What up guys.
Do you actually change your max cpc bid during a campaign? I found that the max bid has relatively little/no effect on the average CPC paid, but I could be wrong of course.
The way I learned was to start with 0.30€ bid and then reduce your bid by 0.03€ per day until you get no more traffic, then increase the bid by 0.01€ per day.
But right now I just use 0.35€ for everything and don't change that ever.
I target large audiences (>1m) in newsfeed with an intentionally low ctr (~2%).
Am I wrong and should I decrease my bid? How do you guys leverage the bid parameter?
If it's traffic you want... it's generally better to start with a high bid and let FB level out the CPC based on CTR.