Facebook Ad Bidding Tips For The Beginner
Think all you have to do to create successful Facebook ads is utilize a stand-out design and write killer copy? Think again…
While the above is definitely going to help, it’s not going to do anything at all if you aren’t bidding properly. When done incorrectly, you could end up failing to reach a massive portion of your target audience, as well as waste a lot of money in the process.
So how should you bid? Below you’ll discover 3 great Facebook ad bidding tips…
1. Do a split test
One of the most vital tips you can follow to ensure you’re bidding correctly is to carry out split tests. This basically involves testing out different types of ads. A good example is creating two of the same ad and targeting two different demographics. You then measure exactly which demographic responded better to the ad.
You could also do this with keywords. Try out ads that focus on different keywords and see which produce the highest click-through rate.
It’s impossible to tell whether you’re bidding correctly, without knowing which types of bids bring the best results.
2. Consider your objective
The objective of the ad will very much affect the bid strategy you should use. If you’re looking to gain more conversions and increase sales, the pay per click bidding strategy is the one you’ll want to go with.
In fact, this is the bidding strategy recommended to all businesses just getting started with Facebook ads. It’s really easy to control your budget and the ads encourage people to click on them.
On the other hand, if you’re looking to boost brand awareness, you might be better off with a pay per impression strategy.
This allows you to pay for a set amount of views for your ad. It doesn’t necessarily guarantee that the users will click on it, but it does gradually build up your brand awareness and is pretty cheap compared to pay-per-click.
3. Don’t bid too low
It’s common for local businesses to start off with a very low budget. After all, you don’t want to end up wasting a lot of money if you don’t know what you’re doing. However, bidding too low is going to be detrimental.
A low bid won’t get your ad displayed to a large target audience, so the returns you make are also going to be low.
You should start with a budget of at least $5per day for lead gen and your for products you will want to use the COGS (cost of goods sold), but the more you can spend, the more test you can conduct and the faster you will see a return.
These are some tips you can use to ensure your Facebook ad bidding strategy delivers the best results. The key is to do as much research as you can before bidding to ensure you know exactly what you’re doing.