When it comes to pay-per-click advertising, you need to consider your budget carefully, to ensure a healthy return on investment.
Over 160 million businesses use Facebook Advertising a month, and this figure is growing all the time. This means that when launching a new Facebook ads campaign, you need to configure your budget to ensure that your ad is seen.
Configuring your Facebook Ad budget
With Facebook Ads, you have complete flexibility over the budget you set. Once you have reached this budget, Facebook will stop showing your ad. This means that you won’t spend more than your budget allows.
You can either set a daily or lifetime budget. With a daily budget, you set the amount of money you want to spend each day. With a lifetime budget, you set the budget for the whole duration of the campaign. This may be a good idea if you want flexibility over how much you want to spend each day.
Remember that with Facebook, you have to spend a minimum of $1 a day on your ads.
If you have a limited budget, we recommend starting with a small amount of ad spend. You can then slowly increase your budget until you see results that you are happy with.
How to optimize your Facebook Ads budget
The good news is that you can run a successful Facebook Ads campaign, even if you have a limited marketing budget. Here are some of the ways you can configure your campaign for maximum efficiency.
Know your target audience
If you know your target audience and have created a buyer persona, you will be able to focus your Facebook Ads on the customers most likely to convert.
The great thing about Facebook Ads is that you can really zoom in on the people you want your ads to target. Not only can you target age, gender and location, but you can focus on things like life events.
For example, if you sell wedding decorations, you can set your ads to target Facebook users who have recently got engaged.
Create focused ad copy
Showing your ad to the right people is half the battle. The next step is to create compelling ad copy that will entice prospective customers to visit your website or sign up for a coupon.
Take the time to create high-quality content that is easy to read and to the point. Remember that if people are on their mobile phones, you want them to stop scrolling!
Don’t forget to use high-quality images relevant to the product or services you sell. If you have text in your images, keep it to less than 20%, as these images tend to perform better.
Keep checking what works
Some Facebook ads will perform better than others and provide you with a higher return on investment. Keep checking your analytics to see which ads are the most effective. Once you know what your prospective customers like, you can create ads that appeal to them.You can even carry out A/B testing, where you run ads with different variables to see which perform best.