Wonder what a $75,000 daily credit line on Facebook looks like?
When you start off on Facebook, they give you a tiny daily budget. This is like training wheels for new accounts — to prevent accidental overspending. And it also is in place to prevent spammers from jacking up huge budgets, since there’s a market for selling new accounts that eventually get disabled.
As you ramp up, your daily budget automatically goes up.
So if you have a big campaign coming up, creating a brand new account with a low spend cap could frustrate you. If you’re an agency, you might just put this campaign in your existing ad account, but still create a new account for the client. Here’s why.
And here’s what Facebook has to say about your daily spend limit:
Note, this doesn’t mean that you’re going to spend more money, you just have a larger credit line. You should still be managing your audience sizes at the ad level and daily budgets at the campaign level this way.
And if you have a lot of campaigns in one account, the daily budget for the account overall can be tricky to manage:
We say that boosting posts is evil, since it creates a new campaign each time. Start and end dates are at the campaign level, not ad-level, unfortunately.
As you grow, you get nice email notifications, like this one at $500 per day.
If you’re an agency managing Facebook ad spend for a client, you may want to consider charging partially by percentage of spend, as opposed to purely a monthly retainer. As you ramp up spend, you’d make more.
Of course, this creates an incentive to just spend more, which is why we recommend a mix of retainer plus percentage of spend. Or if you have a direct marketer as a client with strong analytics in place, you can bill by performance (20% of margin above a threshold, for example).
After 3 or 4 days of hitting your daily caps, you get bumped up automatically to the next level:
In this case, we’re looking at the rapid growth of our friends at Infusionsoft, who have outlined their techniques for B2B lead gen on Facebook.
Once you hit $1,000 a day, you should have an account manager at Facebook — someone who tells you about new features coming out for your vertical.
Facebook organizes their sales team by country and vertical. So, for example, you might be in retail, CPG, automotive, and so forth. Not unexpected, given that Sheryl Sandberg, Facebook’s COO, had run global online sales for AdWords. They follow a similar structure.
Here’s the email notification you get at $3,000 per day, which puts you at almost $100,000 a month in spend if you hit your caps each day.
At this point, you’re likely to have hundreds of ads in perhaps dozens of campaigns. Each campaign should have ads competing for a particular objective (not multiple) and be aligned with your sales funnel.
We recommend using the audience, engagement, and conversion strategy. You probably also have a group of campaigns with low budget you use to test new ads, with a “production” campaign of high budgets that you promote ads into.
We get a lot of requests from agencies and entrepreneurs who are having problems with their ads accounts.
- got shut down from too many disapprovals
- are operating in a sensitive area (gambling, health supplements, e-cigarettes)
- are trying to change the name of their page
- had their page hijacked by a rogue employee
- or had some random question
So if you’re lucky enough to be one of the guys who is spending $75,000 a day on Facebook ads, then you get special treatment. But if not, figure out how to grow your business profitably to that point.
There’s a great community here on insidefacebook.com with people of all walks of life. Go ahead and ask your questions below! We’d love to hear from you.