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Facebook’s Campaign Budget Optimization – Did It Work? 🤷‍♂️

Facebook’s Campaign Budget Optimization – Did It Work? 🤷‍♂️

What’s up, you guys Jason Wardrop here and in this video I’m gonna do a little test So this segment of the video is shot April 30th 2019 and we’re going to test out Facebook’s campaign budget Optimization also known as CBO and I’m going to show you guys how to set that up here I was gonna go through and set this up for my own business run test cuz guys if you’re gonna be successful with Facebook ads, You always have to be testing everything all the new features different ads Audiences everything to get the maximum results. You can ever it’s not a set it and forget it type of thing You always have to keep things fresh creating new ads creating new audiences all this stuff And so I just want to kind of give you guys a behind-the-scenes look as you can see right here This is what I do and I’ll explain this here in a second But what I’m gonna do is come over here. I’m setting up this Facebook ad campaign for website conversions Now I like website conversions. That’s my favorite what I’m going and sending people to a landing page to generate leads So what we’re gonna do for this campaign budget Optimization you can see down here. You can check this on right there And basically what this does is when you go through and set up an ad campaign traditionally You choose your marketing objective and then once you get to this ad set level you’re choosing your audience You’re choosing where you want to place the ads and your daily budget or lifetime budget. Now the cool thing is with this campaign budget optimization It’s going to like if you’re spending $100 for per day for the whole campaign It’s gonna go through and spend that hundred dollars on whichever ad sets are performing the best K and then whatever ads are performing the best so Basically instead of like taking that budget to an ad set level is taking it to a whole campaign level So for this test what I’m gonna do and I’ll explain why I’m going to do 750 dollars per day and guys lots of times people stress and they freak out and they’re like, oh man, like, you know, I can’t spend ten dollars per day because they forecasted out for 30 days 60 days and you’re like I’m gonna spend $300 or $600 or whatever it is the truth is this is all for testing and you can usually get the data that you want from a Facebook ad campaign and know if it’s working within the first 24 to 48 hours. So if I look at this $750 times by 30. What is that? Probably like over? $20,000 for the month. Well, I’m not freaking out because I’m probably not gonna spend all $20,000 because after about 24 to 48 hours I’m gonna go through see if is performing see if it’s not Performing and then from there I can make a decision if I want to actually keep it running or not now the reason why I came up with $750 because initially I was thinking of creating it at $600 per day because my cost to acquire a new customer is on average bound like 530 dollars, so I thought if I’m spending $600 it’s enough juice to be able to go through and give Facebook the ad spend that can produce one new sale every single day but look here the reason why is because Hopefully I make this big on the screen right here, but you’ve got all these ads. This is always how I set this up So I’ve got all the ad ideas or previous concepts that have worked and then I have all the audience’s so lifetime value six-figure system purchases all my buyers The Arsenal mkg pixel an open-ended pixel and then also real estate interest So those are all the audience’s I’m not doing any retargeting in this so this is excluding any of my warm or hot market This is just going strictly to cold audiences. So this is how I do it I’m sure lots of you guys were looking at this and like man this this kids old school likewise. Just writing down on paper I like to visually see things I like to go through and every time I create a new audience or add I check it off and I just get Laser-focused for about 60 to 90 minutes however long it takes to go through and create all the different ad sets so the reason why I’m spending $750 instead of the original $600 per day that I was thinking is because I have six different ads. I’m going to be testing and six different audiences So 6 times 6 is 36 So if I was doing 36 at six-hundred, so let’s just do some math here $600 divided by 36 It’s only giving 16 dollars per day per ad set which the way a campaign budget Optimization works is it’s probably not going to give you know, an even 16 dollars every single ad set But I want to give it a little bit more juice to see how well this is performing and so I can see if it’s gonna be a win or not and so at 750 so we type in 750 divided by 36 That’s about 20 dollars and 83 cents per day per ad set, which normally when I’m starting new ad sets I’ll start them at a minimum forty to fifty dollars per day But like this one for right here testing this new campaign budget optimization I think twenty dollars per ad set per day is just fine. So Anyway guys, we’ll cut the video right now, and then I’ll come back in a few days Like I said, it’s April 30th 2019 So the very last day of April, so I’m wanting to get some new ad sets new ads new campaigns up For May and then here in a couple days. Once I kind of see the results then I’ll shoot that All right, so we’re about three and a half hours into the campaign And obviously I’m gonna show you guys here in about 24 48 72 hours kind of give you a full-on update But I just want to show you so I had $750 per day and we’ve got about a hundred and forty-three dollars spend. I just want to show you guys how this campaign budget optimization Distributes amongst the ad set so you can see right here getting about five dollars and 96 cents per lead Which honestly I’m a hundred percent okay with that. Usually I like to shoot for $8 leads I’m okay if it goes up to ten to twelve, but usually I like to average about eight bucks So this is well within the lead cost that I’m looking at but then look at this We have these different ad sets right here We’ll even zoom in a little bit so you can see it a little bit better but like right here this one there’s only been two dollar spent dollar sixty nine and forty eight cents, so it’s not distributing it evenly across all the ad sets and you can see all of these you don’t have any Results on any of these first ad sets 55 cents and then we come down here Once again still no results 20 cents 9 cents was very like this one only one cent has been spent on this particular ad and this ad set and then we moved down here and you start to get Some actual results right here. Okay, so we’ve got two Registrants right here two leads and it’s three dollars and 21 cents. That’s pretty good There’s about six dollars and 42 cents $8 spent right here, but no leads so Facebook what they’re doing like early on is they’re