Facebook Bid Strategies & Tools to Help You Bid
If you want to target iOS 14 users with a cost cap or a minimum ROAS bid strategy, your ad set should run for three days. Learn how iOS 14 may affect your advertising and reporting.
Facebook offers a cost cap, a minimum ROAS, and a bid cap. In addition, they educate us on how to bid in the ad auction and help you set targets for your CPA, ROI, or bid quantities.
Attempt to maintain costs within a reasonable range for the desired results. For example, you can set your cost cap to maintain your Business profitable if you’re a store optimising for purchases.
Aim for a minimum return on ad spends for each bid. Set your ROAS control to 1.100 to ensure your USD 100 budget generates at least USD 110 in purchases (or a 110 per cent return).
A maximum bid across auctions is better than letting Facebook bid based on your cost or value goals. But, again, this is for people who can estimate conversion rates and bid accordingly.
Note that the cost cap and minimum ROAS are ad auction inputs that will help you optimise your campaign. However, while we endeavour to meet your cost cap or minimal ROAS requirements, adherence is not guaranteed.
If you’re using CBO, choose cost cap, minimum ROAS, or bid cap as your campaign’s bid strategy. This is where you specify the control amount for each ad set.
If you’re using ad set budgets, include cost control in optimising the ad delivery phase. When you enter a cost control amount, we choose the cost cap bid strategy for you. To use a bid cap, select Show more bid methods. If you don’t specify a limit, we’ll use the lowest-cost bid.
Remember that you can only control the minimum ROAS when you optimise your ad set for value. Therefore, you must meet the value optimisation criteria to use a minimal ROAS control.
What is the best day and time to post on Facebook For Ads Australia?
- When should I publish A Facebook Ad?
Professionals’ opinions Claudia Lombana, an eBay and Paypal expert, revealed that mobile shopping was busiest on a Mon between 11 a.m. and 1 p.m. Recent Shopify data confirms this.
Monday was the greatest day to buy “Absolute Facebook Ads” by Claire Pelletreau. Using Google Analytics, she learned that 2 p.m. had the most sign-ups.
That’s the kind of research you’ll need to do. For example, if you’re advertising your blog, find out when it’s most likely to be read. If you’re running a sales ad, find out which day is the most profitable.
Here’s how Claire decided the best time to advertise for her company.
Here’s an example of using Facebook data to determine the best time to run your ads. A report on some advertising I did for a client to increase Facebook fans:
To find out what yours is, go to the ads manager and run some reports.
Be as precise as you can. For example, divide your data by age, gender, placement, date range, and action to determine when to run your ads.