Facebook: Suggested Bid: $1.19 – 1.93 USD — How much should I bid?
Facebook: Suggested Bid: $1.19 – 1.93 USD
How much should I bid?
Really just a matter of how much volume you want. I’ve seen better conversion rates from bidding near the suggested initially, but keep in mind you’ll need a good CTR and some clicks built up to make your CPC’s drop down.
Basically you have 3 options.
-The red box trick (bid like .40 cents and keep upping in .05 increments until it stops saying that your bid is to low. Obviously this is going to give you the lowest volume and most likely start you off with poor quality traffic/positions but for some it works well.
-Just below: This is often my go to and has worked well in the past. I bid just below the bottom of the range so in this case .90-1.11 cents would be my bid. Usually gets good volume and seems to give me a reasonably high quality ad position.
-Bid in the middle: This will get you the most volume (facebook does actually properly distribute more volume for higher bids I’ve seen this when I did my own mini case study for the blog) So For example you could bid about $1.45ish your ad position should be good.
Basically the real answer is "why not test all 3?" if your ad has decent CTR the more volume you get the faster your suggested will drop. Ideally you want to make the lowest bid possible that will give you volume & good ad position.
Without knowing your demo/offer/etc. hopefully one of the above strategies will get you in the right direction.
The Article Published IN 07-18-2011 01:56 PM