How much you spend each day is really based on your own budgetary constraints and how much financial risk you can bear. Facebook’s minimum is $1 per day.
However, there are a few things you need to be aware of when it comes to budgeting…
In order for Facebook’s algorithm to be able to optimize your ads best, it needs at least 5 actions each day, based on your campaign objective. More is better.
So for example, if your objective is conversions, you need at least 5 conversions each day (on average) in order for the algorithm to have enough data to do it’s job, and optimize your campaign. If you get less conversions than this minimum, your campaign will not likely perform well. The same is true whether your objective is clicks, engagements, video views, etc.
So, when deciding how much you should spend, you need to take your objective, and your campaigns performance into consideration. If your hope is to spend $1 for each subscriber (for example), then you should not spend any less than $10/day on your campaign. The reason I say $10 instead of $5 is because the campaign is not likely to perform optimally at first, so you need some padding in the budget.
If your budget is limited and you cannot afford to spend $10/day, then I suggest changing your objective to traffic, and optimize for “landing page views” instead.
This will not be ideal if your goal is to get subscribers (conversions), however it is the better approach since you are nearly certain to get more than 5 landing page views per day, even with a budget of $3 a day or more.
In general, the more you spend the better your ads will perform, up to a point. Eventually, a new challenge will arise, which is scaling up to larger budgets.
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