Be Willing to Outbid During Peak Seasons
The bidding system, true to its nature, fluctuates. When more advertisers enter the market or start increasing their total ad spend, bid prices go up. There's only so many spaces in users' feeds to fill, after all.
If you want to get some of those crucial Black Friday, holiday, and Valentine's Day clicks, for example, you have to outbid the competition. Calculate what you can afford and ramp up your bids and your ad spend just before the peak seasons set in.
- When should I lowest cost, and when should I set a bid cap?
If your goal is to maximize profit and get leads at a low cost, choose the lowest cost strategy.
- When should I use the target cost strategy?
If you want to maximize delivery and get as many conversions as possible, target cost is the way to go. Just keep in mind that these conversions may cost a little more.