So, you have decided your budget. You know how much you are going to spend on the campaign. In this post, I’ll discuss how bidding works on facebook.
So let me explain clearly, Budget is the total cost you will be spending on any campaign and your bid tells facebook your desired maximum price for the outcome you’ve chosen to be charged for (ex: impressions or clicks).
Facebook bidding provides 3 different ways and the best thing is you can combine them to create mix budget campaign:
1. Cost Per Action (CPA): Allows sponsors to determine an amount of an activity or action and get charged by various results they get. This varies from CPM and oCPM advertisements which charge per impressions served on the site.
2. Cost Per Thousand Impression (CPM): Allows you to set a maximum amount you can spend on the campaign and you are charged as per the number of impressions.
3 Optimized CPM: Allows you to prioritize your marketing goal and then automatically shows the ads in the most efficient way possible.
Note that oCPM for Mobile App Installs is only available if the application has reported an install event in the last 28 days via the Facebook SDK or a mobile measurement partner.
So let me show you how can you choose from these three bidding ways while creating a campaign for app install on Facebook Advert Manager
1. Click on the “Create Advert”
2. Choose “Get install of your app” from the objective.
3. After you have defined your audience on the same page you will find the section “How much you want to spend?”
The part where you can select the bidding option is highlighted. In the Option bid amount, by choosing Automatic you can allow facebook to set the bid for you or by selecting Manual, you can decide the bid by your own.
And in When you are charged, you can select how do you want to spend the budget.Impressions are the number of times an ad is displayed, whether the post is clicked or not. So you will be charged each time an ad is displayed. But if you select app install you will be charged with the bid amount you have entered.
So, I have covered most of the part about facebook bidding. But to know more, you can read Facebook’s tutorial.