Daily Budget or Lifetime Budget? What is better?

[chriscxmpo]

Hi. I would like to know your opinion on setting up a paid advertising campaign? Do you use daily budget or lifetime budget? I can't see the reason why I will set up a daily budget if I could potentially get leads within the day.

Thank you.

 

[Garyman]

In which platform?

 

[chriscxmpo]

In which platform?

Thanks for the response. Primarily Facebook. but I'm also doing Bing Ads.

 

[Garyman]

Thanks for the response. Primarily Facebook. but I'm also doing Bing Ads.

In Facebook I used to put a lifetime budget for a few days and then let them decide how to spend it best. It worked fine.

 

[Trellian]

I agree with Garyman. If you're going to try Facebook ads, go with lifetime. Let them decide the best way and best times to spend with all the internal algorithms and data they've collected. Otherwise you're just forcing ads into a time/day that might not be most effective. If you give them a daily limit, they're going to spend that money and force it to work as best as possible for that day. However, the timing of when that money is spent every day may not be ideal. If you give them a period of time to spend that money they're going to use it as effectively as possible because if you're not getting results, you won't come back and spend more on advertising with them.

 

[hdkiller]

Daily budget usually works like splitting a day to small time slices (like 5 minutes) and capping your spending in that timeslice. Like you say your budget is $100. Then you will spend a max $100/24/12 per every 5 minutes.