What's up everyone. This is another tip where I'm going to talk about Facebook spending limits and billing thresholds. Now, most people don't realize that Facebook actually advances your ad spend and you only pay them when the bill is due. In this session, I'm going to show you my exact 3-step process that I use time after time to getting big spending limits on Facebook, so you can get an advertising budget as high as 2,000, 10,000, 20,000 dollars or even more. Okay, so first of all, let's start with some basic Facebook terms because this often gets confused. There is a spending limit, and there is a billing threshold, but they're often both referred to as spending limits. I want to take some time to able to explain the difference. The spending limit is designed for you to limit the amount of spending that can happen on your account to prevent spending too much, okay. For example, let's say you have a campaign that is losing money, and you happen to be out of town not managing it. Well, once you reach that limit, it stops. Again, like I said, this is often referred to as your spending limit, but the true term for it is your billing threshold. Facebook starts you off with a very low threshold, and over time as you make payments they keep increasing it, up into the tens of thousands. In fact, I have friends who have accounts with billing thresholds as high as $100,000, meaning that they can spend $100,000 on Facebook ads before they even see a bill. They could spend a $100,000 in a single day using Facebook's money before they ever even have to bill it and know their credit was never run once. This is another way to be able to get a loan without having to run your credit, but again the money is only useful with Facebook ads.
If you're brand new to Facebook ads, you're likely going to start with a $100 billing threshold. I've even seen billing thresholds as low as $25. Now, why do they start you off so low? Because they want you to get some experience, okay. That's like Facebook saying that the first $100 is on them, and you only pay after you spend it, because they've taken a risk on you. There's always a chance that you're going to spend a 100 bucks and not pay them, but why is it that they can front you that money? Well, unlike PayPal or unlike a bank, this is just digital currency. It's just kind of made up. They're fronting you money that isn't real. They're basically just running some ads for you. No different than they would run your post organically in the news feed.
Step number 1, and this is the most important. You've got to request the highest threshold. Okay, it sounds super simple, but trust me, this is the one that most people make the mistake on, okay, because that's not something you do once. This is something ... Depending on how fast you spend, this is something you might be doing every day.
Step number 2: You've got to spend the balance on the threshold. Step number 3: Make 3 successful payments and repeat. You guys, this is what you want to do and then as I'm spending down that balance a couple times, then I'm going to ask for 25,000 or 30,000 and keep going up and up and up, okay. The key here is frequency and repetition. Frequency and repetition. You need to frequently request the higher billing threshold limits, while at the same time you're making a case to Facebook that the current limit is not enough for you, and the best way to do that is obviously to rapidly spend the balance and pay the bill. Rapidly spend the balance and pay the bill. Repeat the process over and over. Here's the thing though. I've seen most marketers miss the vital step of planning it all out, so here's what happens. Instead, they just spend and spend and spend and don't get higher limits. I talked to somebody the other day that basically it was like, well, how did you get such a high limit? I asked him. I go, well, are you going in there every single day and requesting it? They said, "No. Let me go try right now." They're like, "Oh, awesome. I just got a $2000 limit or whatever." $2500 limit, but listen, they had spent enough money in their account to qualify for like $10,000 limit or $15,000 limit, but they didn't have a plan. What about PayPal working capital loans? What about PayPal working capital loans? Well, if you associate your PayPal account with the ads account that you're seasoning, it's the perfect match because it allows you to scale faster. Facebook fronts you the ad spend and then PayPal fronts you the bill payment. I mean think how powerful this is. You guys, I hope you take this seriously. I hope you've enjoyed Tip 2. So far in Tip 1, I taught you how to get PayPal working capital loans and how to start seasoning your accounts there. In Tip 2, I told you how to increase your Facebook spending limits, specifically your billing thresholds and how to be able to season your Facebook ads account, and I also talked about combining the 2. The perfect balance of a PayPal working capital loan hooked into a Facebook ads account that you seasoned. When you balance those 2 together, you will become unstoppable. With that being said, I look forward to seeing you guys in the next Tip, and I hope that you're enjoying this awesome Tip. |