FB Pixel Learning & Why Budget Matters:
Solar Pros: Budget is the lifeblood of any FB campaign. But more is not necessarily better and some might not be enough.
Let’s talk about it!
But first, my names Tim I’m head of the FB dept for Prospect Bacon.
OK. SO. DAILY BUDGETS: Facebook says that you want between 20 & 50 conversions each week to “optimize” and exit the “learning phase”.
So what does that look like?
One quick aside about the learning phase: this is where your ads..well,learn. The pixel doesn’t learn or get smarter over all, but each ad you run DOES get smarter. The way it gets smarter is by counting the actions you tell it to (IE leads/conversions). It’s like rewarding a pet for doing something you want it to do. When your ad gets a lead you tell it “GOOD BOY” and it dutifully goes out and tries to find more of them.
A Healthy budget for solar lead gen on FB
Here’s a quick example of what a healthy budget looks like if you were getting $40 leads in an area and needed to get 20 conversions in a week to optimize.
$40(cost of a lead)*20(conversions)/7(days in a week)=$114/day
Here’s another, same lead cost but 50 conversions:
$40(cost of a lead)*50(conversions)/7(days in a week)=$285/day
So depending on your local factors, and FBs best practices you would need to be spending between $114 and $285/day to exit the learning phase, at $40/lead.
In my experience, regardless of what FB asks for, to exit the “learning phase” you will need a $100/day budget range with 1 campaign and 2 ad sets. With each ad set running 1 copy/creative combination.
Effectively giving you a maximum of 2 areas you can target, with one copy/image combination in each area.
Budget, Diluting Ad Results & Wrap up
I would not recommend any more variations than that otherwise you risk diluting your ads.
Diluting your ads can lead to a couple different (bad) things…
1. You have to spend WAY more money before you start being results (bad) or…
2. Even worse, you spend a ton of money and get no results fast, get discouraged and quit having gotten no where 😕
There is (as usual) a lot more to this than I can put in this article. But this should give you a decent rule of thumb for most markets. If you want to talk in more detail you can hit me up in the DMs or get a hold of someone on the prospect bacon team right here 👉 https://www.prospectbacon.com/consultation?source=Tim%27s%20Post to discuss having us do this for you!
PS Got distracted and forgot to drop this yesterday…will try to stay regular in the future!
Until next week 🍻