for example lets go back to beards

Setting Your Facebook Advertising Budget

Once you’ve set up how you’d like to target your audience for a given ad that you’ve uploaded to Facebook, the next step is to set up your budget. To do this for a particular ad campaign that you’re starting, head to “Pricing” and then “Set a Different Bid” in the Advanced section of the pricing window. From here, you will be able to set a bid price for your advertisement based on ads that are similar to yours given all of the options that you’ve chosen for it.

It’s important to understand the notion of bidding when it comes to Facebook advertising before moving forward. Depending on the specific criteria that you’ve set for your ad, the competition for getting the best placement within Facebook is going to vary in price. For example, let’s go back to beards. Facebook’s data analysis knows which male Facebook users between the ages of 16 to 100 years old are the most likely to purchase grooming kits from the advertisements that are placed on their Facebook dashboards, based on these user’s past activity. Thus, when you place a bid for your ad, you’re essentially competing for a spot within the best advertising spots that Facebook has. It’s also important to understand that simply setting your ad’s price at an enormously high rate is going to guarantee that your ad is going to be picked first. The quality of the ad, the effectiveness of the ad’s title, and the image associated with the ad, are all also going to be taken into consideration during the selection process.