One important aspect of your Facebook advertising campaign is your budget. Your budget is basically the amount you want to spend on your Facebook ad/s. Easy, right?
The AdSet Settings in ConnectAutomate is where you’ll be able to specify your budget. See the screenshot:
As you can see, there are two form fields you need to fill out. To the left is the actual amount and to the right is the option to choose between a Daily and Lifetime budget.
In this article, we’re going to clarify a few essential things that will help you set the right budget in ConnectAutomate based on how long you’ll be running your ad for and the number of ads you’ll be having within that specific period of time.
Daily Budget vs. Lifetime Budget
Regardless of the post that ConnectAutomate turns into an ad, you only need to choose between 2 types of budget for that ad: Daily or lifetime. Below is a simple definition of each type of budget means and sample scenarios using ConnectAutomate.
The daily budget is the amount you want to spend on a single Facebook ad each day.
Let’s say you have a budget of $5 per day and want ConnectAutomate to run 3 ads at once for 3 days. That means you’ll be spending a total of $15 per day and $45 for the entire runtime of those ads.
Go back to Boost Conditions to adjust the number of ads to run at once:
The lifetime budget is the amount you spend for the entire duration of your ad/s.
Let’s say you have a lifetime budget of $30 and want to run just 1 ad for 5 days. Facebook will distribute that $30 budget over 5 days for that single ad.
On days/times when your ad isn’t performing well, Facebook will try to conserve your budget. On days/times when your ad is performing well, Facebook will spend more of your budget to maximize your results.
That said, with a lifetime budget you can expect your daily spend to fluctuate often.
Should You Choose Daily Budget or Lifetime Budget?
There is no right or wrong answer to this because both budget types have their own importance. At the end of the day, you need to choose what’s most beneficial for you.
Use Daily Budget if…
You want your campaign to run indefinitely or until you decide to stop it.
You want Facebook to spend your entire budget limit for the day regardless of the performance of your ad/s. This is great if you know that your campaign is doing well!
You’re targeting your ad/s to an engaged audience like your email list or previous website visitors. Since you can’t schedule your ads when using a daily budget, you want to make sure that people who see them throughout the day are those who’ve expressed interested in your business.
Use Lifetime Budget if…
You have a total budget in mind for a specific timeframe.
You prefer having control over the days and times your campaign runs. For example, you prefer showing your ads in the afternoon because that’s the time your audience is most active on Facebook.
You want Facebook to optimize your spending according to your campaign’s performance.
Specifying your budget for your Facebook ads in ConnectAutomate should be easy with this guide. Before choosing which type of budget to go for, consider a few factors such as your desired campaign length, level of control, possible changes in your budget, and audience. Good luck!
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