7 Tips to Wisely Using Your Facebook Budget

Blowing through your Facebook Ads budget can happen quickly. When I first started using Facebook Ads, I used to think about it like as if it was a slot machine, the more money in, more will come out.

I didn’t know about targeting, I didn’t know all my options, and I didn’t know there was a Facebook Ads Manager coupled with Facebook Power Editor Tool to really create effective Facebook Ads, in any niche!

So after spending over $5000 dollars in Facebook Ads, a few Facebook Ads Courses. I’ve learned 7 very important tips on using your facebook budget wisely. These 7 tips could potentially save you hundreds, if not thousands of dollars in Facebook ads.

Knowing a few important factors to your budget is key to your success in Facebook Ads.

screen of facebook budget section

#1 Know how much you will spend

It is a very good idea to know how much you are willing to allocate your budget to Facbook. Having a number will help you understand many core concepts of Facebook Marketing and also you will be very consistant. When dealing with ads, the key is consistantacy and knowing how much your willing to spend on your campaignes will greatly effect how you budget.

Lucky for you, facebook has limiters so you can set these up for your own comfortability.

I reccommend start with up to a $300 budget per month. If you’re starting out and want to get the feel for it, you can test out one ad at a time for $1 a day.

With a $300 a month budget, you can test 5-10 ads at a time.

#2 Understand how to read the numbers

This is a critical point. Know how to read the numbers. You should understand what the numbers mean in the Facebook reports. Knowing your numbers and doing anaylis will help you make better decisions when creating facebook ads.

You will learn your target market better each week and how they react to certain ads. It’s all about testing and scaling up.

Your goal in the end is conversions. If your selling products online, you should be setting up conversion goals using Facebook’s Website Conversion Pixels.

#3 Understand your full options in Facebook Ads Manager

There is much to learn in the Facebook Ads Manager. You should know all your options. By knowing your options, your ads can be optimized better for your audience and niche market.

There are options for Page Post, sending people to websites, gain more likes on Facebook Pages.

Knowing this and how to work each option correctly is key for you in saving money in ads. Facebook is pretty smart at helping you save money, when you know how to use it.

There are many different types of ads depending on what ads stratergies you go with.

Each business is different so testing is very important in the begining stages and moving forward.

#4 Learn how to test using Facebook Power Editor

A important tool I use in my business daily is the Facebook Power Editor Tool. This tool is one of facebooks most powerful tool in creating ads in Facebook. With power editor, you can create hundeds of ads in minutes.

I use this tool to create testing ads. I can use power editor to copy and duplicate campaigns, ad sets, and ads. I have full control and there are even more advertising options in power editor than the standard Facebook Ads Manager.

Learn more about how to use power editor here.

#5 Spend what your comfortable spending per day

I used to just spend like money is made on trees, but after a while of not producing results. You get frustrated. When I saw my frustation, i realized I was just spending to much money and was not comfortable spending that much.

Start testing at a dollar a day. It will help you understand your traffic and lead flow better.

#6 Use retargeting to get the best results

Facebook has a unique option so you don’t have to keep spending so much of your Facebook budget on targeting new people to see your website. You can target people who’ve already been to your website.

This is a game changer when it comes to advertising. People who might have already visited your blog or website, that didn’t buy, can have a chance to come back to revisit the site again or get exposed to more content.

All you have to do is create a custom audience inside of facebook and install a re-targeting pixel.

#7 Budget out some money to take fresh Facebook Ad Courses Every 6 months

The last and not so final step is to budget some money out to take fresh facebook courses every 6 months. Facebook changes and changes often and its good to keep up to date with the latest updates. Not only that, you can also see new stratergies and tools that are out in the market place that can help you with your facebook marketing ventures.

So creating a budget, being comfortable with how much you spend, learning the ins and out of Facebook and Facebook Ads are key to your success.

My favorite advice is definitly #7. Make sure you are educated and not spend countless hours and dollars marketing to thin air. Be definite and track your numbers to clearly define your goals and create the results that you want.

If you haven’t checked out the #1 Facebook course on the internet to date, check out dark post profits 2.0 from Chris Record. You will learn every single step you need to know to succeed using facebooks powerful advertising tools. You just got to know how to use them.

Your success is just a step away, isn’t it a smart idea to sign up and learn more about Facebook ads?