META SOCIAL MEDIA MARKETING PROFESSIONAL CERTIFICATE

Course 4 – Advertising with Meta

Week 2: Determine Your Campaign Objective and Budget

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TABLE OF CONTENT

In the second week of this course, you’ll learn how to match your marketing goals to the right campaign objective. You’ll also learn how to determine the budget for your campaign and how to set your budget and choose your bidding strategies in Ads Manager.

Learning Objectives

  • Get a basic understanding for A/B tests
  • Understand and apply different bid strategies
  • Determine your campaign budget and set it in Ads Manager
  • Align your marketing goals and campaign objectives
  • Get to know the different campaign objectives available in Ads Manager

PRACTICE QUIZ: FIND THE CAMPAIGN OBJECTIVE THAT MATCHES YOUR BUSINESS GOAL

1. Which marketing goal group focuses on encouraging customers to purchase or use your product or service?

  • Awareness
  • Consideration
  • Traffic
  • Conversion (CORRECT)

Correct! Conversion is the final push in encouraging your customers to purchase or use your product or service.

2. Which specific ad campaign objective promotes traffic to your brick and mortar store?

  • Reach
  • Brand Awareness
  • Store Traffic (CORRECT)
  • Conversion

Correct! The Store Traffic objective allows you to promote your specific business locations to people that are nearby.

3. If you choose the Traffic objective on Ads Manager, Facebook will show your ad to people who are:

  • Likely to visit your physical store
  • Likely to buy your product
  • Likely to click through to your website (CORRECT)
  • Likely to sign up for your newsletter

Correct! With the Traffic objective, Ads Manager will optimize for clicks of people most likely to be interested in visiting your website.

4. A car dealership wants to receive data information on Facebook from potential customers to increase test drives. Which ad objective is appropriate for this business?

  • Lead Generation (CORRECT)
  • Traffic
  • Engagement
  • Brand Awareness

Correct! Lead Generation is your objective if your goal is to collect sign-ups for newsletters, price estimates, and business information. These sign-ups are a great way to identify potential customers.

5. An animal shelter wants to raise awareness that there’s going to be an influx of pets from breeding season up for adoption. They specifically want to target people who have demonstrated online interest in animals and animal adoptions.

Which ad objective is appropriate for this business?

  • Traffic
  • Engagement
  • Brand Awareness (CORRECT)
  • Lead Generation

Correct! Brand Awareness aims to optimize your Estimated Ad Recall Lift, or the number of people who will remember your ad two days after seeing it, by using data on online behavior and interests.

6. If you want people to seek information about and engage with your product or service, from which category of objectives should you pick a campaign goal?

  • Consideration (CORRECT)
  • Conversions
  • Awareness

Correct!

7. Which campaign objective should you pick if you want to direct people to your Brick-and-Mortar store?

  • Lead Generation
  • Store Traffic (CORRECT)
  • Traffic
  • Brand Awareness

Correct!

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QUIZ: DETERMINE YOUR CAMPAIGN OBJECTIVE AND BUDGET

1. Which Facebook ad campaign objective group includes objectives that get people to consider, seek information about, and engage with your product or service?

  • Awareness
  • Consideration (CORRECT)
  • Conversions
  • Traffic

Correct! The consideration stage is when consumers start to show interest in your product or service beyond being aware of it.

2. A new mattress company is trying to introduce itself to customers that are likely to be interested in and remember them. Which objective should the nonprofit apply?

  • Video Views
  • Store traffic
  • Brand Awareness (CORRECT)
  • Lead Generation

Correct! If you choose the Brand Awareness objective, Facebook will show your ads to the people in your target audience that are most likely to remember your brand.

3. Which type of budget in Ads Manager lets you control how much money you spend on each ad set?

  • Campaign budget
  • Campaign Budget Optimization
  • Ad Set budget (CORRECT)
  • Lifetime Budget

Correct!  At the ad set level, you can control how much money you spend on each ad set in “Ad Set Budget”.

4. Let’s say you sell bike chains, which each cost $200. You have a revenue goal of $10,000. You know that one out of every 100 customers who visits your page buys one bike chain. How many people exactly need to visit your page for you to meet your projected revenue goal?

  • > 5000
  • 5000 (CORRECT)
  • < 5000

Correct! Selling 5,000 bike chains allows you to break even with your revenue goal of $10,000.

5. Which bid strategy tells Facebook to bid with the goal of getting you the lowest possible cost per desired action, while also spending your entire budget by the end of the campaign?

  • Bid Cap
  • Cost Cap
  • Lowest Cost (CORRECT)
  • Target Cost

Correct! The Lowest Cost bid strategy tells Facebook to bid with the goal of getting you the lowest possible cost per desired action, while also spending your entire budget by the end of the campaign. It means you don’t have to set a bid, as Facebook will use its machine learning tools to spend your whole budget as efficiently as possible.

6. If you’re doing a split-test, which variable should you change if you want to see whether one image-text combination gets more leads than another?

  • Creative (CORRECT)
  • Placement
  • Audience
  • Delivery Optimization

Correct! The creative variable allows you to compare the performance of different ad images, text, or creative types.

7. Let’s say you have an expected revenue of $100,000. With the Rule of Thirds in mind, what should your upper limit for advertising spending be in dollars?

  • > 33,333
  • < 33,333
  • 33,333 (CORRECT)

Correct! This is the maximum amount you can spend before you exceed your profits and start operating at a loss.

8. Which bid strategy allows you to set the average amount you’re willing to pay for a desired outcome, like a conversion, on your website?

