This is a condensed version of The CBO Guide. If you don't have any prior sales or not sure what hero product to feature in your CBO, I recommend you get started with a DPA Catalog Campaign.
The CBO is simple to setup and should be easy to maintain. The most important thing with this campaign is to test small but with purpose and not fiddling with Facebook's optimization process (let it run).
WARNING Use 7-day click regardless of recommendations below. Leaving it in here for historical purposes until I can sort out the specifics. Sorry for the confusion.
Pre-requisite: If no selling product, run a DPA (ABO Catalog Campaign) to identify Hero Products.
CBO Setup:
Campaign: Website only (Website and Shop can't use Dynamic Creatives), Original Audience (Broad), 1-Day Click (optional), Dynamic Creative Testing, Advantage+ Budget Optimization ON.
Ad Sets: 1-3 max, broad targeting, NO Advantage+ Audience.
Ads: Use Static Ads with Post IDs for scaling.
Collect Winning Post IDs:
Use high-converting ads with strong engagement.
Tools: Ads Manager, Facebook Business Suite, Post ID Finder. See main guide.
Ad Testing (3:2:2 Method):
3 Creatives, 2 Headlines, 2 Primary Texts (No descriptions).
Dynamic Creative ON for testing, OFF for winners ad set.
Limit tests to 1 test ad set per run in the beginning.
Use second test ad slot to isolate winning Post IDs from your DCT ad set (Dynamic Creative OFF).
Run tests as long as it takes to be confident in the results.
Lack of spend after a reasonable wait means the test ads failed the test.
Budget & Scaling:
Start with 20x-50x CPA/week ($85-$215/day for a $30 CPA) if you've got the budget.
If not start at $10/day or whatever you're comfortable with (if you have a good product small budgets work fine, otherwise be prepared for a marathon).
Leave the campaign running for best results, only commit to a budget you can afford.
Focus on scaling efficiency first, improve ads to drive down Cost Per Acquisition.
Once you establish the campaign or hit a wall scaling efficiency, increase 1-3% at a time, max 3x per week to scale while the campaign performs, preferably with automated rules.
Optimization:
Let campaigns run at least 1 week before any changes.
Migrate winning Post IDs to a dedicated ad set for scaling after isolating and confirming in a separate ad set (do not bloat your winners ad set with mediocre ads).
Automated Rules:
Use to manage and scale budget after reaching a point of stability.
Complement with DPA (ABO) Catalog Campaign:
Use DPAs for testing new products if you have no hero products.
Use DPAs to boost sales volume by leveraging the prospecting done by the CBO.
Stay away from retargeting or complicated setups at the beginning.
Core Principles
One campaign per business objective.
Broad targeting beats Advantage+ for long-term scale.
Controlled, incremental improvements (max 3 ad sets, 2 active tests).
Another useful tool for hunting Post IDs is to access Page posts from Business Suite. This will show all the ad posts. If you want to avoid hunting them down later, you can grab them here after you publish your ads.