I'm seeing a discrepancy with my bidding on FB, and hopefully I somebody can further enlighten me.
On several of my ads, I've seen my Suggested Bids drop below $.10.
For example, one ad has a Suggested Bid of $.06-.10
However, I'm bidding $.57, and I'm paying $.38
Problem is, if I drop my bid below $.40, I get ***NO*** traffic, and definitely ***NO*** clicks.
This is happening on all my ads. Not just one.
Am I the only one, or is there some period I have to wait (2-3 hours) before the system resets and adjusts to my newer (lower) bid levels.
This is important because profitability starts at $.30 for me on this campaign, and I really want to lower my CPC.
Ignore suggested CPC bids entirely, they are biased and account based. A better guide is to look at the suggested CPM bid, then bid somewhere near that but in CPC mode. Trust your data above all else.