Facebook Ads: How would you spend a $150 monthly budget?

On FB this budget is nothing, please invest lots more. Invest $5 a day, collect demographic data.

It probably works out to be the same unless you have found that certain days of the week are better than others. How are you converting sales? Is your ad going to your site or your FB page? On average, how many clicks from ads leads to one sale? I have run some ads and got 150+ likes from these ads, but 0-sales.

Make sure your sending your clicks to a fangated tab so you get a like and the viral effect. Then you can use the tab to redirect them. Youll end up increasing your traffic by about 30-40% from the likes.

Since you have had considerable success - which means your advts convert well - the next step I would focus on is not the budget but to optimize the creatives and targeting further to bring down the $0.30 per click you are currently at. I have found an interesting phenomena on many of my campaigns, which I always aim for: You will be amazed to find once you land on a creative with consitently really high CTRs, FB will slash down your bidding price more and more, so you will be spending less for more as you go. This 'streak' will anyway be disturbed if you ever pass the advt - in which case you are basically starting over - this is just my personal experience.

Once you have optimized your CPC to as low as possible without sacrificing on traffic, and you have identified your 'blockbuster' high performing creative with highest CTRs with your campaign advt group - the next step would be to convert it to CPM (Cost Per 1000 Impressions) - and you can be spending as low as $.05 for that and since its a proven advt with CTRs you should be saving even more now. However just keep a watch and monitor closely on advt running times while running on CPM - FB can quickly eat up your budget. You need to micro manage this.

Once you have optimized to this stage - then the budget is upto you on how much you want to scale and the returns you make.

Well, if you're in profit, you can always go higher, see if the profit goes higher as well. You can also test new areas/niches... test test test

The best thing to do IMO would be to use the entire budget just split testing two separate adverts. Even if you just change the headline on each one. Narrow them down further and further as you split test always going for the better one each time.

Only ever change one thing when split testing.

Finally, you'll have an advert which you know converts and can invest some real budget into it.

Even when I split test, I've spent $400 and upwards.

It's depend on your ROI.
I will set to specific people. To get highly targeted fans.

Yes. But if you can feed 2 people on $150/month, even better.

if you want to spend $150 monthly..you should spend $5 a day....
it in my opinion...

We run $10/day ($300/month) to our fan page and I currently have it down so well that I average 115-125 likes/day from $10..

I would do $5 daily, run non-stop. I pull fans from around the world that only speak English, which expands my reach. That way I can run post and interact ANY time of the day and STILL have people active.

:-)

-Josh

I would invest in paying for impressions, versus clicks.

Make it your ultimate objective to acquire $0.01 clicks. If you can get below $0.10 that alone will save you 3x your current budget (which in my opinion is high).

Test out different campaigns. I usually spend about $5.00 - $10.00 per campaign now to test out the click through ratios. The higher the click through ratio, the lower you'll be paying for clicks (via impressions).