How to Set Your Facebook Ads Budget

Welcome to episode 337 of Hit the Mic with The Stacey Harris.

Continuing our February theme with Facebook ads, I want to talk today about setting your budget and I want to highlight a couple of expenses that maybe we don't consider when we're looking at a Facebook ads budget because sometimes things pop up that we don't think about. I want to highlight some of those things, and why they need to be factored into your overall budget. One of the most common questions I get is how much should my Facebook ads budget be? We talked a little bit about budgets last week when we talked about should you be using Facebook ads as part of your launch and I want to touch on this briefly. There is no right answer to what your Facebook ads should be. There is no, it has to be XYZ or you won't be successful. What happens though is your Facebook ads budget is going to dictate the other things you do as far as how many different campaigns you run, or how many different ad sets you run or where you run them or for how long you run them, to what kind of audience you run your ads to and how big the targeting range is for your ads.

There is no magic number as you have a higher budget, you will probably get more results. Not necessarily better results, but more, not because one budget's better than the other, but because you have more to spend so that you can do it for longer and you can reach more people and things like that. That's something to consider but there's not one magic answer to what your Facebook ads budget should be. The biggest thing you need to remember is that when your Facebook ads budget is any size, you have to pay attention to the targeting because no matter how much you're spending, if you want to be spending smart, you have to be speaking to the right people. You have to be targeting to your audience. That's where going back to the drawing board and knowing exactly who it is you're talking to is mission critical. If you're skipping that step, you're leaving a lot of money on the table.

Now before I go any further down this rabbit hole of budgets and targeting and things of that nature, I want to highlight a couple of places where you may be spending money that you don't realize needs to be part of that budget. The big one is graphics. If you're hiring someone to create graphics or you're paying for a graphics tool or you're buying stock photos, all of that needs to be considered because, guess what, your Facebook ads graphic, it matters. It needs to be eye-catching. It needs to be something relevant. It needs to be something that's going to get me to stop and read that text. Read that copy, because the more text that's on there, the less the ad is delivered.

Now that used to be actually a hard rule on Facebook where you couldn't have more than a certain percentage of text. You may remember the 20% rule. However now you can have as much text as you like, however it will impact the delivery rate of your ad. For example, if you have an ad with a lot of text, maybe 50% of the graphic total, it will be delivered less frequently than something with no text at all. I tend to find that I have the most success when my ads have very little to absolutely no text on them. I kind of let the graphics speak for itself and then really take advantage of the copy that's under the graphic with the headline and that little bit of text and of course the copy in the ad itself. I've found the most success with that. Then you don't have to worry about a delivery issue with too much text. Think about that. It's something to consider. But if you're going to use text, you're going to want to use text in a very smart way and you're going to want this graphic to look

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