Introduction to the Marketing Lyfe Podcast Ep. 130
Episode 130 of the Marketing Life Podcast. This is Taylor Timothy, your host. And today we’re gonna be talking about some pros and cons that I personally have found with the budget optimization tool. So I found it to be good. I’ve found it to be bad. And today what do I do? I will tell you in this episode. Let’s not waste any more time and dive right in.
Pros and Cons to the Budget Optimization Tool
So guys, let’s talk about the campaign budget optimization tool. When might I use it? When I might not use it? Let’s talk about it.
Pro: Delivers Your Audience Altogether
So some of the pros that I found with the campaign budget optimization tool is if you go in there and build out tons of different audiences that you’re targeting on an ad set level, that eventually, yeah, Facebook will start to deliver that ad set up and hopefully get you the leads and sales that you’re looking for.
Con: Only Delivers to One Audience
But one of the cons I found is it seems like once it starts pushing that particular audience and only that audience, it only starts to deliver that audience. And it’s like, well, what about the other ones? So, a lot of times you want to be able to go in there as a marketer and test and be able to say, “Hey, Facebook is this audience actually worthwhile?” Because sometimes I’ve noticed with the campaign budget optimization tool is it doesn’t feed those other audiences once it’s going. So that’s one of the cons I found with the budget optimization tool.
When Do I Use the Budget Optimization Tool?
Um, when do I personally use the budget optimization tool? I use the budget optimization tool when I’m going nation wide and I’m looking for the most leads, and I have a bigger budget is the answer to that.
Example of When Do I Use the Budget Optimization Tool
So, and I’ll give you an example. I’m running some ads for a company and they have three different offers that they send out. And these three offers are always going out and we want all those offers going out all the time. So in this particular case, we don’t run with the campaign budget optimization tool because, then it starts delivering one of the offers and not the other ones. This is just one of the nitpicky things that this particular company wants. So, we don’t use the campaign budget optimization tool. We use a bidding on the ad set level. So every offer gets the same amount of money spent on it every single month. So that’s the strategy that they use.
My Example: Lead Gen
So the I’m actually using the campaign budget optimization tool right now for lead gen. And they’re a nationwide and we’re generating leads for them. And basically, it doesn’t matter where the leads come from. Basically we want to optimize our campaign for each state. So whatever state is going to deliver the most leads, then we want it.
So to give you an understanding of how I’m running this as well is I have my campaign. And then in my ad set level, I’m targeting different States and then I’m letting the budget optimization tool target the States that are going to generate the most leads for us.
So that’s a little tip and trick there with the campaign budget optimization tool and how I leverage it. Some of the pros and cons that I found with it, you know, all in all it’s, what’s producing the results and how, as long as that’s getting done, in my opinion, use the campaign budget optimization tool. If it’s not generating the results, then don’t use it. So it’s really on a per situation basis that I decide personally, if I’m going to use that tool or not going to use that tool.
Conclusion to the Marketing Lyfe Podcast Ep. 130
So thanks guys for listening to episode 130 of this podcast. If you guys have questions about the campaign budget optimization tool, feel free to reach out to me. I’d love to answer your questions, collaborate with you. Other than that, guys, peace.