Lowest Costs” and “Target Price” Targetologists often complain about price fluctuations for an optimization event and, conversely, about the inability to stabilize the price while increasing the advertising budget. To solve the tasks on Facebook there is a betting strategy.
If you don’t get the price for an event you want, or you’re having difficulty maintaining stable costs while increasing your budget, betting strategies can help.
Let’s take a closer look at betting strategies, how they work, and how you can work with them.
What are betting strategies?
Advertising on buy real Facebook page likes works on the model of the auction. The price you pay for your ad to be shown to the end user depends on the rate Facebook makes to win the auction for you.
As a rule, Facebook bets are automated (default option). But in order to better control costs, you can adjust the rate manually. The main purpose of the bid is to get the desired price for the event (mainly for conversion).
Facebook offers two bidding strategies as a solution: “lowest cost” (default) and “target price”.
These two options work differently.
So that you can get the lowest possible price for an event. At the same time, the entire budget will be spent on the advertising campaign.
BENEFIT: The main advantage of the “lowest cost” strategy is its effectiveness. In the short term, buy real Facebook page likes is trying to choose the lowest price for the result.
Disadvantage: The main drawback of this strategy is its fragility. The price for an event may increase with an increase in budget or competition at the auction.
“Lowest costs”: marginal rate
You can also set a marginal rate if you want to control how much the system will spend on one optimization event as much as possible using the “lowest costs” strategy.
Please note that if you limit your bid, if your budget or the bid itself is too low, Facebook will find it harder to win the auction. However, due to the installation of restrictions, the system, on the contrary, will not be able to spend too much.
For example, if a specific conversion in your case costs no more than $ 2, the restriction will not allow you to set a bid of $ 2.5 or more. You will be useful to save the budget.
When setting the marginal bid, remember that the bid is the amount that Facebook puts on the auction to win it. Since a bet means the maximum amount you are willing to pay for an event, in fact you usually pay less. That is, the rate is often higher than the amount that is deducted from you.
How to configure the maximum bid?
Facebook recommends using as an initial value the average price for the result for which your ad group has been optimized for the period when you have not set the maximum bid. Also consider how much you are willing to spend the most (not the desired price, but the maximum), to get income for the result.
Finally, Facebook recommends setting an amount for your daily budget that will be five times higher than your marginal rate. This is due to the fact that Facebook needs to get at least 50 results for an ad group per week (to complete the learning phase).
After completing the training phase, you can decide to raise the bid if your ad is shown irregularly.
The decision to set a marginal bid or not will depend on your results. buy real Facebook page likes does not know what the average price per event should be in your case. Thanks to the rate you can control the budget. At the same time, you can set a higher bid to increase the number of impressions for a more expensive event.
The strategy “target price”
Strategy with a target price, previously called “strategy with manual rates” is available only for campaigns with goals:
- Application installation
- Lead generation
- Product Catalog Sales
Facebook recommends using this strategy to get stable prices as the budget changes.