Facebook Ads – What is the right budget to set?
When you are first experiencing with any pay-per-click program, you should be very wary of spending too much money too fast. By setting a small budget to begin with, you are correctly experimenting with what is going to work for you and your offer. Let’s think about the negatives of setting a high budget per day right away with a new advertisement:
-You have no idea if your offer will convert or not
-You have no idea if there is more demand for your offer then you anticipated
-You have no idea what will happen whatsoever
Why would you setup a $100 a day budget right away vs. a $10 budget?
Well, you’d be an idiot, that’s the only reason why.
Whenever you are starting out right away you should always test your market and offer with a small budget before cranking it up. Let’s say your $10 budget is converting very well – then it’s time to step up your budget to $20. From $20 move to $30 etc..
You never want to make any HUGE jumps in Internet Marketing, it’s better to take many Facebook Ads steps first.
Split testing: Any professional marketer knows they key to succeeding is by testing their advertisements. This is no difference in what we are doing; you must test your offers! A new marketer might think they have a great offer and set their daily budget to $200-$300, which is a lot of money to them. Well, what if the offer the novice marketer thought was going to do well turned out to do horrible? They are out almost their entire marketing budget. I have seen this happen to many marketers and I hate to see it happen.
There is nothing wrong with setting a 5-10 dollar budget the first day with 3 different ads to see which one does best.
You also want to be able to have multiple landing pages for your visitor to land on. Put a statcounter code on these pages to see which ones are getting the most hits. You can sign up for free statcounter codes that will be invisible on your landing pages at statcounter. I use them for over 50 projects and have had great results.
Schedule: I prefer to run my advertisements from Saturday until Thursday. In my tests, I have come to the conclusion that Fridays and Sundays are not the greatest days for Internet Marketing. It seems like many people do not bother poking around the Internet and are out doing other activities. During the week and Saturday’s are generally my best days for profits. Schedule your ads accordingly to your peak times.
Budget Management: Be sure to manage your budget across many offers. Do not put all your eggs in one basket. Successful marketers have a lot going on that equals them to being successful. Do not be discouraged if one of your offers do not work, just cross it out and move on to the next one.