The reason I positioned the headline of this blog in this manner, “Does Your Facebook Ads Company Know?” is because you really do have to be a practitioner of this craft on a daily basis to know these things.
Facebook Ads Manager is like a culmination of 40 different car engines from different manufacturers throughout the last 5-6 decades. There are that many different intricacies, features, nooks and crannies.
The bid cap on a Conversion Objective is one I came across recently. A client of ours had a pretty standard budget, and we broke it out daily, but we but a bid cap on it’s “Lowest Cost” option. Facebook Ads Manager defines the bid cap as… “We’ll get you the lowest cost results, based on your optimization for ad delivery, and bid more as needed to spend your budget. You can set a bid cap if you want to make sure we don’t bid more than a certain amount for any result. BEST FOR: Spending your budget efficiently. THINGS TO CONSIDER: Cost may rise as you spend.”
At first the bid cap seemed like a great idea. Nobody wants to spend more than they have to. But here’s what happened…