Welcome to episode 296 of Hit the Mic with the Stacey Harris.
Today I'm answering, possibly one of the most common Facebook ads questions. Which is how much should I be spending? There are a lot of questions around setting a Facebook ads budget and how much you should be spending and how often you should be spending it and how long you should be running ads for. Those are the 3 questions we're going to answer today.
We're going to start with setting your budget and what that budget means. We're going to talk about how often to be running the same ads and we're going to wrap it up by talking about your overall budget. How often you're going to be running ads from a budget of a monthly perspective or annually and sort of that perspective. Let's jump right in.
I want to start by talking about setting your ads budget and what that budget means. There really isn't any sort of magical number that your ads budget needs to be. You can a $50 ads budget, you could have a $50,000 ads budget. What's really relevant is how you work with that budget and what that budget means for things like targeting and frequency and placement. Also realizing that during different times your Facebook ads budget may go a little further or maybe not quite as far as you'd hoped. Really be aware of what your budget needs.
In this section I want to talk about an ads budget for a campaign. I have a couple of things that I want you to know when you're setting your ads budget. A, set your budget before you do anything else. Realize how much you are willing to invest in this Facebook ad. If it's $100, great. If it's $500, fantastic. If that's $5,000, whohoo for you. What it needs to be though is set, it needs to be known how much you're going to spend on this campaign. Once you've set that ads budget you need to stick with that ads budget.
Let's say you have a smaller budget, maybe you have $100 or $200 to spend on a list building campaign. A webinar or driving traffic through an opt in or a piece of content or whatever but the goal is list building. You have, let's say $200, to spend. $200 is a smaller budget, it may feel huge to you and that's okay but it is, in the grand scheme of Facebook ads, a smaller ad budget. It doesn't mean that it's impossible, it doesn't mean that you won't see results but you're likely not going to get 2,000 new people on your email listing from spending $200 on Facebook ads. Be aware of that, set your expectations.
Next, realize that with a smaller ad budget you really want to make sure that you're being really really clear on who you're targeting. You want that targeting to be pretty specific because you don't want to be spending money on ads that are not sitting in front of the right people. Not getting seen by the people who you want to be clicking and signing up for your email list. Know your targeting. The smaller your budget the less room you have for creative targeting. You want to be really really targeted so you know you're talking to the right people.
Next, you really want to make sure that you're setting your campaign up so it is a daily budget instead of a lifetime budget. This can really impact how you're positioned in the feed and the priority you get. I have found that daily budgets just seem to spend better, spend more consistently and get placement more consistently. I don't have any sort of information from Facebook saying this is true. They're really really tight lippe
