Imagine taking part in a massive worldwide auction, with millions of others simultaneously bidding on the same exact product. In the physical world, this auction would be an unintelligible, chaotic event where it would be virtually impossible to rise above the fray.
Thankfully, the always-on global auction for Facebook advertising is a highly efficient operation. The basic principle, though, is the same: as a marketer, you’re bidding against countless other advertisers for limited inventory to get your message in front of the people who matter to your business.
Bidding to win on Facebook
All advertisers want to maximize their return on investment. Matching your ad bid type to your marketing campaign objectives is an important step toward that goal. By understanding the differences between CPC, CPM, oCPM, and CPA, you’ll be better able to make strategic decisions to improve campaign performance and ultimately be more effective in engaging your best customers.
Facebook offers a number of resources to get you started, but we’ve taken our years of experience in social advertising and compiled the helpful infographic below. If you’re never quite sure when to bid CPC instead of CPM, or exactly what oCPM means in terms of who you’re reaching, this infographic is for you.
Take a look for an explanation of Facebook’s distinct bid types, how they impact your ad’s effective reach, and tips to help you achieve your campaign ROI goals at scale.
Click here to download a PDF version of the infographic below.Facebook Ad Types Cheet Sheet for the latest ad creative specs, helpful tips, and more.