FB Bidding Strategy-Why do you need to lower bids? (7)
I have noticed that if I start bidding high and have good CTR my CPC will drop automatically.
So why do you recommand here to manually lower your bids?
Isn't facebook does this automatically for you?
From what I've read in another posts, if you keep bidding like 20% lower than the suggested bid, you can get even cheaper clicks without affecting the traffic flow.
The thread is here: http://stmforum.com/forum/showthread...-FaceBook-Bids
Maybe this method got outdated tho, I would like to hear a word from the pros in this matter aswell.
Cheers
facebook sorta does....but it also sorta doesn't....by lowering the bids you can get your ROI positive if you need to.....but if you are already profitable there is really no reason to unless you want to set a limit...like a max you will pay....
by keeping your cpc high you have more inventory available to you and you can drive alot more volume.....its just something you need to play with on a case by basis,.....
running 100k clicks at 20% ROI is alot better then 10k clicks at 100% ROI
polar pretty much covered it, but the fb platform automatically lower your cpc's a lot more then they used a year ago.
What I've done recently on a larger reach campaign is starting my bids higher than usual, sometimes in the upper half of the suggested bid. It's been working out well, but I've only done it on fan pages, and with 1 million+ reach targeting. Like Polar said, this has been giving me more inventory and volume, and maintaining CTR over 0.2 and 0.3 has my clicks running at 7 cents for US traffic, and about 8 cents per like. FB is charging 7 cents, bids are at 17 cents, and bid range is 10-17 cents.
As for lowering, to give you an idea i started this campaign at a 35 cent bid. After establishing higher CTR which happened quick, FB was charging me 20 cents or so the first day. I began lowering bids, staying in the upper half of the suggested bid, lowering in 3-5 cent increments.
edit: forgot to mention why I did this. When I launched the campaign I started with the standard "lower than suggested bid" strategy. I wasn't getting impressions fast enough for this campaign despite setting budget at $1,500/day to start, so I set the bids higher. That seemed to work, I had CTR of around 0.4 which helped bring cpc down a lot.
One thing I found interesting. I duped the winning ad the next day and ran it as CPM, at a higher CPM cost as well, but my CTR was only 0.02%. Same ad, same creative, targeting, etc, just CPM. It's as if I was getting lower quality placements just for bidding CPM.
I must admit I am pretty green on facebook and confused with the bidding so hopefully someone can expand on thsi thread and help em with these queries.
1) So if facebook drops your cpc and you keep your bid high you will get more volume than if you dropped it?
2) f you drop your bid does it pay to keep it above the cpc they gave you?
3) Finally, if you start with say 10 ads targeting teh same demographic should you have different bids so you don't compete against yourself?
Cheers
Mike
Originally Posted by nz_mike
2) If you want to keep up your volume then keep the bid higher than the CPCs you are getting. It gives the ad room if the CTR drops a bit as well. You can set the bid to cap off your CPC for maintaining ROI, FB will keep delivering traffic provided your CTR is stable and high enough for that bid/CPC and provided you don't have other high bid adverts in your campaign lurking around waiting to eat up all your impressions.
3) Nah run em all at the same bid within the campaign, let the CTRs dictate how your bids change and which ads you keep running. If you mean in completely different campaigns targeting the same demo, then just manage the campaigns as if the others don't exist. The end user will click on 2 ads they like if they appear at the same time, at least I would. Unless you have a very tight demo I doubt you'll ever run into issues with your own ads competing with each other...
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