You probably know that campaign budget optimization is hard if you use Facebook for digital marketing and advertising. It can be unpredictable to gauge how much money to spend when advertising to a specific audience unless you’re a giant data company with a treasure trove of data. Facebook has launched Campaign Budget Optimization (or CBO) to make things a little easier for advertisers.
You can automatically manage the campaign budget across ad sets using CBO Facebook campaigns to get the best results. A single budget is assigned to each campaign. Your budget is continuously distributed to ad sets with the best opportunities throughout your campaign.
The process: How it works
You set one overarching campaign budget rather than individual ad set budgets. The budget can be structured so that more money is spent on ad sets with the best chances for success and less on underperforming ad sets. A daily budget can be set for a campaign, or a lifetime budget can be set for the campaign as a whole. You can choose to run ads according to a schedule when using a lifetime budget. Then CBO will work even if your active ad sets start and end at different times.
Budgets may not be allocated equally for each ad set by CBO. For instance, if you have two active ad sets in your campaign, we might spend 90% on one ad if that’s the best way to get the best overall results. Because of this, it is important to analyze results at the campaign level rather than at the ad set level when using CBO.
When it comes to CBO, you can:
- Set a campaign budget that is flexible enough to change how it is spent across ad sets.
- Make your ad campaign as cost-effective as possible.
- Manage fewer budgets manually by simplifying campaign setup.
Do I need to prepare for Campaign Budget Optimization?
Facebook has notified you that your account will be converted to CBO in September, so it’s time to get ready now. Upon implementation of this feature, existing campaigns, as well as new ones, will be transferred. We recommend taking these steps now to prepare yourself for this huge change.
Immediately begin testing CBO
Either new campaigns or existing ones can be used for Campaign Budget Optimization. Ad sets for current campaigns must have the same objective. For example, an ad set optimized for engagement cannot be combined with an ad set optimized for conversions.
Utilize the advice above to analyze the results
Analyze the performance of the campaigns, and if Campaign Budget Optimization is underperforming, figure out why, and adjust your setup as needed.
Campaign Budget Optimization should not be tested during September because it is too close to the end of the quarterly holiday shopping season. In September, ad prices can also be high, so it is better to test during summer when ad pricing is lower, and there’s less urgency.
Do something nice and relax
That’s it! You’re done! Now, you don’t have to struggle to set a budget for your audience’s ad campaign. With Facebook’s Campaign Budget Optimization feature and useful tips, you can automate more of your work.