00:02Now that we know how to determine your campaign budget, let's talk about how do we set budget
00:07in Aid Manager.
00:08First, it's important to remember that the budget you set in Aid Manager is not necessarily
00:14the amount you will spend.
00:16For example, you don't buy an aid campaign for $100.
00:20You instead indicate to Facebook how much you want to spend on an aid campaign over
00:25a given time period.
00:26So, if you set a maximum budget of $100 to be spent over a month but Facebook only spent
00:32$70 advertising that month based on their campaign performance, your bill will be $70.
00:38When you first set up a campaign in Aid Manager, you have the option to either set a campaign
00:43budget or set individual aid budgets.
00:46Setting a budget at the campaign level allows Facebook to dynamically assign budget to aid
00:51sets based on their performance, therefore maximizing your spending efficiency.
00:57This tool is known as campaign budget optimization.
01:00Setting a budget at the aid set level lets you control how much money you spend on each individual
01:06aid set.
01:07In general, we recommend setting your budget at the campaign level.
01:10That's because if you set your budget at the aid set level, you will end up paying more
01:16per desired outcome because you won't benefit from Facebook campaign budget optimization option.
01:22As we mentioned before, Facebook campaign budget optimization directs your advertising dollars
01:27to the aid sets that are providing the best outcome at any given moment in time.
01:32This means that if you have two active aid sets in one campaign, Facebook might spend 90%
01:38of your budget on the first aid set if that aid set is getting the most efficient outcomes
01:44based on your objective for the most part.
01:47Campaign budget optimization use machine learning to optimize your campaign budget.
01:51It's almost impossible for us humans to replicate their degree of decision in calculations
01:57while you may feel tempted to optimize your campaign budget yourself.
02:01We recommend enabling campaign budget optimization and letting the machine do the work for you
02:07if you choose to use multiple aid sets.
02:10Once you have clicked the campaign budget optimization toggle, it will prompt you to enter a budget for
02:15your campaign.
02:16Facebook offers two types of budget to control how much you spend on campaigns or aid sets.
02:22Daily Budgets and Lifetime Budgets We will briefly go over each.
02:26When you set your daily budget, you are setting an average amount you are
02:31willing to spend on a campaign every day.
02:33The actual amount spent can vary slightly day to day.
02:37Facebook may spend up to 25% more than what you set as a daily budget if they see potential
02:43for better results on a certain day.
02:45But if they spend more than one day with lots of opportunity for good campaign results, they
02:50will spend less on a day with fever.
02:52Which means your daily budget will always average out to your set amount.
02:58When you set a lifetime budget, you are telling Facebook how much you are willing to spend
03:02over the entire run time of your campaign.
03:05You will never be charged more than your lifetime budget.
03:08And in most cases, Facebook will aim to spend your budget evenly over your campaign lifetime.
03:14Let's say we set a lifetime budget of $700.
03:18We will then provide Facebook with the schedule on the aid set level.
03:22And once we have set up our aid set schedule, Facebook will know our full campaign runtime.
03:28And they will make sure to spread out the budget more or less evenly during that time.
03:33There are few more options we can use to optimize our campaign strategy.
03:37We will cover them in the next video.
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