Internet Marketing, Landing Page Design, mobile app, Responsive Web Design, Web Design

How to set Facebook Ad Budget to fulfill your Digital Marketing goals?

Facebook Digital Marketing opens up huge business scopes, and it is no wonder that every brand today has great expectations from their Facebook paid advertising campaigns. With millions logging into this social media site, a well-planned ad could do wonders for your business prospects. But, the core business philosophy lies in getting more for less! And this is what most business owners want to achieve through their Facebook advertising campaigns. As a result they either under-budget or over-budget for their Facebook campaigns. We want to help the business owners overcome this dilemma. Our suggestions would help you set the perfect budget and help you achieve the business goals. So, let us continue…

What are your goals with Digital Marketing?

There are various business goals that the brands want to attain through their paid Facebook advertising campaigns. Some of them can be categorized (on a broader level) as:

  • Getting new Facebook Fans
  • Thousands of new Email Subscribers
  • Millions of Website Referrals
  • Getting trackable Product Sales
  • Increasing the app installs

Now that we have shortlisted the prominent business goals, it is time to help you set Facebook advertising budgets against each of these.

Goal #1: Earning Facebook Fans

You might have long dreamed of having thousands of loyal fans for your FB business page! Your dream could come true with a well thought out Facebook advertising campaign. Generally speaking, you need to spend $.50-$1 per Facebook fan. But you end budget should also account for business niche, brand reputation, presence in social circles and country (where the fans are sought). Based on these you might spend a bit less or more. There would always be some agencies offering unbelievable rates for getting you Facebook Fans, but cheap rates do not guarantee a good quality Fan club! You can start with a budget of $50,000 and take it from there.

Goal #2: Seeking Email Subscriptions

Facebook gives you a great scope to create a list of potential customers. The pricing for such a Facebook campaign varies on many factors. If your ad has an attractive giveaway, then the prices could be significantly lower. The landing page, in such instances, should also have convertible content. Your budget would fluctuate based on whether you are after simple subscribers or leads. Generally speaking, you could expect a spending of $.50-$1 for such a campaign. So, if you are after 10,000 email addresses stay ready to shell out $10,000.

Goal #3: Boost Website Referrals

To be frank, website referrals in Facebook cannot be bought. If a post has engaging headline, enticing content and some great images – it has a great chance of going viral. On the other hand a boring informational article really struggles to get clicks to your website. Coming to the costs, you might have to spend $.50-$.10 per link click to attain success. So, if you are after 100,000 website referrals it might cost you $35,000 (on average).

Goal #4: Higher Product Sales

The biggest headache on the minds of business owners is how to increase their product sales. And Facebook being ever crowded by prospective customers, opens up many gates for product sales. But there are various factors which impact the budgeting for such a campaign. You have to match the cost of the product. Suppose a product is priced at $100 (and is highly relevant for your selected user group), then you might have to pay $30 per conversion. So, approximately speaking, you can set a budget of $150,000 to get 5,000 sales opportunities.

Goal #5: Improving App Installs

So, your desktop or mobile app has been taking off at a pace that is much slower than anticipated. A well budgeted Facebook advertising campaign can change all that. Given that your app is solving a big problem statement for the potential users, you can set a budget of $1-$2 per app install. So, your end budget should be set at $10,000 for 5,000 app installs (taking $2 per install as the benchmark).

Now, let us give you some words of advice. No matter what your online marketing agency tells us, do not start off with a huge Facebook advertising budget. You need to always start with a small sum and then increase it with time. There are some great Facebook ad measurement tools available which you can use to track the success of your campaign and change it around from time to time. Use Keyline’s Digital Marketing Service and we would help you set the perfect budget for your Facebook advertising campaign.

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