Anyone here has any formula to calculate the ads budget? I was wonder what is the benchmark that we need to set for our daily ads? Any idea? Please share with me if you got a good formula. Thanks
The best formula is the one that does not send you broke! work out your conversion rate say 4%. That's 4 sales/signups per 100. At $20 per sale/signup that's $80 back per 100 clicks. Your Budget should be less than the $80 that your making, so set you budget at say $50 a day @ 50cents a click (100 Clicks) makes you $30 profit a day. Everyone formula is different and you need to constantly monitor your Conversion rate. If its higher then you have more money to spend, if its LOW look for cheaper clicks or make changes if possible. Hope that make sense Math was not my number one subject oda
Make sure to use correct keywords, otherwise unnecesalry you need to pay more for keywords.. We cant set as a constant dily. If you get more sales, you can set it to High..
Is there expectation needed to set on conversion rate. It maybe different for each niche but i still feel that there may be generic conversion rate expert use to set up their campaign