Bid Optimization
Why is my CPC so High?
Have you considered using FOF targeting on your ads? If you have 10% social percentage on the ads, FOF targeting is not being used. FOF targeting will significantly increase the CTR, which then reduces the CPF (Cost Per Fan).
Walking Down the Bid
Walking down bids gradually is smart. A new ad should start at the top of the recommended CPC range, then gradually decrease, keeping at the top of the recommended range.
CPM or CPC?
We do CPC when we want to drive clicks or some form of engagement. We do CPM when it’s a really small target, hits an existing small fan base, or is just to drive awareness.
Setting Budget For New Campaigns
A high daily campaign budget can easily cause a thousand dollars of loss in a couple of hours. If you want to test, create a new campaign with a low budget, then promote the ad to the production campaign.
Working With Ads that aren’t Performing Well
No need to turn bids down to $0.05. If an ad isn’t doing well, bid down to $0.10 above the ad that is pulling best. So, if the best Sprint ad is at $0.55, then you can bid $0.65, for example. That should give us “some” traffic, while a $0.05 bid is totally shut out of the ad auction.