In the words immortalized by Abraham Lincoln on that fateful Tuesday morning;

“Facebook ads jus’ hit different though”

If you’re reading this, then you likely understand the power and potential of social media advertising AND, I'm willing to bet, you’ve asked yourself, “how much should I be spending on advertising?” Good news - this one’s for you! And you and you and you!

How Much Should I Shell Out for Facebook Ads?

Today, we're tackling the ever-elusive question that's haunted every business owner since the very dawn of time itself!: "How much should I spend on ads?" Well, look no further. Hold onto your green visors and calculators, this could get bumpy.

1: Budget Balance Beam

Imagine you're at a buffet – except it's not food, it's ad spend options. You've got the dollar menu, the medium combo, and the whole shebang. But here's the secret sauce: there's no one-size-fits-all answer. It depends on your goals, your business, and how many artisanal, locally-roasted, hand-poured Cara-nilla lattes you need to survive this journey.

2: Odyssey Of Objectives, Obviously

Before you toss a coin to your witcher or into the Facebook wishing well, define your objectives. Are you out to get clicks, likes, purchases, or spreading the word for an event? Different objectives, different pockets to dig into.

3: An Audacious Act of Audience Arithmetic

Think of Facebook as your local hipster café – you wouldn't invite everyone you know, just the elite few who dig your vibe. Narrow down your audience to those who really care about your cat-themed sweaters or bespoke fanny pack collection. Narrowing your targeting will help you keep your CPL as low as possible maximizing your ad budget.

4: Bidding Without Breaking the Bank

Here comes the bidding battleground. You can go all out with "Lowest Cost," opt for a more refined "Target Cost," or even set a "Bid Cap" to stay in control. It's like bidding at an auction, but instead of vintage comics, you're fighting for ad space, visibility and peoples’ shockingly and frustratingly short attention spans.

5: Timely & Tactfully Testing

Welcome to the Groundhog’s Day** of trial and error! Just like when you thought a spaghetti and meatball sandwich was such a good idea and that you were really onto something. (spoiler: it wasn't, and you weren’t), Facebook ads need a bit of experimentation. Test different budgets, audiences, graphics, ad copy and ad types until you find your marketing sweet spot that maximizes your ROAS and total ROI.

** (yes I’m talking about  the 1993 CLASSIC Bill Murray reliving the same day over, and over, and over. If you don’t get the reference, stop reading this, go watch it, I’ll see you back here in 136 minutes. you're welcome)

You Made it! You're a pro now! You've made grandma happy.

(But wait...there's more!)

Epilogue: The Budgeting Breakthrough

So, what's the verdict on how much to spend? It's all about balance. Don't drain your budget like a juice cleanse, but don't scrimp like you're back to your dorm room eating ramen noodles with dino-nuggets. Be willing to adjust and adapt as you gather data and insights. 

If you were hoping for a more direct answer, here’s my two cents:

If you’re looking to grow a new product, service or take on new clients aggressively, 10-15% of revenue. If you’re looking for stable, predictable growth, 7-10% revenue. And if you’re happy where you are - 3-5% to maintain market share and presence.

And there you have it, my brothers and sisters in marketing-arms – the art of allocating Facebook ad dollars without losing sleep. 💰📊🚀 

And, hey, if you want help - that’s what we’re here for. 

Seriously. It’s, ya know, literally our job. 

Book your strategy call with us now! 

We custom tailor strategies for each business we work with because there is no such thing as a successful cookie-cutter marketing campaign. 

So click the link, pick a time, and let's get growing! Did I mention it’s a free consultation? Yeah, no, I definitely did.

In all seriousness, what are you waiting for, why are you still on this page reading these last sentences? Go on. Click the link and schedule your call.