Optimize your Ad Campaign to get the most out of your budget. When you’re creating an Ad Campaign in Social Media Management, you can apply a bidding strategy which will determine how your budget is spent.
What Is a Bidding Strategy?
In Facebook’s terms, a bid is how much you’re willing to spend on a desired action, for example a click or an impression. The result of the amount spent is considered the cost per action (CPA). In Facebook’s Ads Manager, you can view your average cost per action for each Ad Campaign.
Using a Bidding Strategy, you can use this information to control your budget and instruct Facebook to cap your bid amount, set an average cost per action, or set a target cost for every action. Otherwise, you can choose to have your entire budget utilized without any caps.
What Bidding Strategies Are Available in Social Media Management?
In Social Media Management, there are three available bidding strategies:
Lowest cost without cap
Bid cap
Cost cap
Note: Not all bidding strategies are available for each chosen Campaign Objective. Please see the table below for more information on which bidding strategies you can choose from based on your Objective.
What To Consider When Choosing a Bidding Strategy
Below, you can see some of the main focuses and considerations for each available bidding strategy:
Selecting a Bidding Strategy in Social Media Management
You can choose your bidding strategy when creating a new Ads Campaign in Social Media Management. Please follow the steps below:
Go to Advertise from the menu on the left-hand side.
Under the Overview heading, select Campaigns.
Select Create New Campaign from the top right.
Choose your Campaign Objective.
Click + Add campaign budget optimization.
Under Bid Strategy, use the dropdown to select from the available strategies.
Note: It’s only possible to select a bidding strategy when you’re creating a new Ad Campaign and this can't be edited later.
Which Bidding Strategies Can I Use for Each Campaign Objective?
Your chosen Campaign Objective determines which bidding strategies you can choose from. The table below shows which bidding strategies are available for each Campaign Objective:
Campaign Objective | Lowest cost without cap | Bid cap | Cost cap |
Conversions | ✓ | ✓ | ✓ |
Lead generation | ✓ | ✓ | ✓ |
App installs | ✓ | ✓ | ✓ |
Traffic | ✓ | ✓ | ✓ |
Post engagement | ✓ | ✓ | ✓ |
Page likes | ✓ | ✓ | ✓ |
Brand awareness | ✓ | ✗ | ✗ |
Video views | ✓ | ✓ | ✓ |
Reach | ✓ | ✓ | ✗ |