Once you understanding how to use Facebook ad bidding, it will then help you reach your campaign goals for less money.
Facebook Ad Bidding
Are you aware that the bidding options for Facebook ads have changed slightly? Facebook has updated automatic bidding to be more beneficial. However, the options are different for each type of advert, Facebook set bidding up to reflect the way people should bid to get the most return on their advertising investment.
You have a choice on how to control your bidding and therefor your budget. You can optimise your adverts, how you are being charged and choose between manual and automatic bidding.
If you are new to Facebook advertising and testing the water for some research, you may want to stick with the default settings. However, if you have a specific marketing objective in mind, are troubleshooting or split testing an advert, or want more control over your budget, you’ll want to adjust your bidding accordingly.
Let’s look at the steps you need to go through to set up bidding for your ad campaign.
Choose a Goal
As with any marketing activity you need to choose your objective prior to launching a campaign (otherwise, how will you be able to measure its success) Objectives range from boosts and promoted posts to website clicks, conversions, video views, and more.
Define Your Audience
As with any advertising campaign, you need to decide what audience you want to reach. It is worth remembering that you can save several audience criteria to allow you to measure target success.
You can either go broad or get specific with your audience. Although in our experience the narrower the targeting, the more likely you are to reach the right people, even if the audience size is smaller and your campaign content will match to the segmentation. Far better to run several adverts changing the copy and content to match the audience.
Determine Your Budget
Prior to setting the bidding you need to decide how you want your campaign to run. Do you want to blast your audience with your message or trickle feed your message over a few days? With this in mind you can choose to bid a certain amount per day or choose a lifetime budget, which is the total amount you’re willing to spend.
For instance, if you choose a lifetime budget of £100 and the ad will run for 10 days, you’ll probably spend about £10/day. If you choose a daily budget, that will run for the duration of the campaign.
Before you go with a large campaign spend, split test your ads to see which ones resonate with your audiences, consider different images, call to actions, colours and the written word.
When you’re in the testing phase, test at £25 to £50 per advert to see how each ad performs and then compare ads against one other. After you figure out your budget, move forward with your ad campaign. Remember to try to keep the timings the same so you can measure if it was just your advert that made a difference.
Optimize Your Ad Delivery
When you get to the Optimize section, Facebook defaults to the goal you selected for the advert campaign, such as Link Clicks to Your Website, Video Views, Impressions, or Daily Unique Reach. When Facebook optimizes your advert, it shows the advert to the people who are most likely to take that particular action.
For instance, if you have a pixel set up to track when people convert from your website, Facebook will serve your advert to people who are more likely to click. Facebook will also serve video and subscribe ads to those most likely to watch or sign up.
Please note if you change the way you optimize your bidding, your estimated daily reach may change, too.
Ideally you want to ensure you have planned well enough in advance to explore different combinations of options and come up with the best, most cost-effective mix.