In a highly competitive environment like Facebook, if you are a product or service to ”play”, you have to pay and sometimes there is not much budgeting for advertising, many are compatible with inappropriate or very general solutions. which ultimately fail to achieve their goal.
We assure you that in advertising on Facebook and social media in general you can have total control over both efficiency and budget, but first of all you need to learn your choices to get the best possible choices – especially when it comes to smaller businesses who do not have much room to experiment with spending a large advertising budget. Decide what your goal is.
you can have total control over both efficiency and budget.
1.Decide what your goal is.
Through the Facebook Advertising Guide you can choose those goals that are appropriate to respond to why you want to advertise your Facebook product or service. Understanding the differences between these goals and choosing right is important, as the goals will determine how to pay for your campaign.
For example, you can pay only when someone is exposed to your ad. This charge is based on CPM (cost per 1000 impressions). You can also be charged when a specific action is taken, such as clicking on a link – cost per action.
2.Define the type of your available budget.
There are two kinds of advertising budget to choose: Daily or Lifetime.
In lifetime budget we refer to when the ad for a particular campaign has been set to run a specific time period. In this way, the amount you set will gradually decrease as the days go by.
Daily budget refers to cases where a campaign’s ad will run for an indefinite time until the goal is reached. Assuming that the category selected is “Promote your page,” based on the daily budget you set, Facebook will spend a certain amount each day to get new likes.
Whichever way you decide to move on is that you tell Facebook that it can not exceed the amount you’ve budgeted for your advertising campaigns. Keep in mind that the minimum daily amount to start is $ 1.
3.Choose your maximum bid.
Facebook explains: “The budget is the maximum amount you have for each ad campaign. The bid allows you to decide how much you want to spend per click (CPC) or per 1000 impressions (CPM). “
Therefore, budget helps you control how much you spend on each campaign and bid respectively, how much you spend on each ad.
By defining the bid, you must always keep in mind the goal you have set before to know how much you have been costing it every time you make it. Returning to the “Promote your page” example, you essentially will evaluate how much your Facebook page is worth by placing the cost per action bid at a certain level.
Do not forget that you set the budget and bid because you are competing with many similar businesses advertised on Facebook. In this way you declare how much and how you want to participate in the “auction” of a space in the news feed of a potential customer!
4.Draw the structure of your campaign.
Last October, Facebook announced an update to a new structure for the structure to help businesses organize, measure and optimize the results of their Facebook efforts. Updating this is important in how you define budget and bid relative to your advertising goals and audience, because you can only complete specific actions at specific levels of your campaign structure.
With the following layout, you can better understand the dividing lines and the differences in each level until you reach the completion of the campaign.
All of the above were some basic guidelines to consider when setting the budget for your Facebook advertising campaign. Remember that success depends not only on the rules but also on the individual factors. For example, the kind of industry in which you are competing, or the quality of the content you are promoting, and you must all treat them consistently and flexibly to bring the results you want for your business.