Let's be honest. No one loves budgeting. That's why we are here to help, and hopefully save you the hassle of some serious number crunching. In this guide, we'll walk through proven tactics to help you determine the right budget to use with your Proxima audiences.
TLDR
Launch all 5 audiences, each with the same budget
Spend should be at least 2x your in-platform CPA
Start the ad sets on ABO
Set Your Budget 💰
As you can see in the names of our audiences we begin by testing several shopper profiles for your category (high AOV, recency, LTV etc.) The goal of the first 5-7 days is to spend against each of these 5 audiences at even levels with budgets substantial enough to observe significant performance differences between them.
If you are spending less than $100k per month account-wide:
We recommend setting each ad set to at least 2x your in-platform CPA. This gives Meta enough budget per ad set to start producing conversions quickly and help you evaluate where you should start shifting dollars.
Okay, let's do some math. Say your in-platform L30D CPA is $60:
$60 x 2 = $120
$120 x 5 audiences = $600 daily
If you are spending between $100k - $150k per month account-wide:
We recommend setting each ad set to at least 3x your in-platform CPA. This gives Meta enough budget per ad set to start producing conversions quickly and help you evaluate where you should start shifting dollars.
Okay, let's do some math. Say your in-platform L30D CPA is $60:
$60 x 5 = $300
$300 x 5 audiences = $1500 daily
If you are spending more than $150k per month account-wide:
We recommend setting each ad set to at least 5x your in-platform CPA. This gives Meta enough budget per ad set to start producing conversions quickly and help you evaluate where you should start shifting dollars.
Okay, let's do some math. Say your in-platform L30D CPA is $60:
$60 x 5 = $300
$300 x 5 audiences = $1500 daily
💡 Tip: If you plan to run other LAL sizes or broad audiences within your campaign, we recommend using ABO or setting minimum spend constraints on the ad sets
Working with Limited Budget?
No problem! Reach out to our team for recommendations on which audiences to start with based on your brand. Alternatively, here are some tips to make the most out of a limited budget:
Try running our audiences under a cost cap. This helps Meta get the most conversions by maximizing efficiency of your budget against your goals
Stacking Proxima audiences into one ad set
💡 Tip: If you are running under a cost cap, try using our 10% LAL audiences
3. Scale Your Audiences 📈
Now your audiences are up and running, let's walk through some tips for how to scale them successfully. But before we get into it, let's make sure the audiences have had enough time live before making any budget changes. Following the first 5-7 days, we recommend turning off any with performance you’re not happy with, stacking audiences that are delivering close to average performance into a single ad set, and gradually scaling the audiences with performance you’re happy with.
How long should you let the audiences run before increasing budgets is dependent on a few things:
Initial Budget
If you started your budget lower than 2x your CPA, the audiences may need more time to heat up before assessing which ones you should scale or turn off. A good rule of thumb is if an ad set has not materialized a conversion after spending 6x your CPA we recommend shutting the ad set off and reallocating to other Proxima ad sets
Bid Strategy
If you are running under a cost per result goal or "cost cap", it may take longer for the audiences to have spent enough to make a decision on what ad sets to scale
💡 Tip: If you have been running your ad sets under a cost cap and can't get them to spend after X days, try swapping out the creative to see if it helps increase spend levels
After you have identified the ad sets you want to scale
Increase the budget by 20-50%
Continue to increase the ad sets by 20-50% every few days or until you have reached your desired scale
⚠️ Avoid a hard reset or too large of budget changes as it forces FB to relearn on the adset ⚠️
Situations that can force a hard reset include:
50% budget drops
200% spend increase
More than one significant change in budget over a 24-48 hour period
How to tell if you’ve forced a hard reset? The ads in the ad set will go back to pending