Hey guys,
Just wondered if is it normal that my initiate CPCs are so high?
The estimated reach is 1.5 million, and daily reach estimation is about 350k, I have 5 adsets with the same ad.
The CPCs are around $2+

Any suggestions?
Is it normal?
What should I do?
What geo?
What is your ads relevancy score?
I'd pause them immediately. You don't really want to be running anything with RS less than 7. People skipping and/or hiding your ads lowers the quality of your ad account.
Practically means your current ads are not relevant to your audience. I suggest using Audience Insights to target people who WANT to stop scrolling and read what you have to say. Higher RS->Lower CPC. Those two are directly correlated.
Well high CPCs in and of themselves can be good, bad, or neither.
The first question is whether you are making money or not ...
if you're making money and getting a good ROI with those CPC so it's really good but if you're not making money or losing so stop them immediately and try re launching your campaigns with different images/headlines until you get a CPC that makes you have profit. Relevance Score is very important and as your ads have only 2 so we could say that your ads either they are a shit for your audience or you're targeting a wrong audience.
Personally even if I was making money with ads that score 2 on their scale, I'd pause and relaunch with better ads because there is a VERY high probability that ROI will increase dramatically by only hitting a higher RS score. At the very least I would split test.
What vertical? Why not test on auction format first? It's usually cheaper than link click goals and provides more data that isn't so reliant on ad performance compared to cpc
Try launching auction then messing with goals within power editor when necessary
Those CPCs are insane and I don't see how you could possibly be profitable with costs like that. As many people have mentioned, relevance score is very important. I would instantly kill anything with a RS below 7. I usually only settle for 9-10 RS which is very achievable and should be your benchmark.
I would take a long hard look at your ads. Spend some time on Facebook looking at viral posts by pages like Keep Calm & Be Real. Notice how they use lots of split images with an air of mystery or shock. Notice how their headlines/ad text draws the reader in by setting up a compelling scenario without giving everything away. Your image really is everything. Keep asking yourself: "If I was a 25 year old male in Germany (for example) would I stop and click on this ad?"
With RS that low and CPCs that high, I guarantee you that your ads are weak and need work.
The main question is if your campaign is profitable or not. That being said 7.8$ per click is insanely high.
what currency and geo is this?