Do you know the difference between Facebook ad bid types like CPM, CPC, oCPM and CPA?
Would you like to learn which bid type you should use to best optimize your Facebook ads in the self-serve Facebook Ads tool or Power Editor?
Would you like to lower the costs you are paying for Facebook ads?
In this article, I’m going to cover four Facebook ad bit types and how to select the right one when running Facebook Ads.
Setting objectives
Before you begin to run Facebook Ads, it is important to start with your Facebook ads objectives.
Your objectives are what you want people to do when they see your Facebook ads.
Some examples include getting people to like your Facebook Page and also to get people over to your website.
By knowing your objectives and what you want to achieve, you can be sure you choose the right Facebook ad bid type to best optimize your ads and bring in the right people to your business.
Facebook ad bid types
There are four Facebook ad bid types you need to know.
Each of the Facebook ad bid types has a purpose and can help you with your objectives.
1. Cost per mille (CPM)
If you want to get people to view your ads, this is the best bid type to use.
2. Cost per click (CPC)
If you are looking to get clicks on your Facebook ads, this is the best bid type.
3. Optimized cost per mille (oCPM)
If your objective is to show your ads to people who are most likely going to take action, use oCPM.
An example of this is if you want people to like your Facebook Page or click a link in your ad.
4. Cost per action (CPA)
You would use cost per action (CPA) is your goal is to get people to take an action on your ad or to convert.
For example, if you want someone to like your Facebook Page or click on a link, you can specify a bid amount when an action occurs.
Let’s take a closer look at each of the Facebook ad bid types in more detail.
- What they mean
- What the goal of each ad bid type is
- When the best time is to use them for Facebook Ads
How to choose the right Facebook ad bid types
Continue reading Facebook Ad bid types cheatsheet – Infographic