MadSpend enables you to generate up to 3x the number of qualified leads with the same spend. 

Facebook optimizes for “website conversions” but "lowest cost" lead capture does not correlate to value. As a consequence most companies see their CPA increase dramatically as they scale their spend, no matter how narrow their audiences are.

With MadSpend, you can determine predicted value of each lead and bid more Facebook ad spend on higher-value leads, therefore reducing cost of good leads by 3x. 

Below is a documentation to get you started on MadSpend.

1. Technical Setup

Objective: To set up requirements in order to fire the Purchase events to Facebook

1a) Set up the MadKudu JS snippet on your website

Enabling MadKudu JS on your website will allow MadKudu to fire the Purchase event to the Facebook Pixel.

There are multiple ways to set up the MadKudu JS snippet on your website:

  1. Segment
  2. Google Tag Manager
  3. Manual setup on your website

Here is a detailed documentation on how to get set up.

1b) Connect your data with MadKudu

Connecting your data with MadKudu will help us set up your predicted value attribute to be sent to the Facebook Pixel.

The steps to do this are:

  1. Create an account on app.madkudu.com
  2. Navigate to the Integrations tab
  3. Switch on the data connector of your choice by following the instructions on the page

1c) Share list of conversion landing pages

Sharing a list of your conversion landing pages would allow MadKudu to set up the firing of the Purchase events to Facebook.

An example of a conversion landing page would be something like this:

1d) Connect Facebook Ads as a source to Segment

Connecting Facebook Ads as source to Segment can help us obtain all the data from your campaigns and link them to your CRM data for reporting.

Here's the documentation to get that set up.

Success Gate: Check if the MadSpend event is fired on the page to Facebook

Once the MadKudu team has shared that they've set up the firing of the MadSpend event to Facebook, you can double-confirm if this indeed true.

To do this QA on your own, you can:

  1. Inspect the console of your conversion landing pages on Chrome
  2. Navigate to the Network tab
  3. Search for Purchase in the search bar
  4. You should see the following attribute labelled cd(value)  - see example below

2. Facebook Setup

Objective: To set up your Facebook environment in order to activate the MadSpend optimization within Facebook

2a) Assign MadKudu an analyst role on your ad account

Assigning MadKudu an analyst role on your ad account will help us understand your current Facebook setup, provide recommendations and measure MadSpend campaign performance.

The steps to do this are:

  1. Go to your Ad Account Settings in Ads Manager.
  2. Under Ad Account Roles, select Add People.
  3. Enter the name or email address of the person you want to give access to.
  4. Use the dropdown menu to choose their role and then click Confirm.

2b) Set up (at least) one campaign to optimize for MadSpend event

Setting up at least one campaign to optimize for MadSpend event will help Facebook get to 50 distinct Conversion values which will allow the "highest value bidding" to be unlocked on Facebook. Note: this is an estimated number of conversion values required by Facebook to unlock that optimization strategy.

To do this, the recommended approach is to do the following:

  1. Create a duplicated version of the highest traffic driving campaign ⇒ no changes made to the original campaign objectives
  2. Split the campaign budget by two and edit the two campaign budgets accordingly
  3. Name the second campaign <Original Campaign Name> [MadSpend]
  4. Set up the second campaign objective as Conversion
  5. Set up the ad-set level objective as Purchase

Ideally, to speed up the process of unlocking the highest value bidding, you should change all your adset-level objectives for your Conversion campaigns to Purchase.

Estimated benchmark time required to unlock highest value bidding:

  • If you optimize 1 campaign on Purchase that has an average of 20K impressions, and your conversion rate (from views to the conversion event) is about 1%, the estimated time needed to reach highest value bidding is about 7 days.

Success Gate: Check if "highest value bidding" strategy has been unlocked

To confirm if "highest value bidding" strategy has been unlocked:

  1. Under the Campaign tab, scroll down to the Campaign Budget Optimization section
  2. Under the options for Campaign Bid Strategy, see whether there is an option for "Highest value or lowest cost"

3. Getting your campaigns ready

Objective: To set up your campaigns with MadSpend optimization

3a) Set up your MadSpend campaigns for initial testing

The objective of setting up your MadSpend campaigns for initial testing is to see how MadSpend is performing better than your current Conversion optimization strategy.

Here are the guidelines to getting this set up:

  1. Name your campaign with a "[MadSpend]" tag at the end (for ease of tracking)
  2. On the Campaign-level settings:Set your campaign objective to ConversionSet your campaign bid strategy to "highest value or lowest cost"
  3. On the adset-level settings, set your Conversion event to "Purchase"
  4. On the ad-level settings, ensure you enter a link tracking

Success Gate: It is recommended to set up at least half of your current Conversion campaigns with MadSpend for us to get enough volume in conversions.

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