When Your Meta Bid Strategy Matters?

The bid tactics that you can use on Meta Ads are highlighted in this article. After reading this guide, you'll be able to weigh the advantages and disadvantages of each bid technique and have a better understanding of how bid strategies affect the performance of your entire campaign.

The Importance of Your Bid Strategy

The bid methods offered by Meta assist you in achieving the quantifiable business results you value, such as growing your customer base, brand awareness, or overall sales.

It's vital to select a bid strategy that best matches your key KPI, or how you'll assess success, depending on the result you desire from your campaign. By doing this, you may maximize the effectiveness of your campaign, raise your advertising ROI, and eventually boost profitability.

You must first choose your overall Meta objective and your main KPI in order to assess which technique will perform best for your campaign.

For instance: A pet store supplier decides to use Meta to drive purchases as their main goal in order to enhance online sales. Cost per purchase can be their main KPI if they wish to concentrate on keeping marketing expenses low. Return-on-ad-spend could be their main KPI if they wish to concentrate on increasing the value of their purchases.

The bid strategy they should use depends on which KPI they want to emphasize.

Control vs. Cost

It's crucial to keep in mind that under Meta's system, the more control you exercise over expenses, the more restrictions you set on our platform's ability to uncover lower-cost options for your desired goals.

A bid is the amount you are willing to pay someone in your target market to attain the outcome you want.

Your bid, however, does not represent the price of the optimization event of your choice. Use cost caps if you wish to directly control for an outcome's cost.

here is more information on bid strategy

How Your Costs Are Affected by Bid Strategy

Selecting an Effective Bid Strategy

Choosing the Right Bid Strategy Note: Bid strategy availability may depend on your selected campaign objective

SOURCE: Facebook Blueprint