Depending on your budget, the amount of money spent every day might vary. Naturally, the decision will be made upon how much money you feel comfortable with spending and your advertising goals.
As a general rule of thumb a daily budget should be higher than €5 to gather enough data to get your campaign running. If this is too high for you, you can start lower, and try to increase it as you see the results coming in.
Testing budgets also work rather well. If you're unsure of what works best for you regarding your goals, then going through a testing phase might offer you the results you're looking for.
But first, you need to set your goals. For example, if you want to drive traffic to your website, how many clicks a month do you aim to receive? In conclusion, doing pre-calculations might help to decide your daily budget.
Two ways of calculating a daily budget
First calculation: find your monthly budget, the average days per month, and then divide them.
- Your monthly budget: €500
- The average number of days per month: 30.4
So, now: €500/30.4=€16.44
Conclusion: €16.44 will be your daily budget.
Second calculation: define how many clicks you want to get per month. The average CPC cost on Search varies between industries, but the average, in general, is between €1 and €2 per day.
- The average clicks you want to achieve: 300 clicks a month.
- The average CPC: €1.50
So, now: €1.50 x 300 = €450 (monthly).
But to know the daily amount: €450/30.4 = €14.80.
Conclusion: €14.80 will be your daily budget.