Wonder what a $75,000 daily credit line on Facebook looks like?

Screen Shot 2013-12-18 at 10.53.41 AM

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.

Screen Shot 2013-12-18 at 10.18.59 AM

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:

Screen Shot 2013-12-18 at 10.30.32 AMYou could request an increase if you have a rep. Rarely have we seen these ever get denied — why would they?Then you start getting emails like this:

Screen Shot 2013-12-18 at 10.34.07 AM

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:

Screen Shot 2013-12-18 at 10.38.15 AM

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.

Screen Shot 2013-12-18 at 10.50.44 AM

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:

Screen Shot 2013-12-18 at 10.50.02 AM

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.

Screen Shot 2013-12-18 at 10.52.04 AM

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.

Screen Shot 2013-12-18 at 10.52.46 AM

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.

Maybe they:

  • 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
The frank answer is that if you’re spending money on Facebook, they’re more likely to pay attention to your request. It’s no different at Google, twitter, LinkedIn, or any ad-supported company.

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.

Facebook Marketing

Mediabistro Event

Facebook Marketing

Starting January 13, work with the group marketing manager of social media at Microsoft/BingAds to grow your business on Facebook! In this course, you’ll learn how to set up your company page, understand Facebook best practices, and execute a monthly content strategy. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Assistant Editor

8 Inc.
New York, NY

Copywriter & Editor

GlobeOne
Santa Monica, CA

Director of Marketing & Communications

Neumans' Kitchen
New York, NY

Social Community Manager

VISIT FLORIDA
Tallahassee, FL

Editorial Director

Phoenix House
New York, NY

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us