How does oxbird come up with minimum budget recommendations?

How does oxbird come up with minimum budget recommendations?

Answer:  It depends on the platform.  

For Google Ads, Microsoft Ads, Yahoo! Gemini (AKA Oath Ads), and LinkedIn Ads - we do the following:

1) Determine average CPC

2) Multiply by 10 (to factor in 10 clicks per day)

3) Multiply by 30 (average number of days in a month)

4) That will give us a minimum budget which provides enough click data to make educated optimizations.

E.g. $10 average CPC x 10 x 30 = $3,000 minimum budget

For Facebook and Instagram, it works a little bit different:

The Facebook recommended budget comes from conversions (leads/purchases). For full optimization, we look for 50 conversions a week. So if a conversion is $10, we’re looking at a $500/week or $2k/month budget. The more budget, the more room we have to test different optimizations to find what suits your business the best. 

Of course, this is just a recommendation.  Budgets can be more or less, and estimates are not always 100% accurate.

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