience temporarily. Some posts we have live forever; they keep producing for months or even years, often triggered by custom audiences.
Stack-boost 2% - If it’s a “unicorn” (off the charts performance), duplicate the ad set inside Ads Manager so that we have another ad set running concurrently. When something is doing really well, we want to have multiple audiences seeing a post which means we need multiple ad sets. This is not possible inside the Timeline, but only takes a minute inside Ads Manager or Power Editor. The risk of a unicorn is that, if you run it too hard, it will burn out. We’ve seen a few companies accidentally kill their unicorns by literally spending millions on the, but not having any backups. Create “unicorn children”, as Larry Kim likes to call them-- derivative pieces of content, so you can get a similar effect from similar posts.