When you click on the "Manage Bids&Budget" button on the upper right corner of the page, you can reach the Budget page. As the name indicates, this page allows you to see how much you’re spending, either on a daily basis or over the life of a campaign, depending on the type of budget you set. It also shows how much you’ve spent so far for your ad sets. From this page you can also make adjustments to your spend easily if you want to. The performance indicators that are also accessible from this page in order to simplify the two-step process of analyzing and optimizing.
The following example is for a campaign with a daily budget. The top of the screen shows first of all how much money this campaign has cost you to date. It also gives the current daily budget. Then there are four sections that follow: budget, spend limit, bid settings, and scheduling.
If you have a daily budget of, say, 250 dollars, then you will have an overview of how the money is allocated to each ad set, how that compares percentage-wise to the other groups and have a real-time display of how much has been spent to date. Here we have the first part of the screen showing a percentage slider for "Budget Allocation".
Remember that if Marvin is activated you won't be able to do the allocation and the screen will look like the screenshot below.
We see the different ad sets and a visual depiction of how the money is allocated among the different groups. Under "Budget", you can see the actual amount followed by a padlock symbol, which enables you to lock in that amount if you are sure you don’t want it to be adjusted while you are re-arranging the other ones.
If you want to set a lifetime budget limit on top of the daily budget for the campaign, then you should put that amount in the empty space. For example, if you have a daily budget of 500 dollars, but only 1000 dollars to spend, then you would enter "1000", whereby your ad campaign will run until the money runs out.
However, if you don’t need to set a spend limit, then you can leave this space blank.
When it comes to determining the actual bid you are placing, you need to decide what to pay per after selecting the Optimize Ad Delivery For and Conversion Event options properly in line with your campaign objective and expectations from this campaign. Afterwards, you need to place your maximum Bid Amount that you can pay per each selected billing event.
Like at a real closed auction, you place your bid by entering the bid value and then the auctioneer, in this case Facebook, takes it from there.
Keep in mind that if you are using Marvin, then you will not be able to make any changes on the bid amount as well. Marvin will take care of all bidding issues of your campaign in order to meet your Target CPA.
When we run an ad campaign we have the option of allowing it to run continuously, or of letting it run only for certain time periods or on certain days. Ad scheduling let’s us determine what days of the week our ads will be shown on, and if our budget is a lifetime one, during which hours.
Here’s what you will see while using daily budget:
By removing the checks from the boxes, we can stop our ads from running on those particular days.
If you have a lifetime budget, you can also choose the times during the day when the ad will run like in the following example. The scheduled hours will be shaded in blue.