just Optimizing they’re kind of getting the feelers out there and there might have been some good like engagement with this one That’s maybe why they spent a little bit more money This one’s six dollars and thirty nine cents, but basically their algorithms at work We got three dollars and 42 cents right here three registrants. This one’s seven registrants at a dollar ninety-nine per registrant 351 and so obviously you can see the ad sets that are actually performing they’re actually performing a lot better than this 596 but obviously you have some that are a little bit higher case like this one right here $10 leads $9 759 now, I’m a dollar 58, but there’s only one coming in So anyway, I just want to kind of quickly show you guys a quick little distribution here So we got three leads coming right here at a twenty dollars spent already of the 143 687 but anyway, I just want to show you $4 for leads at dollar 76 just want to show you guys this really quick after it’s been about three and a half hours since this campaigns gone live and Then tomorrow and even 48 hours I’ll give you guys more of an update and then we can kind of see How this is performing and what actions I’m gonna take moving forward once we kind of get some more results coming in alright so we’re back and it’s been about 24 hours and you can tell because By zooming here. We’ve spent about seven hundred and eighty eight dollars and 32 cents. So 750 dollars for the daily budget which after 24 hours a little bit more than that. So that’s all spent So if you look right here my average cost per result You can see like lat like after a couple hours is only like 596. I believe it was Where’s now it’s 10 dollars and 11 Cents. So what I’m gonna do in the truth is Facebook Does this automatically they’re gonna go through and adjust and see like, okay You know these ad sets are not performing no leaves are being generated So they spent 15 bucks here twelve bucks ten bucks here. And so they’re gonna stop spending money automatically so technically I could probably just leave it as is and just let it run and Then Facebook’s gonna go see like, okay this one like is producing conversions five dollars and sixty-two cents and I’ll put more money towards that one and then coming down. You see $10 $11 for 24 This has seven conversions right here for conversions right here at 493 And they’re gonna automatically adjust it. That’s like the beauty of Facebook’s algorithm. It’s extremely smart but what I’m gonna do just to kind of help and kind of like force the add spin in the right direction is I’m gonna come over here and any of these not got a Lead even generated in the last 24 hours because the truth is guys When I talk to you about going through and letting your ads campaign run for four to five days That’s typical If you’re only spending five to ten dollars per day on your lead generation on your ad spend. Whereas I spend $750 in the last twenty four hours seven hundred eighty eight dollars right here That’s enough data to really know if it’s performing or not. So coming over here what I can just do And this is another thing this is another key point where a lot of people they’re like I say you know start out your advertising campaign at ten dollars per day and they freak out because they Forecasted over the course of 30 days, right? Where it’s like over 30 days you’re spending 300 dollars if you’re not used to that this kind of seems like a lot whereas like I started out at $750 per day which obviously with the campaign budget optimization. Even if I’m shutting off these ad sets. I will still spend $750 per day, okay So keep that in mind But I can force it in the right direction Of ad sets that I already know are going to be performing and basically kind of help Facebook’s algorithm here So what I’m gonna do is see all these ones like no results. I’m just gonna come over here shut them off Just go through quick. And then like what I like to do before like any of these other ones that like have actually generated leads I like to go through and see which ads in which audiences were actually bringing those leads in because I want to see if there’s any Consistency is it like a consistent audience is performing well time and time again or is it a specific ad this is performing super well, and so then If it’s a really good ad then I want to take that ad and try to test out multiple audiences Whereas if it’s a really good audience, it’s like let’s say this like open pixel right here Then I want to go through and test a ton of new ads inside of that audience So that’s something that you also want to go through and evaluate once you’re done to going through And shutting off all these other campaigns that are performed under performing. So like this one right here was like 23 bucks of leave That’s way out of like the range of where I want to spend per lead I usually like to kind of the max 1112 dollars But I like to shoot between the eight to ten dollars Li that’s kind of my my sweet spot. So coming down here I’ll just shut all these off So anyway guys I won’t kind of like have you watch me shut all these off But I just wanted to break down the strategy show you guys a live look into this campaign budget optimization the strategy of how I set it up and then after a couple of hours how those performing after 24 hours once we got some data in Because I don’t know like I think it’s helpful for you guys to kind of get an inside look of how I’m running my ads And how everything’s performing so that you guys can kind of see a little bit behind the scenes So if you guys did find that helpful, go ahead and give this video a thumbs up also drop a comment down below Let me know what you thought Or if you’d like me to dive deeper into this campaign budget Optimization stuff. I have no problem going through and sharing with you guys some different things there. So Anyway, once again, thanks so much for watching this video. Make sure you hit that thumbs up button It really helped get this video. See you. Bye a lot more people. So I appreciate that if you’re brand new hear it make sure you subscribe because We launch new videos every single week on how to generate more leads make more money and grow your business So with that said guys, thank you so much for watching and I’ll talk to you all later

9 thoughts on “Facebook’s Campaign Budget Optimization – Did It Work? 🤷‍♂️

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  2. Can’t seem to target the right audience within the US, we are targeting low cpc right now but not sure how do do it within the US

  3. Hey Jason, is Arsenal MKG A platform that I could use if I was working for multiple agents and running their social media?

  4. Hi Jason, Hope you are doing well.
    I want to know that how can i set multiple ad set with differenet audience and locations.
    and the other thing you spend $750 does it generate any purchases.

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