What is Budget Allocation?
This feature allows you to automate the allocation of daily budgets between Ad Sets within a Campaign.
This will ensure you that you’re spending your budget on the Ad Sets that gives you the best results for a given goal.
How do I use this feature?
- Go to Optimization.
- Choose a Campaign you want to use Budget Allocation on.
- Click "Setup Budget Allocation"
- Choose whether you want to optimize CPA or ROI.
- If you want to exclude any Ad Sets in the Campaign from budget allocations, please unbox it in the drop down.
- Choose attribution window for the budget allocation.
Facebook standard is 28 days after clicking and 1 day after viewing. If you're unsure about this, please leave it to the standard setting.
- Choose conversion event you want the algorithm to calculate CPA/ROI on.
- Set total daily budget for the Ad Sets included in the budget allocation.
- Confirm the settings made and then hit the button "Activate Budget Allocation".
What can I expect from this feature?
You will not have to worry that your total daily budget will be spent foolishly. Since our intelligent algorithms will make the decisions for you, the changes will be fully rational and according to the predicted outcome for the next day.
Use Case: Targeting Exploration
Let's say you're prospecting for customers in a new market. You have a lot of different ideas on targeting to experiment with. A couple of different Lookalike Audiences and some Interest-based Audiences. Let's say there's a total of 6 Ad Sets in your Campaign.
Since you don't know how these Ad Sets will perform, you don't really know what daily budgets to set. So, let's say you're setting $100 for each Ad Set, resulting in a total daily budget of $600.
The problem: Manually calculating an optimal daily budget for each Ad Set in this Campaign will be time-consuming, not statistically optimal and simply really difficult. By using this AI-based algorithm, it will set the daily budget on every Ad Set in the campaign to the most optimal, with audience size and results taken to account. In other words: The exploration of these 6 audiences will be fully automated and your ad money will be spent where you get the best results.