Coaching Session 7 – Setting Up Payment Method
Time Stamps:
00:44 Set up Payment Method
10:30 Create Spending Limit
14:58 Understanding Billing Threshold
Lesson Notes
Setting Up Your Ad Account Info
The first thing you need to do when creating a campaign is to set up a payment method first. This pays for the running of your ads. You will only need to set it up one time unless you want to change the payment method or create an account.
Go to your Business Manager and click “Ad Accounts” under “Accounts.” By entering your agency, fill in all the blanks
Setting Up Your Billing & Payment Information
Click on your ad account settings -> Payment Settings. From here, we can insert our cc or payment method details.
You will land on the Billing page where you can:
- Add new payment methods
- Edit your current payment methods
- Set your account’s spending limit
- See your next bill
Editing Your Payment Options
If you want to make changes to your Facebook advertising payments, you can do it on the same page by clicking on “Edit Payment Methods.”
If you have entered multiple payment options, you can choose which one’s primary.
Note that you cannot delete your primary source, so you’ll need to make another option for your primary source before removing your current primary payment method.
How and when are you billed?
You can expect a bill from Facebook on two occasions:
- At the end of every month
- When you reach your billing threshold (if you use direct debit to pay for Facebook ads)
The billing threshold means that your primary payment method will be charged every time you reach a certain billing threshold. The sum of the threshold varies based on your billing history.
These thresholds don’t have any direct impact on your advertising campaigns; they just affect how often you’ll be charged. The big advantage of having a high threshold is that you’ll have to deal with fewer invoices. If you want to change your threshold or have problems with billing, you can contact Facebook support.
Setting up the account spending limit
You can control your total ad costs by setting an ad account spending limit. Your ads will pause when you reach the limit you set and won’t run again until you increase or remove that limit. Keep this in mind in the future should you ever find your ads are not running and you don’t recall why!
Ad account spending limits are especially useful when working with agencies when you want to be sure your consultant or agency won’t be able to spend more than you’ve planned across all of your campaigns. Don’t set it too low or you’ll have to update it very often. Remember that each time the limit is reached, all of your accounts will be paused for at least 15 minutes.
As a final note, rest assured that the account spending limit doesn’t have any impact on your ad delivery pace.
Reminder: Marketing is no longer about the stuff that you make, but about the stories, you tell. Seth Godin
Portfolio
Portfolio Assignment 7: Send a screenshot of the saved payment method
Example:
Email Subject: FAMC – Portfolio 7
PORTFOLIO SUBMISSION GUIDES:
1. Video-On-Demand (VOD) Access
Submit your portfolios to courses@surgedigital.agency.
You can submit individually per coaching session or submit all required portfolios as one, in one email (attach your Google Drive).
2. VOD with Class Coaching
Send your portfolios to courses@surgedigital.agency.
Please submit individually per coaching session.
3. VOD with Mentoring
Send your portfolios to courses@surgedigital.agency.
Please submit individually per coaching session.
4. Premium Members
Submit your portfolios to courses@surgedigital.agency.
Please submit all required portfolios as one, in one email (attach your Google Drive).
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