What is the difference between a daily budget and a lifetime budget in a Facebook campaign?
The difference between a daily budget and a lifetime budget in a Facebook campaign lies in how the budget is spent over time.
Daily Budget:
With a daily budget, you set the maximum amount you're willing to spend on the campaign per day. Facebook will aim to evenly distribute this budget across each day of the campaign.
Lifetime Budget:
A lifetime budget, on the other hand, allows you to set the maximum amount you want to spend over the entire duration of the campaign. Facebook then optimizes the spending based on when it's likely to be most effective, which can result in uneven daily spending.
Expert’s Tip:
“If you have the chance and the budget to conduct small pilot strategy tests, then do it. I suggest investing 20% of your budget on new and optimal opportunistic actions to explore and 80% on tried and true” - By Kristin Gallucci Consultant & Fractional CMO, Modern Marketer, Semrush Social Media 2024 Trends Report
In essence, a daily budget controls spending daily, while a lifetime budget controls spending over the entire duration of the campaign. Ultimately, the better option depends on your campaign's specific needs and objectives.
Optimizing Facebook Ads for Better Performance:
Here's related information that you may also find helpful – Marketing Spend Statistics [Time to make informed decisions].
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