Understanding and determining how much to spend on advertising is a challenging task for any marketer.
Below are a few elements of marketing that you should consider when thinking about your budget.
Test and Learn
We recommend advertising with a test and learn mindset. There are many variables that will affect your advertising results, like who your target should be, to what message and creative you make for that target. It takes time to identity and test against each of these variables.
Because you’ll need sufficient data to optimize your campaigns, we require a minimum of $10 a day per channel, and we recommend running a campaign for at least two to three weeks.
How much money do you have that you can comfortably spend on advertising? Setting a budget before you start will allay any fears about starting an ad campaign.
Don’t Be Afraid to Change
As you start your campaign and watch your results, don’t be afraid to change your daily budget. Are you seeing good results from your campaign? Increase your daily budget to take advantage of it! Conversely, if you aren’t seeing positive results, pause your campaign, make some adjustments and try something new.