Campaign, Pricing and Scheduling Options for Facebook Ads
It’s time to pay the piper. How much are you willing to spend? You will need to complete the pricing and scheduling option for your advertising campaign. After you’ve completed the Targeting section, scroll down to the Objective section to select the goal for your campaign:
You can show your ad to people who are most likely to Click on Your Ad or Sponsored Story, which allows you to bid on the CPC model discussed earlier.
If you select to show your ad to people who are most likely to Like my Page, Facebook automatically changes your campaign to the CPM model and optimizes your bidding for you, as discussed earlier in the chapter.
Now you move down to Campaign, Pricing and Scheduling. This is the last section you have to complete before placing the order for your ad.
If you’ve created an ad before, you see a Use an Existing Campaign link in the upper-right corner. Click this link to select a previous ad campaign in order to group the ad with that campaign. This makes sense when you’re running similar ads and split testing them.
If you have run an ad campaign before, you won’t have to set the Account Currency and Account Time Zone options because you entered that information for your previous campaign.
To complete the Campaign, Pricing and Scheduling section, follow these steps:
From the Account Currency drop-down menu, choose the currency you’ll use to pay for the ad.
From the Account Country drop-down menu, choose the country you are in.
From the Account Time Zone drop-down menu, choose a time zone so that Facebook knows when to run the ad if you select specific times.
In the New Campaign Name field, enter your campaign name.
The default name is New Campaign, but you should enter something more descriptive. You can always edit the campaign name later if you decide to make it more descriptive. If you want to put this ad within an existing campaign, click the Use Existing Campaign link and select which campaign to use.
In the Campaign Budget field, set your daily budget.
When you reach the limit of your budget, Facebook shuts off your ad automatically. You don’t need to worry about spending more than you thought or forgetting to turn off your ads at the end of the campaign.
If you want your campaign to run during specific dates, clear the Run my Campaign Continuously Starting Today check box and then enter the start date and end dates by clicking the respective calendars in the Campaign Schedule section.
These settings are handy if you want to run your ad for only five days, for example, and then automatically turn it off. If you leave the check box selected, you have to remember to turn off your campaign.
If you chose See Advanced Options in the What Would You Like to Do section, you can Optimize for Clicks and choose your own bid or Optimize for Impressions and choose your own bid. If you chose Get More Page Likes or Promote Page Posts, you have the default CPM Facebook-optimized bid.
Facebook gives you a suggested bid range for the CPC or CPM model. You should use a mid-range price in the suggested bid range or possibly going a bit higher initially so that your ad appears prominently, and you can see whether it's converting. If you bid too low, your ad may not be shown and won't perform well from the start.
Click the Review Ad button at the bottom of the section.
You’re taken to a page that shows you how your ad looks and reviews your targeting information.
If you want to edit the ad, click Edit Ad.
When your ad looks good, click the Place Order button.
At the start of your campaign, it’s hard to tell whether you should pay for clicks or pay for impressions, so determining which method is better requires some experimentation.
When you select the objective of Get More Page Likes, you're using the CPM model. In this case, you pay for a certain number of people to be shown your ad. If you pay 60 cents for 1,000 people to be shown your ad, and only 100 people actually click it, you still pay 60 cents.
When you select See Advanced Options, you can use the CPC model. In this case, you pay for each click. If you bid 60 cents per click, and if 500,000 people are shown your ad and 100 people click it, you pay $60. In this example, it's better to go with the CPM option; both methods produced only 100 clicks, but the CPM option cost only 60 cents.
The general school of thought is that CPM is better for raising general awareness because you’re paying for the people who are shown the ad. CPC is more effective when you want a specific click or response. But at the end of the day, you’re trying to make money — not spend more. Test to see which method is cheaper for you.
After you place your order for the ad, the Facebook Ads team reviews your ad to make sure that it complies with Facebook terms. Depending on the time of day and the level of activity with Facebook Ads, this review can take anywhere from a few minutes to a few hours. Your ad status is Pending Review while your ad is being reviewed.
You receive an e-mail when the ad has been reviewed; the e-mail states whether your ad was approved and is running or whether your ad was rejected. If your ad was rejected, Facebook doesn’t tell you exactly why. The e-mail sends you the link to Facebook’s terms and conditions, and lets you figure out the reason on your own.