  • Bid Cap
  • Target Cost
  • Cost Cap (CORRECT)
  • Lowest Cost

Correct! The Cost Cap is the highest number one is willing to pay for a desired outcome.

9. Which bid strategy does Facebook recommend you select in Ads Manager?

  • Target Cost
  • Cost Cap
  • Bid Cap
  • Lowest Cost (CORRECT)

Correct! The Lowest Cost bid strategy tells Facebook to bid with the goal of getting you the lowest possible cost per desired action, while also spending your entire budget by the end of the campaign. It means you don’t have to set a bid, as Facebook will use its machine learning tools to spend your whole budget as efficiently as possible.

10. Which Facebook campaign objective should be selected to generate sales on a website or app?

  • Traffic
  • Awareness
  • Conversions (CORRECT)
  • Reach

Correct! The Facebook Conversion objective is built to drive action on a site to help grow your business through direct response actions.

11. A retailer is opening a new store and wants to optimize towards generating more physical store visits to the new location to claim exclusive offers. Which objective should the retailer apply?

  • Store traffic (CORRECT)
  • Video Views
  • Brand Awareness
  • Lead Generation

12. Let’s say you’re trying to achieve a marketing goal for app downloads. You want 40,000 people to download the app, which costs $1. You make $0.50 in profits per download.

What’s the maximum amount in dollars you can spend on advertising without losing money?

  • < $25,000
  • > $20,000
  • $20,000 (CORRECT)

Correct! This is the maximum amount you can spend before you exceed your profits and start operating at a loss.

13. If you’re doing a split-test, which variable should you change to test whether it’s more effective to optimize for impressions, leads, link clicks, or other options?

  • Creative
  • Placement
  • Audience
  • Delivery Optimization (CORRECT)

Correct! The Delivery Optimization variable allows you to test which optimization is most effective.

14. Which bid strategy limits what Facebook can bid in every single auction?

  • Target Cost
  • Cost Cap
  • Bid Cap (CORRECT)
  • Lowest Cost

Correct! Bid Cap strategy limits what Facebook can bid in every single auction.

15. Which bid strategy is best for maximizing the number of outcomes for your budget, while keeping the average cost per outcome below a certain amount? 

  • Cost Cap (CORRECT)
  • Lowest Cost
  • Bid Cap
  • Target Cost

Correct! The Cost Cap is the highest number one is willing to way for a desired.

16. Which variable in a split test compares how effective your ads are at reaching different audiences or demographics?

  • Placement
  • Audience (CORRECT)
  • Delivery Optimization
  • Creative

Correct! The audience variable allows you to observe how your ad performs for different types of audiences.

17. Which Facebook ad campaign objective group includes objectives to create initial awareness of your brand?

  • Awareness (CORRECT)
  • Consideration
  • Conversions
  • Traffic

Correct! The awareness objective group is the first step to gaining visibility.

18. What type of budget tells Facebook how much you’re willing to spend over the entire runtime of your campaign?

  • Lifetime Budget (CORRECT)
  • Campaign Budget Optimization
  • Ad Set budget
  • Campaign budget

Correct!  The Lifetime Budget is how much you are willing to spend over the entire lifespan of your campaign.

19. If you’re doing a split-test, which variable should you change to compare how effective your ads are at reaching different demographics?

  • Creative
  • Placement
  • Audience (CORRECT)
  • Delivery Optimization

Correct! The audience variable allows you to observe how your ad performs for different demographics of people.

20. Which variable in a split compares how your ad performs with a video asset versus an image carousel, or with any other differentiation in ad-level adjustments?

  • Placement
  • Audience
  • Delivery Optimization
  • Creative (CORRECT)

Correct! The creative variable allows you to compare the performance of different ad images, text, or creative types.

21. Which feature in Ads Manager allows Facebook to dynamically assign budget to ad sets based on their performance, therefore maximizing your spending efficiency?

  • Daily budget
  • Campaign Budget Optimization (CORRECT)
  • Ad Set budget
  • Lifetime Budget

Correct! The campaign budget optimization feature allows you to maximize your spending efficiency at the campaign level.

22. Which bid strategy is best for making sure you don’t sell any single item ever at a loss? 

  • Lowest Cost
  • Bid Cap (CORRECT)
  • Target Cost
  • Cost Cap

Correct! Bid Cap strategy limits what Facebook can bid in every single auction.

23. Which variable in a split test compares automatic placements with specifically chosen ad placements?

  • Creative
  • Placement (CORRECT)
  • Delivery Optimization
  • Audience

Correct! The placement variable allows you to compare ad results using different placements.

24. Let’s say you’re trying to achieve a marketing goal for app downloads.

You want 20,000 people to download the app, which costs $1. You make $0.50 in profits per download.

What’s the maximum amount you can spend on advertising without losing money?

  • $10,000 (CORRECT)
  • $15,000
  • $20,000

Correct! This is the maximum amount you can spend before you exceed your profits and start operating at a loss.

25. True or False: If you set a daily campaign budget of $50, Facebook will spend no more than $50 per day on your ad sets.

  • True
  • False (CORRECT)

Correct! Facebook will spend an average of $50 per day on your ads for your campaign’s duration—this means more on some days and less on others.

26. Which of the following describes the Cost Cap option?

  • You limit what Facebook can bid in every single auction
  • Facebook gets you the lowest possible cost per desired action, while also spending your entire budget by the end of the campaign
  • Facebook tries to stay under the cost control, or average cost per action, you set while still getting you the lowest-cost actions (CORRECT)

Correct!

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