It will be pretty obvious when this occurs. So you don’t need to play the bench game where you get to play then, coach tells you you’ve gotta take a seat. I asked some of my favorite advertisers what they’ve seen in regards to CBO and have detailed their recommendations into helpful takeaways below. This campaign tends to perform very well because each of the audiences has already been tested. A conversion campaign, according to Facebook’s algorithm, will look to acquire customers at the lowest cost per acquisition (or at the highest value, depending on the bidding structure). So do expect some spending fluctuations. If you notice this happening in your campaigns, we recommend setting a minimum budget to mitigate the problem. But, for our newcomers, we need to quickly cover how facebook campaigns are structured, so you can understand the implications of this huge update. Santa Monica, CA 90401, 981 Mission Street Good news: If this paragraph is live, THERE IS STILL TIME.
You can help feed CBO the data it needs to get the best out of your ads by setting enough budget to hit that 50 per week target. You can apply your Facebook marketing budget day-to-day with a daily budget spend, or you can choose the lifetime budget which will last across the entire lifetime of the campaign. It arguably devalues the competitive edge that their expertise gives them on this platform. Good luck, and happy advertising! Once you flip on CBO to optimize budget across ad sets, you’ll be able to input your daily budget and select your bidding strategy. This sounds great, but a lot of you are freaking out over a loss of control. As a backstop to the type of budgeting issues we discussed above, Facebook has built a tool for setting spending limits into its CBO. This means applying minimum and maximum budget guidelines for Facebook to spend between. We hesitate to sing its praises knowing it won’t always be an option, but we do commonly find ad set budgeting to be the most effective strategy when testing new audiences. Some claim they are “crushing it on CBO” while others tried CBO once, their campaigns totally tanked, and so they’ve never tried it again. CBO, which uses an algorithm to determine the best distribution and budget for a campaign based on predictive bidding, is intended to be the most efficient way of optimizing campaigns. While this may seem like a minor change at face value, advertisers will have to implement completely new strategies in order to see continued success with Facebook Ads. This keeps the audience fresh and expanding in a safe and guided way.
I’ve realized since teaching courses with Jon that one of my greatest responsibilities isn’t to just report out the data I’ve personally seen in my accounts, but I also should SHARE and COMMUNICATE what’s working for others around the world. Smart advertisers should start honing their CBO strategies now! A common problem that we’ve encountered when using CBO for testing campaigns: The budget will pool into one or two of the best performing ad sets, not leaving enough budget for the other remaining ad sets for testing. Analytics for SERP positioning? CBO is a step toward a purely automated advertising future, in which decision-making is left to an algorithm, rather than humans.
Facebook recently introduced a new option for campaign budget optimization to take the heavy lifting off of advertisers, leaving efficiencies up to Facebook’s algorithm. Don’t worry, I’ll divulge that info soon enough. With this particular structure, it’s probably best to begin with the image.
For this reason, they recommend allowing CBO complete control.
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