Here’s my $0.02:

Understanding what doesn’t work is hugely important when you’re launching a brand, because it tells you which campaigns to shut off quickly, so you can shift the budget to the next iteration of the insight you want to learn, i.e., value propositions, price testing, model testing, and any number of other valuable data points.

This iterative process takes time. Facebook, for example, requires a certain amount of conversions to go through an ad set for the algorithm to start to work and ultimately find other people to purchase your product. There’s no hard number for this rule, but 50 conversions a week is a smart place to start.

For example, if you need 50 conversions a week per ad set, and your product costs $100, you need to spend $5000 in a week to get that ad set to work how it should. From there, you can back out your budget and estimate out how much you need overall.

We blogged about this today if you’re curious: https://bit.ly/2YedYkF

Hope that’s useful!