How do I change the bidding strategy on Facebook?

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How do I change the bidding strategy on Facebook?

When you choose the manual bid, you automatically set another bid strategy. Facebook will choose the Cost Cap strategy by default. Click the button ‘Show Additional Bid Strategies’ if you want to change it to Target Cost or Bid Cap strategies.

Which bid strategy does Facebook recommend you select in ads manager?

Lowest Cost is the default bid strategy, and it doesn’t involve any effort at all. Within the Optimization. Click here for full description & Delivery section of the ad set, you’ll see an optional Cost Control field. If you leave that field blank, Facebook will aim to get the most results possible from your budget.

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Which is better cost cap or bid cap?

If you care more about maximizing delivery and conversion volume within an average cost threshold, you should probably use Lowest Cost with Cost Cap bidding. And if you care more about every result you’re optimizing for costing no more than a given amount, you should use the Lowest Cost with Bid Cap option.

What are the two types of bid strategies available when creating an ad?

Focus on clicks with CPC bidding

  • Maximize Clicks: This is an automated bid strategy. It’s the simplest way to bid for clicks.
  • Manual CPC bidding: This lets you manage your maximum CPC bids yourself. You can set different bids for each ad group in your campaign, or for individual keywords or placements.

Is lowest cost or cost cap better for Facebook ads?

If you are tasked with achieving an average cost per conversion of $10, you should use Lowest Cost with a Cost Cap of $10. Facebook will pursue some cheaper and some more expensive conversions in order to reach this average.

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Should you bid higher or lower on Facebook ads?

However, you’ll usually pay lower than that bid. You can bid higher to make sure your ad is seen more. Or you can bid lower if the click is worth less than the amount Facebook suggests, which is a way to decrease costs. However, if you bid too low or are out of the range, your ad won’t be seen at all.

How does automatic bidding compare to manual bidding on Facebook ads?

When comparing the average costs per campaign, the Facebook ads campaign using automatic bidding outperformed the manual bids by 15\% – but when looking at just the week of 10X custom bids, the custom bid campaign outperformed the automatic campaign by 16\%. However, using the automatic bidding guaranteed a stable ad delivery.

How to optimize your Facebook ads to boost engagement?

Stick with the lowest cost bid strategy 8. Start with a higher bid 9. Choose value optimization with minimum ROAS bid strategy 10. Leverage geo-targeting 11. Stay in the middle of Facebook’s suggested bid 12. Focus on customer value above anything else 13. Optimize your ad landing pages 14. Try walk-ups 15. Use both custom and lookalike audiences

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How much does it cost to bid on an ad?

You can bid a certain amount per day or choose a lifetime budget, which is the total amount you’re willing to spend. For instance, if you choose a lifetime budget of $100 and the ad will run for 10 days, you’ll probably spend about $10/day. If you choose a daily budget, that will run for the duration of the campaign.