If you're just starting out, don't test every single variable. Focus on what will move the needle.
Here are the top 3 variables I test before scaling a campaign:
Try BOGO Free, Do 25% + Free Shipping, etc
"Order today for a free surprise gift" works amazing - only works if you're using the same supplier so both products arrive at the same time
I've had products lose me money at $19.99 and become profitable at $24.99.
Another interesting one was a $49.99 did better than $39.99 and $44.99
Pick some price points and test 'em
This can make or break a campaign. It's literally what stops your customer from browsing FB to stop and watch/read your ad...
#3 is ad copy. Test long copy where the ad acts as the sales letter. Test short copy that gets the user to click through to read more on the product description
That's a good problem because it can be fixed pretty easily
Test some more and hack it down to $18. Nice. Then again to $15, then 12. And eventually you're printing money while you sleep
Like always, RT + Fav the top tweet & I'll keep doing these