Should I increase the budget

i don't think adding more budget lowers the CTR, just as less people are interested in the ad, the CTR comes down.

I always watch the frequency, once it gets over 1.0 you know that people are seeing the ad for a second time and you maybe wasting your time/money if they still aren't interested (if that makes sense:-)

Adding budget is always a good idea but you need to play around and have a few experiments to make it successful.

Example of my bidding strategy.

You start from Cost Per Click SUPER LOW!

Max Bid USD 0.12 - Suggested Bid: 0.72 - 1.05 USD

After minutes you'll start getting impressions and clicks

But after minutes, 1 hour, few hours and not getting impressions or clicks,

just UP or Increase your BID just for a few cents from 0.12 - 0.25

And just observe again the impressions and clicks

So the trick is, Incease your BID from few cents example: 0.12 --> 0.25 --> 0.35 ---> 0.50

Until you can see the impressions and clicks that you're looking for (the $$$$)

IMPORTANT: Those tricks are useless if you are not targeting your audience properly.

REMEMBER to target your audience with the same niche or use a software that can extract USER ID's from groups or pages that's similar to your product or services.

Good luck!

I agree with darkc0de1, you can't just blindly dump money and hope for the best. Do some split testing, try something new and see if it works better.
If you don't get the desired result, you can always come back to this and dump more money into it.

I wouldn't go over $10 on Facebook ads. Facebook automatically optimizes your campaigns based on your budget and goals. In my testings, it only raises my CPM when I try increase my budget, with slightly better results. In other words, my ROI goes down as I increase my budget. I simply keep my campaigns between $5 to $10 per day.

All you just need to do is what they called "Split Testing" and Bid adjustments. You cannot get a successful ads w/o experiments.

Usually if you raise the budget the results tend to go down. You can usually do best by copying the campaign in the power editor and then making slight changes to the audience or creative. You can then compare the campaigns to see which works better.

Don't increase budget from $5 to $100 in a single day.
Do experiments and testing and analyze the performance of your campaigns.

increase it if u think its a good camp and making good money
if not dont think about it
always test it first
please if you found it useful or u like it press on the thanks button !

If your ROI is 150-200% why are you not increase your budget, it's dumb not to.

You're basically making money, why're you even asking if you should.

With better CTR and higher uniques your ad cost would even be cheaper.

It is better to try sharesocial.co before considering to increase your budget.

You will be able to achieve more likes withing your budget.

On the basis of my experience, it saves you money and increase likes.

You know that Facebook has different option on Ad Campaign. You can set age range, Geological area etc. So, if you are targeting huge amount of traffic it won't lower the CTR. Hope you got my point.