How can we utilize facebook’s cost cap bid strategy for maximise your campaigns results

To strike a balance between achieving optimal results and staying cost-friendly, Facebook has introduced a cost cap bidding strategy, giving you a new way to get the most out of your bids.

Previously, the bidding strategy provided by Facebook focused on maximizing conversion value or cost predictability, and there was no’way between’ that could guarantee both. To close this gap, Facebook has launched a capped cost bidding strategy to help users get the most out of their advertising campaigns by now combining the two features.

So how does it work?
What differentiates cost cap bidding from other cost-optimized bidding strategies is that you can set the maximum CPA/CPI that advertisers are willing to pay.

First of all, cost cap bidding is accessed through an updated guided bidding experience.

For example, if you are someone who wants to grow their business through app installs, subscriptions or purchases within a specified cost per action, this bidding strategy is for you. This feature allows you to set’limits’ for these tasks, so you don’t waste your budget on expensive conversations.

After the campaign starts, Facebook looks for leads that are less than or equal to the maximum cost per optimization event or the set maximum cost. This becomes a major differentiator between your current and target costs, keeping your budget consistent throughout the entire campaign, whether or not there are cheaper opportunities. What this does is give you more control over your spend per conversion.

Is the cap bidding strategy right for you?
It’s a great option for marketers who want to maximize cost efficiency and achieve their business goals at the same time. Those who want to manage their advertising budget but haven’t yet determined the exact maximum CPA/CPI in the initial setup phase should cap their cost based on real data rather than gut feeling. In short, it should be realistic.

Those who are still skeptical of the new features can also check out Facebook Business’s help guide, which explains the process very clearly. We provide comprehensive and detailed suggestions on how to choose the bidding strategy that best suits your needs. It shows you all the available bidding strategies, who sets them up, the available goals/goals for each strategy, when they are available, individual benefits and considerations.

So, are you ready to take the next steps to personalize your campaign?

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