If you want to Advertise or promote your company or product on either Instagram or Facebook you should make a budget plan for each placement in the platforms. Following are the ways in which you will learn how to use the split test option on Facebook to evenly distribute your budget for ads on both Instagram and Facebook. But firstly you will need to determine whether it is in your best interest to allocate your ad budget through the automatic placement.
For some ad campaigns and businesses it is best to use the automatic placement in which Facebook automatically distributes your budget among its four major platforms (Facebook, Messenger, Audience Network and Instagram). But sometimes you would just want to spend your budget on Instagram ads and can gain the most out of that. Split test lets you experiment and observe with different adaptations of your ads to determine which of it works the best with your budget.
Setting up Split Test for Placement Performance between Instagram and Facebook
To create a new campaign, go to the ads manager in the business manager tab on Facebook. Select the type of traffic goal from the 10 objectives. After typing in the name for the campaign, activate the split test option and click on continue. If you are going to use your split test for Facebook, select the placement option from the drop down menu.
After your selection, Facebook will automatically generate two different and separate ad campaigns (Ad Set A and Ad Set B), which you can further modify to use for a particular platform. Select the desired ad set and select the specific platform by deselecting other platforms in the edit placement dropdown option. Select and fill the audience type for your ads like followers on Instagram and Facebook.
Now you will get to the Split test schedule and budget section. You can either choose a daily budget for your ads or a lifetime budget. Daily budgets are way cheaper and easier to pay than lifetime budgets. After allocating your total budget you can split your budget evenly on both platforms or you can customize the split to be more on one side and less on the other. Now set a starting date for your test and select the duration.
Result Analysis and allocating your budget
After the duration of your ad campaign ends, you will be given a result for the split test. You can check the results of that test by going in the campaigns tab and selecting your ad campaign. When analyzing your result, make sure that the total amount spent on ads is almost equal on both of the platforms.
Than you can start to compare the total number of people the ads reached and the frequency. If all of the elements mentioned above come out to be equal, compare the cost of the result on both platforms. If this cost is lower on Instagram, it would be best to distribute majority of your budget in the future on ads on Instagram. If this cost is lower on Facebook, it would be the best to allocate majority of your budget in the future on ads on Facebook.