"How much should I spend?"
The minimum cost per ad is $154 ($54 service fee + $100 ad spend). There are three deciding factors to consider when increasing your ad spend.
The Facebook algorithm takes a minimum of 3 days to learn your market audience each time your run a new ad. With a minimum ad duration of 10 days, this leaves you with only 7 days of your ad being seen by people in your market. Increasing your ad duration allows your ad to be seen by more people for a longer duration, increasing the likelihood of engagement.
Ad Spend Per Day
Increasing your ad spend per day tells Facebook you are serious about having your ad seen by the right kind of leads in your market area. We know from experience $10 per day is the bare minimum to generate a healthy number of leads so, no matter your ad duration, increasing your ad spend per day is going to result in a higher number of leads.
Facebook requires a minimum radios of 15 miles from either the property address or any designated city you enter. Increasing your radius will increase the number of people who see your ad. Please note: choosing a different market for your ad will not increase your budget.