How to set Facebook ad budget for small business

The value of online marketing has changed with time. Facebook Marketing is a new trend in online marketing. 

Well, today, we are going to discuss a fascinating topic, “How to set Facebook ad budget for small business. “ Most of the company lacks the social media presence which needs to be recovered. In this article, we will discuss Facebook’s marketing ideas.

If you are a startup or a small business, then this article is meant for you. Facebook Marketing for Small Business is what we are going to learn today.

But, before moving ahead, let’s see what Facebook can do for your business better to understand the topic Facebook Marketing For Small Business. It will also help you in planning for your Facebook Marketing campaign. Let’s start with the basics, so it will be apparent to you in the end “how to set your Facebook Ad budget.

Most business owners don’t take their social media presence too seriously. Are you also one of them? If it is so, let me tell you that you are losing a big part of your revenue and business growth. Let’s show you the importance of Facebook Marketing.

I know it is still not clear to many, especially to beginners. Time to stick to your chair; here is something special for you about Facebook marketing 2021.

Read till the end to get the complete information.

Well, do you have a Facebook business page? If yes, it’s ok. If not, make it now! For getting the benefits of Facebook marketing ideas, you need to have a Facebook business page.

Why is Facebook Marketing the best business growth Social Media?

Facebook holds many potential benefits for business growth. Below I am listing some benefits of having a Facebook business page. They are – 

1 – Low-cost marketing strategy – That’s true. Online marketing activities that burden your pocket can be done at a fraction of the cost. This thing makes it an ideal platform for Facebook marketing in 2021 for small businesses 2021. All you need is to create a perfect plan and engage in the content. Half of the work is done. , Find small business Facebook post ideas that are amazing.

2 – Reach – Facebook has billions of users. Find your potential customers. Create creative posts; share them on your Facebook business page, groups. Create a Facebook ad. Select your target audience, location, and interest. As I have mentioned above, it will not cost you much. You need to target the right audience. Facebook Marketing has more to offer than your expectations.

3 – Facebook Ad – Well, this point will be new for some of the readers. Facebook ads will surely increase your reach, but on the other hand, it also helps in growing your business page which is the most important thing. All you need to have quality content in your post. Make sure to make highly engaging posts and Facebook marketing ideas.

What is a Facebook ad, and how to set the budget for a small business?

Paid advertisement is one of the primary ways to impact the reach of your content to your targeted audience. 

Facebook Marketing consists of a paid campaign set up to increase the reach of your content or post. You may have seen many pages that you do not like, but somehow you meet the requirements set like location, interest, etc. That’s why you see those ads. 

How to set the Facebook Marketing ad budget?

Now how to set Facebook ads for small businesses. Here are some points which need to be followed for the proper working of your Facebook ad, which is worth your money. 

 Set goals for your Facebook Marketing 2021

Before you move ahead and create any adverts, it’s essential for you to think about why you are advertising and the goals you are aiming to achieve?

You need to set some goals before going ahead with live ads to measure your success. 

For example, if you set a goal of selling 1000 products in one month. Now, this thing will help you when you analyze the Facebook ad data after a month.

If you are confused about “what should be the goals.” Here are some examples for you.

1– Page likes – Your goal can be to increase the number of page likes. Having a potential audience on your Facebook business page is always a great plan. 

2– Generate new leads – This must be the most important goal if you are selling products. Are your Facebook ads campaign providing you with tips, and what is the ratio? Make a sheet of all the data so you can compare the success rate. 

3 – Timeline – Do your goals meet under the timeline you have set? A timeline is a must in the goal-setting process. It helps in the calculation of your success ratio under the timeline. It will also help you in planning for further Facebook marketing 2021.

4– Increase traffic to websites from Facebook – Have a sharp eye on how much traffic your website is getting from Facebook paid campaigns. It will give you an idea of how much you can profit from it.

Let’s make it a little bit easier. If you want new 1000 leads and each lead costs you $10, then for 1000 leads, your budget will be $10000. You can set the 1000 lead target for a month or year, depending upon your budget.

For a well-established business, collecting leads is not a big deal as they already have a well-grown Facebook business page. For startups and small businesses, planning is needed. Let’s do it.

Facebook Marketing helps you narrow your reach in a possible targeted way to maximize the impact of the ad. If you are wondering how? Here are some points which will answer you.

1 – Gender – You can choose the gender according to your requirements.

2– Location – Choose the location you want to target. If you want your ad to run in a specific area, you need to choose the location.

3 – Interest – You can filter the audience according to the interest. All you need to choose the audience which has a specific interest. E.g., “Travelling.” So all the people traveling as their interest will see your ad in the location you selected.

4 – Age – Further, you can filter your audience according to age. E.g., If you choose the audience of the age group 20-40, then people aged between 20-40 will see your ad traveling as their interest and in the targeted location.

For better understanding, you can see the image below and plan Facebook Marketing For Small Business.

Now, suppose your budget is $10 per day. How will you manage it?

Let’s get it with an example – 

After posting your content or image on the Facebook business page, you will see an option “boost post.” Click on it. Choose the location and age group you want to target. You will get the option of choosing the audience you want to select. 

Now you will see the “budget and duration” section where you will be asked to fill your budget. Now here, you have to analyze your daily or weekly budget. How much you can spend on a daily or weekly basis. 

Suppose you have selected 10 dollars as your total budget. You have four options. They are – 

Note – The reach will depend upon the preferences you have selected. E.g., Location, Gender, Interest, etc. The distance shown here is just an example. According to the ad set, it can vary, and the minimum budget will be $1 for a day.

1 – Set daily budget – You can set a daily budget for your ad campaign. Suppose you put $10 daily; then you will reach 2500 – 13000 people per day. 

All you need is to select the “1-day” option. The $10 amount will be deducted in 1 day, and you will get the ad reach as mentioned above. For more clearance, you can see the image.

2 – Set weekly budget – Now, if you have a $10 budget for a week, you will select the “7 days” option. Your ad will run for seven days, and the ad reach will be 330 – 1600 people per day. According to it, you will spend a total of $1.42 per day, as shown in the image below. You have to plan the post of Facebook marketing for small business 2021.

3 – Set two weeks’ budget – Now, if you are thinking of spending $10 for two weeks. You need to increase your limit to $14, as the minimum budget is $1 for a day. In this ad campaign, you will get a post reach of 230 – 1200 people per day, and it will cost you $1 per day as per the Facebook ad campaign. See the image below for more clarity.

4 – Set your timeline – In this option, you can set your timeline for the specified budget. 

E.g., I start with $20 as a minimum of $1 is needed for a Facebook ad campaign, and I want the ad to run for 20 days, then I will select the “run this ad until” option where I can choose the date. 

In the image, you can see the Facebook ad will run for 20 days. The post will reach 230 – 1200 people per day in this tenure, and $1 will be spent per day.

You can select the currency according to your specifications. All you have to do now is to set your Facebook ad according to your budget. Now, I hope you have understood “How to fix Facebook ad budget for small business. ” 

It is all for now. If you have any queries feel free to ask in the comment section below. Your opinion helps us in improving our services. Till then, stay tuned for more information.

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