Which bid to choose in the Facebook auction?

The auction takes place in real-time on Facebook every time a person uploads one of the advertising placements - feed, story, or video. The bid is one of the parameters that determine the success of the auction and the overall effectiveness of the campaign. Therefore, you need to be able to work with them. One of the main reasons is an established ROAS below which it is not possible to fall.

The lowest cost is the most common option among professionals, it is at this rate that most companies campaign.

Its main goal is to find the cheapest conversions. Algorithms also can automatically determine the required bid in each auction. The bet is good for starting and scaling. But there are often situations when the system finds the cheapest conversions, but they do not pass the KPI. Then you need to start working with manual bets.

Bid cap - we manually set our maximum bid in each auction.

But in fact, we do not pay this price, but the second price, ie the rate that immediately followed ours. Not suitable for every project, so you need to take a test.

Cost cap - we manually set the maximum price for the result in each auction, and algorithms already determine the bid in real-time. Suitable for optimization and stable results.

Each of the bets has both pros and cons. Therefore, it is possible to determine which of the bids will be the most effective only after the test on a specific campaign. And comparing the data in the dynamics.