Hi everyone,
I've been trying to look at the best way to optimize Facebook cost per click, specifically during the initial test phases of a campaign. I understand that it's during this initial test phase that we are really trying to get the most data to help us, without bleeding too much capital.
1) A person who was an FB marketing professional told me to set a lifetime budget say for 7 days, but for the first 3 days set it to automatically bid and after 3 days look at the results and set a manual bidding on the average cost per click. I'm a little concerned about this because it sounds like a quick way to spend a lot of money, because we are giving Facebook a big budget and letting them set the prices.
2) Another suggestion was to look at the suggested bid amount and choose the lowest from the range suggested by Facebook, and then work your way up or down depending on the results. I felt this was time consuming and I might be leaving money on the table if the actual CPC was lower then the minimum range provided by Facebook.
Thanks for your time everyone, I'd love to hear your opinions on this. Does anyone know a better way?
=)
Honestly, I always launch new campaigns in the morning on automatic bidding - 20 euro a day spend. Pushing mainly lead gen and pin submits so 20 euro seems to be a fair budget to get decent insights within 24 hours quickly, without pushing FB too much to burn money.
In the past I did the manual bidding too, but it never gave me the satisfaction and took too much time indeed. I must say my angles/ad setup is always quite the same so I never have really bad cpc's, that's why automatic bidding isn't too risky for me.
At the end I think you can safe some proper money on the long term if you really dive into the manual bidding thing tho'.
Hi!
Facebook is becoming really good at their bidding system, therefore we have already a certain trust to what they suggest and recommend our affiliates to set the automatic bidding. You can still control your costs at a certain level playing with the daily budget. Besides, automatic bidding is useful if you have a bigger budget and might help you reach your goals faster.
Although, in your case it would be probably better to use the manual bidding, as you have more control over the bid and your total spending. In general it depends on what you want to achieve with your tests.
Thanks to both
=)