Here’s how to distribute your budget by country, for global brands when optimizing for leads…
First, collect information about where your paying customers live. I did this by running a report in Infusionsoft/Keap. Ultimately, it doesn’t matter whether you get leads or traffic from a country. If people in a country never buy from you, don’t spend money to reach them.
Second, do some research on the CPM for each of these countries. I dug through my own results using the breakdown by country in custom ad reports. I also used Meta’s projections on reach for a $100 budget based on the country I used.
This will give you a list of countries and CPMs. Third, group together countries that have similar CPMs. If you don’t, the algorithm will spend all of your money on the cheapest countries. We want to continue building where we have paying customers. These countries will be in their own ad set.
Finally, set a daily budget that is appropriate for each group’s CPM. The goal should be to get a similar number of leads, regardless of the budget. Use the expected CPM as a guide. TIP: You may be surprised how low a budget you can set for some countries (my “Group 5” has a $3 daily budget and gets 8-10 daily leads).
I used five groups. One group was the US only since it makes up about half of my paying customers (and it’s expensive to reach people). I used 40 countries in all for my groups (five different ad sets).
This approach will allow you to balance your budget on leads that are most likely to convert. You can also give some love to countries you may have otherwise neglected with advertising. Normally, I often focus only on the US, UK, Canada, and Australia. This allows me to reach people I may normally miss.
This is something new that I’m trying, and I already feel like I’m spending my money much more efficiently. If you focus only on the US, UK, Canada, and Australia, you’ll have a high cost per lead. If you target worldwide, you’ll have cheap leads, but from people unlikely to buy.
Doing it like this, you can spend a proportionate amount on each group and feel more confident that the leads generated may result in a paying customer.
Do you do something like this? Let me know!
