If you’re new to advertising your business or website on social media, you probably have wondered how much does it cost to advertise on Facebook, right?
In nowadays driving traffic to your website is everything. With no traffic, there are no sales and thus no profit. That’s why more and more businesses are looking at Facebook ads as an important traffic source to leverage.More and more businesses are looking at Facebook ads as an important traffic source to leverage. Click To Tweet
But at what price?
Can you control how much you spend on your advertising campaigns using Facebook?
Let’s have a closer look and learn everything you need to know to run a Facebook advertising campaign without spending a dime over your budget.
Facebook Ads Gives You Total Control
Here is something I like, to have total control over my spendings.
Facebook Ads Manager enables you to have total control over your advertising costs. Whether you set a daily limit for an ad or the total amount for a campaign, you’re in absolute control.
You can edit your budget for your ad and/or campaign or stop the campaign altogether at any moment you want to. You’re always in control of your budget and how much you spend on your ads.
It is just a matter of going to Facebook Ads Manager, select your ad or campaign and stop it. This happens instantly so you won’t be charged anymore after the moment you decided to stop your ads.
How Facebook Selects Which Ads To Show
Like any other great social network, Facebook is always looking to improve its users experience on the site. They don’t want to push the limits and bother people. That’s why the amount of ads users see on their newsfeed is limited.
This makes perfect sense, I’d run away if all I saw were ads and ads popping up from everywhere.
You’re probably asking me: how does Facebook decide which ads to show?
Like your business, there are other businesses that are eager to show their ads too. When you create an ad campaign you are entering an ad auction to determine which business shows its ads. Your ads are competing against other ads from other players. The highest bidder wins the (auction) game.
Don’t be confused.
I’ll show how Mark Zuckerberg’s social network works on your behalf.
After creating an ad you define the total amount you want to spend on your ad and you set up its running schedule.
By default, Facebook delivers your ad to the audience that most probably will interact with it (through clicks, likes, comments and shares). Facebook will bid on your behalf in the auction so that more people will see your ad making it more effective.
If you don’t want Facebook to bid for you, it is also possible to set up your preferred bid and you will never spend more than what you want. (More on that later on.)
You are also in control of how much you spend by setting up a budget for the entire campaign and the schedule of your ads.
What’s The Minimum Amount You Can Spend On Facebook Ads
As you can see in the picture below, I set up my ads to lowest possible value.
Let’s get to the numbers — because that’s what you’re looking for!
- Budget – you have two options when it comes to setting up your budget: “Per day” and “Lifetime Budget”. In both of them, the minimum required amount is $1.00 USD/€1.00 EUR
- Bid – you may leave it up to Facebook to decide your bid on your behalf or you can set it here. The minimum required amount for your bid is $0.01 USD/€0.01 EUR. But, as you see, Facebook suggests that you increase it so you’ll have better chances of reaching your targeted audience
Your Ads Performance: Deciding What To Do
You can easily measure the performance of an ad by checking its daily estimated stats on Facebook Ads Manager.
If it’s not performing well, you can pause it, improve it and re-start it again.
Or, if it is doing great, you’re able to increase its budget and running duration.
How Fast Is Money Spent On Facebook Ads
How fast you spend your budget depends on three factors:
- Audience size
- Your pre-defined bid
- Your ad’s schedule duration
It’s quite simple when you think about it.
If your chosen target audience is very large, your ad will reach more people faster and thus it will spend its budget quicker. Also, if your bid is high the money on your budget will be spent more rapidly.
Your ad will continue to run while it is on budget or there is still time on its schedule. Whatever comes first will stop it.
How Facebook Charges You For Your Ads
Your account is charged everytime the total amount of all the ads reaches a pre-defined limit. If you reach that limit consistently, Facebook will automatically increase it so that you aren’t charged all the time. If you don’t reach that limit, you will only be charged by the end of the month.
You can always check how much you are spending by checking the daily cost estimate on the Facebook Ads Manager.
In the billing section you’ll find all the total amounts you’ve spent. If you notice some values that don’t seem to correspond to the limits and budget you set up, it’s only a matter of contacting the Facebook Ads support team. They will answer your query in almost no time and will help you.
As you were able to understand, you are always in total absolute control when it comes to advertising your website or business on Facebook.You are always in control when it comes to advertising your business on Facebook. Click To Tweet
You can set up your preferred bid, your daily budget per ad or per set of ads and campaign and your overall budget easily.
If your ads are performing well, you’re able to edit them to increase their budget and/or daily limits. If not, you can also hit pause, edit and improve them to make them work better.
At any time, you can check how much you are spending on your Facebook ads and be sure that if anything seems wrong you’ll be able to reach and contact Facebook Ads support team to check what’s going on. I did that once but I was the one to blame. My math and my time zone settings tricked me. 🙂
Do you need me to further explain Facebook advertising costs?
What’s your experience when it comes to controling how much you spend on Facebooks ads?
Just leave your comment below and ask me anything you want.
I’ll be glad to help you with your doubts and looking forward to read your personal stories.