What is CBO?
Campaign Budget Optimization is a way of optimizing the distribution of a campaign budget across your campaign's ad sets. This means Facebook will try to continuously find the best available opportunities for results, across all of your ad sets, and will distribute your campaign budget in real time to get those results.
A campaign budget is a budget you set at the campaign level (rather than the ad set level). The amount you set can apply to each day the campaign runs (daily budget) or over the lifetime of the campaign (lifetime budget).
Facebook optimizes your campaign budget in real time, on an opportunity-by-opportunity basis. Their goal is to get you the most results possible, and for the cost of those results to align with your bid strategy.
How can I use CBO on Paragone?
In the Settings step of any campaign flow, you will see, in the budget part of the settings, the option to toggle on or off the Campaign Budget Optimization:
Once you turn it on, you'll notice there is an option to add 'Ad Set Spend Limits', both minimum and maximum.
The minimum one will aim to spent at least the amount you'll set.
The maximum one will aim to spent a maximum of what you input.
These are not guaranteed, but Facebook will work on trying to achieve them!
Campaign Budget Optimization in Dashboards and Campaign Reports
To monitor which campaigns have the CBO activated, we have added a little symbol next to the budget in Dashboards:
In the Campaign Reports, you will now have a few other options to manage budget.
On the Campaign level, you can modify the budget, with the previous options (Split/Fair/Manual) and the Optimization added to the mix:
From here you can deactivate the Budget Optimization if you want to, and you can modify the budget as well!
On the Ad Set level, you can modify the Spend limits we mentioned earlier: