A new, easy way to better utilise your campaign’s budget is coming and it’s called Budget Optimisation.
Recently, Facebook has created a new tool to help businesses use their ad money in a more efficient way. Budget Optimisation helps advertisers to distribute the budget to the best performing campaigns based on real time data. Campaigns utilising this new feature, will have their budgets set at the campaign level rather than the ad set level but follow the same principle as with it you set the amount of money you are willing to pay over the course of a day (daily campaign budget) or a predetermined time period (lifetime campaign budget).
How does the Budget Optimisation algorithm work
The algorithm will try and get you the most results possible while taking in consideration the chosen bidding strategy. Let’s say that you have a campaign with three ad sets with a 10$ daily budget allocated in each of them. The way it works now, without utilising the Campaign Budget Optimisation feature, is that you will be spending the whole budget even though the conversions vary across ad sets. What you, as advertiser, would do, is to take the time to analyse and see which one is the best performing adset and then manually increase or decrease that ad set’s budget as many times as needed throughout the course of the day. This new feature, automates this process and saves you a lot of time while allowing you to make more bang for you more bang for your buck. Utilising data based on real-time results the algorithm finds the best opportunities for results across the three ad sets (mostly those available to the second, in this case) and optimize your budget accordingly and in alignment with your choesen bid strategy.
How to set up Campaign Budget Optimisation
In order to utilise Facebook’s new feature you can do so while creating a new campaign or editing an existing one, by sliding the toggle on. Then proceed to setting up your daily budget.
Is campaign budget optimisation right for you?
You may be wondering if Facebook’s new feature is a right fit for you. Well, you will be able to make the most of it:
- If you are looking to get the most results possible from your campaign
- If distributing the budget evenly across all ad sets is of little importance for you
- If you don’t want to allocate time to manually adjust the budgets across many adsets
But, do not use Campaign Budget Optimisation if you are not flexible in how the budget is spent across the ad sets in their campaigns due to specific spend targets for each ad sets.
What you should have in mind before starting
- When using Campaign Budget Optimisation be sure to evaluate your CPA and number of conversions on the campaign level and not the ad set level to have a better picture.
- Campaign Budget Optimisation cannot be combined with accelerated delivery
- You cannot run ads on specific time nor days, (ad scheduling).
- When combing budget optimisation with lowest cost bid strategy without a bid cap, all ad sets in the campaign should be optimised for the same result eg. ViewContent, Purchase or any custom conversion that matters to you.
- When utilising lowest ocst bid strategy with bid cap or target cost bid bid strategy, you can tailor your the bid caps, target cost or conversions you optimise for there isn’t a requirement of using the same optimisation goal across ad sets.
Campaign budget optmisation provides advertisers with a central place to manage their budget and an easier way to to maximise their campaign’s performance with far less manual work from their side. This new feature is set to roll out to all advertisers in the coming months.