In this lesson, you’ll be learning about the cost of Facebook ads and how you can get good results while staying within your budget.
The cost of Facebook ads can vary considerably, since cost is influenced by many factors.
Of course, you’ll be able to control your campaigns and how much you’re willing to spend.
Learning the proper way to bid and budget your ad spend will enable you to get the best results without exceeding your desired budget amount.
For example, if you choose to set your budget at $50 and you want to run your ad for 5 days, Facebook will run up to $10 worth of ads per day.
By setting an ad budget and time duration, you can test the effectiveness of your ads before running them again.
Keep an eye on your CTR. CTR stands for Click Through Rate and you want to keep an eye on how well your advertisements are performing.
Your ads should never go below 2%, and if you notice that an advertisement is starting to fall below that level, you will want to tweak your advertisement and reconsider who your advertisement is targeted to.
Are you asking the right questions in your advertisement? Using the right image?
Make sure that you spend time evaluating the effectiveness of your advertisement to generate maximum conversion rates and avoid having your advertisements paused or removed.
Set A Reasonable Maximum Bid. You will want to set a maximum daily bid that you are comfortable with and fits within your budget.
Facebook will provide a suggested maximum bid based on the content of your advertisement and your targeting configuration.
Consider setting your maximum bid slightly lower than Facebook’s recommended minimum and adjust it as you need to based on your advertisements conversion rates and overall exposure.
You can also choose to pay for impressions or per click. It’s always best to choose CPC (cost per click) for the most part, especially during your testing phase. You can always change this later on if you need to.