Are you looking to automatically allocate your budget across Facebook ad sets and campaigns? If so, spend optimizer might be for you!
First, you'll need to make sure that you have the right settings in place.
For the campaigns you'd like Lightning AI to manage, do you:
- Generate at least 5 conversions per day of the event you want to optimize towards?
- Have a daily budget of at least 10 times your cost per event goal?
- Have at least 2 ad sets meeting the cost per event goal?
If so, spend optimizer is for you! There are a few situations where spend optimizer will not function properly:
- You're using lifetime budgets instead of daily.
- You're using campaign budgets instead of ad set budgets (campaign budget optimizer, or CBO).
- You have a cost per event that is less than 1/10 of your total budget. (e.g. your cost per event is $100 and your total budget is $500). In this case, we recommend that you move up-funnel to an event with a higher number of daily conversions.
If you currently have a high cost per conversion (greater than $100) and you have a small budget (less than 10 times your cost per conversion goal), we recommend using lowest cost bidding with a bid cap in Facebook. We recommend that you set this bid to 15% higher than your target cost per conversion.
Looking for help with spend optimizer? Message us for more details!