Are you ready for the largest fundamental change to Facebook advertising in years?
Did you know that Facebook is making campaign budget optimization (CBO) the default for Facebook ads?
What is Facebook Campaign Budget Optimization?
Facebook states the definition of Campaign Budget Optimization very clearly in the knowledge base:
Campaign budget optimization is a way of optimize the distribution of a campaign budget across your campaign ad sets. This means Facebook automatically finds the best available opportunities for results across your ad sets and distributes your campaign budget in real time to get the results.
1: Create Facebook Ads Campaign With CBO
First step, open Facebook Ads Manager, and in the main dashboard, click on Create. This will open one of the two creation windows. The window that opens will depend on how you have previously created campaigns.
2: Set Your Facebook Ad Campaign Bid Strategy
When the campaign settings open in the Campaign Budget Optimization section, you will now see an option to select your campaign bid strategy. Again, this was previously at the Ad Set level and Facebook has moved it to the Campaign level in this new method of creating a campaign.
With the Conversions objective, you’ll have the following bid strategies:
- Lowest cost
- Cost cap
- Bid cap
- Target cost
3: Complete Your Facebook Ad Setup
Now move to the Ad Set level by clicking the Ad Set button on the right side of the screen or clicking on the name of your campaign.
Once at the Ad Set level, complete the setup of your ad set as you normally would.
4: Create Your Facebook Ad
Finally, sail to the Ad level of your campaign and create your ad. Choose your ad format, creative, copy, link, headline or call action.