How to Find a Facebook Ad Budget Calculator for Your eCommerce
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As a business owner investing in Facebook ads, you’re likely wondering what your budget should be. Well, you’re now alone. Thankfully, using a Facebook ad budget calculator can give essential insight to help you approach your marketing budget question.
Remember, when it comes to advertisement budgets, one size does not fit all. This is because the budget varies depending on the industry and particular business.
That said, let us examine what Facebook ad budget calculators are all about and how to find one that works for your eCommerce business.
What Does a Facebook Ad Budget Calculator Do?
Are you wondering how much you may need to spend on Facebook ads to reach your goals? A Facebook ad budget calculator can help you find that number!
Most advertisers strive to hit a balance when running paid ads.
If you spend too little, you may not hit your conversion goals. But, on the flip side, spending too much can blow your marketing budget.
Fortunately, with a Facebook ad budget calculator, you can easily take out the guesswork from the equation and begin to make the most out of every dollar spent on your ads.
Types of Facebook Ad Budgets
Facebook ads budgets for eCommerce business owners typically exist in two forms:
This is the amount of budget you want to spend on your ads each day.
When you set a daily budget, you tell Facebook how much should be deducted for your average daily spending over a week.
For example, if your daily budget is $20, Facebook may spend up to $22.50 on certain days. However, they won’t spend more than your total budget in a given week.
This is the total amount you are willing to spend throughout a campaign. With lifetime budgets, Facebook will spread your budget evenly over the lifetime of your campaign.
However, to get the best results for your campaign, they may spend more on certain days and less on other days.
Why You Need a Facebook Ad Budget Calculator?
A well-devised Facebook ad budget calculator helps in the planning process of your marketing campaign.
It provides a clear direction for all your marketing efforts.
With a Facebook ad budget calculator, you can measure results from all your campaigns.
Having a Facebook ad calculator helps with budget allocation.
A Facebook ad budget calculator enables you to make the most of your limited resources if you are on a small budget.
How to Determine Your Perfect Facebook Ads Budget
Having a budget for your advertising can help you strike a perfect balance between your marketing campaign goals and finances.
So, before you use a Facebook ad budget calculator, it may be best to evaluate a range for your spending.
To help you find the best Facebook ad budget, you need to :
1. Consider your goals
Your goals for running a Facebook ad are vital factors for estimating your budget. So, what are the objectives you want to achieve?
Here are some popular advertisement goals:
Awareness: Here, the goal is to bring your business in front of your audience and make them aware of your products.
Consideration: At this point, you want to consider your product as a solution to their problems.
Conversion: The goal here is to make sales by converting your audience to paying customers.
Under each of these, there are 11 specific marketing objectives that Facebook allows you to optimize for.
2. Determine how much it will cost to reach your goals
Now, each marketing objective can have different costs.
For example, if you are running a campaign with brand awareness as your goal, you will most likely be spending less than if conversions were your goal.
Here is how ad costs works, Facebook operates a system known as auction/ad bidding.
This means Facebook will consider different ads and show the ads with the highest value. The highest value is a combination of ad quality, bid amount, and action rate factors.
What does this mean for you?
Your ad budget will vary depending on your goal, your target market, and when you choose to display your campaign.
3. Do a test run
Before committing your entire budget to your campaign, you want to perform a test run with a small amount. The goal here is to gather data to help you decide what you should be focusing on in your primary campaign.
A week of testing your ads should typically give you the performance data you need to guide you.
What Metrics Should my Facebook Ad Budget Calculator Measure?
Before we examine the best Facebook ad budget available today, here are some vital metrics your budget calculator should be able to measure:
Cost per results (CPR): CPR is the average cost of your results based on your campaign objective.
Cost per thousand impressions (CPM): This is the average cost of getting a 1000 impressions
Click-through rate (CTR): The CTR is the rate at which people are clicking on your Facebook ad.
Conversion rate: This measures how often your ads lead to a conversion.
Best Facebook Ad Budget Calculators online
Here are some top options for you:
This budget ad calculator by AdEspresso will help you determine the amount of ad spend you need to meet your marketing goals.
All you need to do is input your data (revenue goal, price of your product, CTR, CPM and conversion rate) in the left column, and your results (CPC, number of clicks, number of clicks, and number of sales) will show up in the right column.
This Facebook ad budget analysis tool allows you to calculate return on investment, cost, and return on ad spend on your Facebook marketing campaign.
With this tool, you can quickly analyze your Facebook ads using key metrics and get feedback on expected returns.
If you are looking to maximize your Facebook advertising costs, this tool can help you do that effectively.
With the Madgicx Facebook ad budget calculator tool, you can discover precisely how much you need to spend on your ads and your break-even ROAS.
It also helps you discover the number of sales and clicks you need to reach your goals.
Cost: 7-day free trial plan, $49 monthly fee
4. Released Solutions
Released Solutions allows you to input critical metrics such as the number of purchases you wish to get and your gross profit.
It then displays the estimated budget needed to get your desired results.
Getting your Facebook ad budget right is key in maximizing your ad marketing campaign results. However, while it can seem like a lot of work, a Facebook ad budget calculator makes figuring out your budget so much easier.
We hope this article on Facebook ad budget calculators helps you determine the perfect budget for your eCommerce ad campaign!
I'm the CEO & founder of ScaleCrush. You can often find me ranting way too much about BS marketing advice, fluffy and regurgitated content, and calling out gurus. I also happen to have my very own unoriginal thoughts about the stuff we're going through.
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