Switching To Facebook’s Campaign Budget OptimizationFacebook advertising services | 2 January 2020 Reading Time: 3 minutes
A couple of years ago, Facebook introduced us to Campaign Budget Optimization (CBO) as a way to provide better results to advertisers at a lower cost. These results are achieved by distributing the allotted budget based on best-performing advertisement sets. CBO was at first a pick in highlight; however, Facebook, as of late declared it would end up being the default approach to fund campaigns. If you are feeling overwhelmed with all these changes, consider taking the help of Facebook Advertising Services.
Here’s how you can make the most out of Facebook’s Campaign Budget Optimization
1) Acquaint yourself with CBO
Facebook’s Budget Optimization apparatus utilises an algorithm to optimize your budget distribution across advertisement sets automatically, however it’s undoubtedly not a ‘set it and forget it’ tool. The more you comprehend CBO’s capabilities and limits, the better you’ll have the option to work it to further your potential benefit. Here are a bunch of tips that will help you acquaint yourself with CBO:
A) Figure the right spending plan – Your calculations need to be on the next level since you’re not centered around individual ad sets. The least demanding approach to discover your campaign’s spending plan is by figuring out what you would usually spend on individual ad sets, and afterward adding those numbers together to create your campaign total. But these numbers aren’t the final ones that Facebook will be spending. Instead, the algorithm will take the total allocation and distribute it automatically to the best-performing sets to give you the most value for your money.
B) Select the right fields – When you’ve chosen budget optimization at the campaign level, you’ll notice the customisation fields are not quite the same as what you see at the ad level. At the campaign level, you have the choice to choose between a daily budget or a lifetime budget. With a daily budget, you can decide to let the advertisements run continuously, or set beginning and end dates. With lifetime budgets, you’ll have to choose the start and end dates. With CBO, you can regain some lower-level control by setting a base or potentially max spend the amount on every ad set dependent on the spending you set at the campaign level. Doing this guarantees all promotion sets get some bit of the budget, which is significant in case you’re trying creative.
C) Test several creative – Because CBO sends an amount to the highest-performing ad, every one of your advertisements ought to be different. If your ads are the same or similar, Facebook’s CBO algorithm won’t work as designed, and you’ll wind up losing money for unclear results.
2) Adjust your reports:
You will still have access to metrics on an ad set level. But it would be best if you got used to calculating the campaign’s success based on the number of results for your campaign and the average cost per optimization event at the campaign level. This could show that Facebook anticipates disposing of the advertisement set level information sooner or later, so we recommend updating your reporting now. Hiring Facebook Advertising Services can also help you with your reporting
3) A Plan-B:
Facebook is asking promoters to place great trust in their capacity to distribute ad budgets to convey the most effective outcomes naturally. Perhaps the most significant issue of CBO isn’t having an impact over the littler subtleties, so your Plan B is comprehending what you do have authority over and utilising those switches to get things in the groove again.
As we referenced previously, you will have constrained authority over budgets at the advertisement set level, so you can mess with changing the base and maximum spend limits. If things are going astray, you can likewise make a different campaign for every ad set to have full command over the budget limit at an ad set level.
We at ValueHits offer the best Facebook advertising services that help your ad budgets and make the most out of it. If you would like to learn more about it, feel free to give us a call or visit our website for more information.