When you enter an ad into the auction, Meta will bid for you. But in some cases, it may benefit you to adjust the bidding strategy to get better results. Here are your options:
1. Highest Volume: Meta will aim to spend your entire budget and get the most optimized actions. This is the default in most cases.
2. Cost Per Result Goal: When using Highest Volume, you can set a Cost Per Result Goal and Meta will attempt to keep your costs per optimized action around that amount.
3. Highest Value: In order to utilize Highest Value, you need to send purchase events with value using the Meta pixel. When using the “maximize value of conversions” performance goal, Meta will focus on generating high-value conversions rather than the highest volume.
4. ROAS Goal: When using the “maximize value of conversions” performance goal, you can set a goal ROAS that Meta will use as a guide for spending your budget.
5. Bid Cap: Controls the most you will bid in the auction, not to be confused with the most you will pay for an action. A low bid doesn’t guarantee a low Cost Per Result and vice versa.
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