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Facebook New Conversion Bidding Methods

Published on: December 7 2022 by Nick Peroni

Facebook has recently introduced new conversion bidding methods for advertisers. These methods aim to make it easier for advertisers to achieve their conversion goals and optimize their ad spend. Here's what you need to know:

Conversion Bidding Methods:

1. Lowest Cost Bid Strategy - This strategy automatically sets the bid at the lowest possible cost per conversion.

2. Target Cost Bid Strategy - This strategy allows advertisers to set a target cost per conversion and Facebook will optimize bids to achieve that target.

3. Bid Cap Bid Strategy - This strategy sets a maximum bid limit and allows Facebook to bid below that limit in order to achieve the lowest cost per conversion.

Advantages of the New Conversion Bidding Methods:

- Advertisers can optimize their ad spend for specific conversion goals.

- The bidding process is automated and more efficient.

- The new bidding methods can lead to higher conversion rates and lower cost per conversion.

Possible Concerns:

- Advertisers may lose control over their bid amounts.

- The new methods may not work for all types of campaigns.

Facebook's new conversion bidding methods offer a promising solution for advertisers looking to optimize their ad spend and achieve specific conversion goals. However, it is important for advertisers to carefully consider the advantages and possible concerns before implementing these strategies.

Facebook New Conversion Bidding Methods

In this article, we will be discussing Facebook's new conversion bidding methods and how it affects advertisers. We will go over the new bidding options and explain the difference between lowest cost bidding and target cost bidding. We will also cover whether or not to set a bid cap and how to monitor and adjust it.

New Bidding Options:

Facebook has updated the way advertisers can use automatic and manual bidding. They have renamed automatic bidding to lowest cost bidding and manual bidding to target cost bidding. The main benefit of lowest cost bidding is to get the lowest cost over your budget, while target cost bidding allows you to set a maximum bid.

Lowest Cost Bidding:

Lowest cost bidding used to be called automatic bidding. It optimizes to get you the lowest cost per result for your optimization choice. Facebook takes your daily budget and evenly spreads it out over a 24-hour period. It then guesses the total amount of conversions it can get across that 24-hour period for your budget. Facebook will go out and try to find the lowest cost per result for your objective.

Target Cost Bidding:

Target cost bidding used to be called manual bidding. It has two parts: maximum bid and average bid. Target cost bidding allows you to set a maximum amount that you are willing to spend. Facebook will not spend more than that amount. This is useful if you want to control what Facebook is going to spend on your daily budget. However, it requires careful monitoring and adjusting in response to the results you are getting.

Bid Cap:

Setting a bid cap is useful if you already know your average cost per result. You can set your

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