What are the features and pros of manual and automatic strategies for assigning
bids in FB?
On Facebook, you can use either manual or automatic bids assignment
strategies. The strategy chosen will affect how the ad algorithms
manage the budget and optimize the bids in the auction.
Automatic strategies
Automatic strategies are recommended for beginners, while manual
betting requires experience and constant monitoring.
- Minimum cost per conversion rate. FB will spend the
specified budget and adjust the bids to achieve cost-effective
conversions. This strategy is useful when you need to spend
a specific budget and gather as much data as possible.
- Limit price. This strategy enables you to increase conversions
by setting a higher bid price. Facebook will seek an efficient
audience. It is crucial to calculate the lead's limit price to
control the outcome and avoid losses. This strategy is ideal
if the affiliate payout is high.
Manual strategies
Manual strategies may require more time, data, and monitoring, but
they can help generate low cost leads.
- Target cost. FB will adhere to the fixed bid specified by the
webmaster. This strategy is effective if reducing the rates results
in low-quality traffic, while increasing them reduces the payback.
- Bid Cap. FB will not exceed the specified maximum bid, but will
provide conversions at that price or lower. This strategy is
appropriate when budget constraints exist.
- Cost Cap. FB can raise the set bid slightly to increase volume,
or lower it to get cheaper conversions. This strategy is useful
when the conversion price is known and when there is a need
to maintain flexibility to lower the bid without losing efficiency.
Facebook doesn't have many built-in options for working with
transactions. But LeadingCards' personal account lets you manage
payment tools efficiently and use any strategies to optimize campaigns.
Conclusion
When promoting an offer, it is important to test different strategies to
learn how they work and expand your toolkit. In the initial stages, it
is worth working with automated strategies before mastering manual
strategies to save budget and obtain cheaper leads.