Wondering what proportion you must pay on Facebook ads?
Do you have to be compelled to set a budget?
In this article, you’ll discover a way to set a Facebook advertising budget by operating backward from the revenue you wish to come up with.
In the budget for your Facebook ad, you’ll get to control a couple of important elements: How much you want to spend and when you want to start spending it. there are further, specific customization options at this stage, too, for those eager to have even more control over the specifics of delivery.
CHOOSING A BUDGET
By default, Facebook starts out suggesting a $20.00 daily budget. You can adjust this however you want, choosing either “daily” or “lifetime” budget and also editing the amount you’re wanting to spend.
With the daily budget, the amount you set is the maximum you will spend on any given day.
With the lifetime budget, the amount you set is the maximum you will spend on the lifetime of your Ad. When you choose a lifetime budget, you will also need to set a start and end date for your Ad. The option to run the Ad continuously is no longer available.
CHOOSING A SCHEDULE
For daily and lifetime ads, you can tell Facebook when specially you’d like the ad to run. By default, if you are running a daily ads budget, Facebook suggests running the Ad continuously. Otherwise, you can choose to start and end the Ad on a specific day. (Facebook runs the math here for you and tells you the maximum amount, total, you will spend)
WHY USE FACEBOOK ADS?
Before we get too deep into the specifics of Facebook advertising, I wanted to share this amazing list of pros and cons, which was so helpful in our deciding how to pursue Facebook Ads for Buffer.
- Campaigns are easy to track.
- Immediate influx of traffic.
- Complete control over your daily budget and maximum Cost-per-click.
- Instant return on investment (You can easily define a cost per conversion and understand what your profit is)
- More targeting options including, towns, regions, age, likes/interests, income bracket, and other demographic.
- You can use images and videos to capture the interest of your target market, helping you to sell your product and services.
- CPC is relatively cheap, depending on your industry (On average, no more than $0.61 per click)
- If set up and managed incorrectly, it can be costly, but less so than Google AdWords.
- Depending on your target market, the majority of the larger potential audience can be irrelevant (For instance, we would not recommend Facebook Advertising if someone only served or supplied their products and services to one town)
- There is no option to target your ads at certain days of the week unless you choose a lifetime.
- Most suitable for those operating in B2C(Business to customer) markets reaching people too early in the buying cycle could potentially reduce your goal conversion rate.