It can happen to the best of us. We turn on a Facebook campaign, miss a couple steps and WHAM! You are hit with a bill from Facebook that is 3x more than you meant to spend.
So how do you avoid that?
How do you set your campaigns up on Facebook to ensure you only spend what you have budgeted?
It’s actually pretty easy.
In this post, we will show you the 3 ways + 1 trick you can do to set your Facebook budget.
The nice thing about budgets on Facebook is they all kind of trickle down on each other. You can set one at each level of your account.
Account Spending Limit
You can set a budget on your entire Facebook account. Once this threshold is reached, Facebook will turn off all of your ads so you cannot spend more. To get there go to “Billing & Payment Methods” from the main navigation menu
You will see options. Make sure you click “Set Account Spending Limit”
From there you can set your overall account budget
Campaign Spending Limit
You can set the limit on a campaign by campaign basis.
For example, say you have a campaign promoting your companies blog and you have a campaign promoting your companies new product. Your campaign budgets might break down like this
Blog Campaign – $2k/week
Product Campaign – $10k/week
This will ensure you spend the right amount on each campaign.
It’s really easy to set this limit as it’s pretty much the only option at the campaign level.
Ad Set Budgets
One level below the campaign is the ad set. You can tell Facebook how much of your campaign budget you want to allocate to each individual ad set.
Also, you can set a daily budget and have a start and end date.
This is really helpful if you are running a promotion.
For example, say you are running a Black Friday sale and want an ad set to spend $1k/day but all of your other ad sets to stay at $50/day.
To set the ad set limit, just insert the amount in the daily budget field.
BONUS TIP: You Can Create Rules In Facebook To Control Your Spend
As you get more advanced with Facebook marketing, you might want to create some rules to help you control your budget and spend. The best use case for these rules is when you have hard and defined numbers.
For example: Let’s say you run a t-shirt business and you make $13 per shirt.
You wouldn’t want to run Facebook ads that convert people at $20 per sale unless your average order volume was multiple shirts.
You can tell Facebook to stop an ad or ad set, decrease its spending, and a few other things by creating rules.
It’s pretty simple. Check it out below.
Then create your rule.
Wrapping It Up
Knowing how to control your budgets on Facebook is critical to ensure you don’t over spend.
It is especially important when you have multiple campaigns running and want to start testing ad sets and ads. If you aren’t careful you can easily spend more than expected and get frustrated.
Hopefully, this makes Facebook budgets more clear for you on your next campaign.