FACEBOOK ADS BUDGET: 5 GREAT FACTS YOU MUST KNOW ABOUT FACEBOOK

Facebook ads budget

What is the Facebook ads budget? If you’re new to Facebook or the digital world in the first place you might find this term strange to you, many people who use Facebook don’t know how Facebook get their money and they don’t know how to utilize Facebook to their advantage. Many business owners and private individuals are using Facebook as a platform to make lots of money, pulling in millions of naira in revenues, but there are other sets of people out there who think Facebook is all about chatting or posting pictures. Facebook is bigger than these, how do you think many businesses in this online space make their money? How do you think that your neighbor pulls in millions without running a single newspaper ad? These people make their money using Facebook ads and the more Facebook ads budget you can put into it the more money you will make. In this article I will be teaching you the secrets you don’t know about Facebook ads budget, I will teach you how Facebook works and how you can utilize it to make sales and pull in millions of dollars in revenues within a few years, yeah we will also talk on marketing and digital marketing in general. Stay tuned and let’s ride.

Facebook Ads System

You cannot talk about Facebook ads budget without talking about digital Marketing, with the advancement in technologies around the world, digital marketing is fast becoming the normal type of marketing, and the offline world and marketing system as we know it is fast becoming obsolete, people and business are finding their ways to social media because that’s where the money is. One of the ways to make money in business both online and offline is to follow the trend, as people and individuals are finding their ways online, you too should find a way to join the trend with your unique business ideas. Marketing is a term that is as old as this world, since business started, since the inception of entrepreneurship, marketing has been in existence, there are three processes a good or a product undergoes before its life cycle is over. These processes are

  • The discovery stage
  • The early stage
  • The maturity stage
  • And the decline stage

Discovery Stage

In marketing, on Facebook, and even in creating your Facebook ads budget, every product be it online or offline must pass through this stage. This stage is a stage where the product is birthed, this is the stage where the ideas on how to produce the product become visible to the business owner, this stage is where planning and execution become very paramount. For you to be able to get your product through this stage effectively, you must know a thing or two about business administration you must equally know a thing or two about business management, what you are doing at this stage is simply setting the cause of your business, you are setting and putting things in motion if you pass through this stage successfully, then the success of your product or services is assured.

The Early Stage

This is the second stage of your product, in this stage you have finished producing it, using the skills of an entrepreneur, in providing and solving problems you have finished producing the product be it online or offline, the next stage is the early stage, this is where the product or website is launched to your audience.

This stage is where your company or business experiences a boom in sales, every business or product must pass through this stage. That it is called an early stage doesn’t mean it must happen immediately, sometimes it takes a few years for your business or product to enter into the early stage, in this stage, there’s an influx of sales, and the money is coming in, you are happy, you are doing exceptionally well. This is the stage where many business owners make mistakes, most of them stop paying attention to Facebook ads budget and think that things cannot get any worse. Finally, your product enters the third stage

Maturity Stage

This is the third stage of your products, at this stage, you will notice a slight decline in sales, you will notice that the money and revenue are no longer pouring in as before. If you make the mistakes other business owners make when the product is in the early stage, your business is heading towards destruction.

Your Facebook ads budget will not be able to save you once your product enters the maturity stage, where your audience or customers are tired of your products, they are searching for alternatives and when they find them, your product is as good as dead. Let’s use an example, when Facebook was created many years ago, after a few months it enter the early stage, here many people ventured into the platform, it was booming, money was coming, and the Facebook platform was getting many signups daily, everything was moving fine, then it transcended to the maturity stage, here you will notice a decline in the number of people on the platform, in as much as it’s still the biggest platform right now but it’s in the maturity stage.

Many people spend thousands of dollars on Facebook ad budget and campaigns, to resolve this issue of people leaving Facebook, the CEO of Facebook had to reintroduce Facebook to us by changing the name and adding some new features, to stir up the desire in us for the app, this is the only way to revive your product or business once it has entered the maturity stage. The reason most people began to leave the Facebook platform is that many other similar platforms were introduced to them, and people looked for alternatives and then bought into that alternative. Finally, your product will enter the last stage

Decline Stage

This is the final stage of your product, when your product reaches this level, you will notice a tremendous drop in sales, this is where many businesses stop existing. Most wise business owners will sell their business if it’s a company or sell the website or even reintroduce another product, when your product reaches this level, no matter what you do, your product will find it hard to revive, the reason is that your customer and clients have found an alternative they’re comfortable with, no matter the amount of money you pour into Facebook ads budget, you will not be able to make things work.

