Ready for another update in the world of Facebook? Well, here it comes. Facebook just mentioned that all Facebook ad campaigns will be automatically set to campaign budget optimization.
Campaign Budget Optimization
If you have set up campaigns on Facebook, you would know the struggle of trying to manually switch over budgets for different ads while the campaign is still running. With this new update, Facebook aims to eliminate that struggle. The platform will set one overall budget for the campaign and optimize this across all ad sets while distributing it to the top performing ad sets in real-time. More importantly, it will allow you to maximize the results of your campaign and not spend too much of your budget on underperforming ad sets.
To use this tool effectively, you will want to make sure that you optimize your goals and bids according to the value they add to your business. This will allow the platform to work its algorithm and help you get the best results out of your campaign
All you have to do after that is to set an overall budget for the entire campaign across all ad sets. See below for a visualization provided by Facebook.
Additionally, it will also allow users to set daily and lifetime campaign budget amounts and bid caps and spend limits for each ad set.
Why Should I Use This?
First, and probably the most important thing to mention, is you get the most value for your money. Because the algorithm distributes your budget to your top performing ads, you get more conversions out of it. Second of all, you can allocate the time you used to save for managing your campaigns to other things because this update will save you loads of time setting up budgets for each of your ad sets. Lastly, the efficiency of your campaign will significantly increase as Facebook changes and distributes your budget across ad sets in real time.
Optimizing social media channels can be time-consuming but updates like these help us be more effective with our time and budget. Campaign budget optimization is already up and running and this is the perfect time for advertisers to start testing it out with their campaigns. Boston Web Marketing specializes in social media optimization! Call us at 857-526-0096 to learn more about social media optimization services.