The only remedy is to reintroduce the product in a whole new way entirely. When you remodel the product and reintroduce it to your market, your audience and customers will see it as a whole new product entirely and they will want to give it a try. Another way to do this is to employ the services of highly skilled copywriters, the best in the art of persuasion, and have them draft out good and powerful offers for you, offers that not even a mad man can refuse, when they draft out this offer, all you need to do is to increase your Facebook ads budget and market this new product with this new offers to the world, in doing this, sales will explode and the dead business will rise again.

If you are following me closely you will understand that in all these stages Facebook ads budget has a role to play, provided you are using the platform to market your goods and services, Facebook is the biggest social media site and to promote your goods well on Facebook you need to be grounded in marketing, digital marketing to be precise, it is what will help you scale your business to a whole new level.

How Much Should You Spend On Your Facebook Ads Budget

Many people have asked me this question, how much should one spend on Facebook ads? How much should my Facebook ads budget be and questions like that? This is where many business owners get it wrong, many so-called professionals get it wrong here, you don’t need to have any fixed amount for your Facebook budget.

I will explain this more using an illustration, assuming two friends started a business together, the same business with the same amount of budget, let’s say their budget at the beginning of the business is 100 dollars a week, then after the first week of using 100 dollars as their Facebook ads budget, they made 200 dollars in return as profit, making the total money they have to be 300 dollars, then friend A used 200 dollars to put back into the marketing system while friend B used his money to party and have fun, only to invest back 100 dollars into Facebook ads budget then after a year friend B business has crumbled while friend A keeps increasing his Facebook ads budget and expanded his business. Where will you say the reason for the failure of friend B’s business is from? From him or from the amount of money he puts into the Facebook ads budget? I will say both

This is the reason many businesses fail, there’s no specific amount to put into the Facebook ads budget for the marketing of your product, when you put in 1 dollar and gets 3 dollars in return, the best thing to do is to put in more money into your Facebook ads budget and get more in return, this is how successful entrepreneurs built their businesses. Don’t start a business online without reading this

Who Are Facebook Target Audience

When running your ads you will find out there’s what we call Facebook Target audience, these are the audience your Facebook ads will target and the beauty of this is that you get to set your target audience yourself. But before you set these audiences you must understand that your Facebook Target audience will determine how much money you will make, away from the Facebook ads budget, your Facebook Target Audience is what will determine how much your ads can pull in sales for you or your company.

When choosing your target audience, you should do a lot of research, the success or failure of your business depends solely on this, the first thing you must understand as a business owner is that not everyone is your Audience, don’t run a Facebook ad to target everyone, everyone is not your audience, for your ad to convert you must target a specific type of people, and how do you target these people?

The answer is simple, through the research you have made before running the ads. When you neglect research and set up your Facebook ads campaign, you have set your business up for failure, when making your audience research you should check out where your audience visit more often online, where they congregate, and you should detail down your search to even their age ranges, how much do they make per month, when you make searches such as this before running your Facebook ads or setting up your Facebook ads campaign, you will pull in a lot of sales because your ad will be presented to your target audience only and with a high Facebook ads budget, get ready to influx your market with sales.

What Is The Best Budget For Facebook Ads

If you’re a business owner or an entrepreneur in this online space you must have asked yourself this question many times, how much should I put into my Facebook ads, how much should my Facebook ads budget be? The truth is that there’s no specific amount for your Facebook ads budget, you can put in any amount that you can afford depending on the size of your business, if your business can support you put up to 100 dollars a week, then go ahead and put it in, if not you can reduce it, but the good thing is that you can always scale up your business.

Conclusion

We have come to the end of this article on Facebook ads budget, we have discussed in depth how the Facebook marketplace is, we have discussed the 4 stages a product must pass through during its life cycle, and finally, we were able to answer some of the questions people have concerning Facebook ads budget. I believe this article has been of help to you, feel free to comment your thoughts in the comment section, and don’t forget to share with your friends.