You’ve got everything you need but you don’t know how to win an ads auction on Facebook? There are few things you need to focus on in order to be ahead of other advertisers. In this article we’re going to explain to you how the Facebook ads auction works and what are the significant steps for winning.
Facebook the blue app
Facebook is more than just a blue app, it is also connected to advertising. Nowadays it has a lot of ad placements where you can run your ads. You can run them on Facebook itself, Instagram etc.
Ads can be run in Messages, Feeds, Stories, Stream videos, Search, Articles, Aps and Sites. Whenever you are scrolling down in your inbox you can easily come across an advertisement, or while you are watching stories or a live stream, again there is a variety of ads. It is the same on your news feeds, video feeds, on the right column of your page, on Facebook, Instagram and Messenger stories using vertical ad and even when you use the search button. You can get visibility for your business in any way.
The question is, how to beat competitors and win the auction? Actually, there are few steps and tips you should consider if you want to win the audience.
What are the steps in the ads auction?
- The bid – always bid your true value. You can do automatic bidding where the system chooses the value of your ad, or you an set the manual to the price you’re willing to pay. For example, if you think your purchase is worth 10$ then you should set the manual to 10$. If you are not sure how much your purchase is worth, then you should decide on Facebook’s automatic bidding. It will provide you lowest outcomes given your budget.
- Estimated action rates – If their algorithm notices that you as an advertiser are doing great with converting people, then you will have an advantage for bidding. Let’s say, many people go to your site and convert, those conversion rates get tracked and they are of significant importance to your estimated action rate in the auction.
- Ad quality – if you design your ad really well and you show it to the wrong people then you will receive a lot of negative feedback. This way your total value decreases. However, by targeting the right people with good creative you will maximize user value. You have to make sure you put it in front of the good people who will be interested in seeing it.
What are the tips to win more ads auctions more frequently?
First, make sure you’re not setting too many restrictions on your campaigns. If you’re doing too much niche-targeting or hyper-targeting, then you have a very small substance of auctions that you’re telling the system that you want to enter into. When that happens you end up having to pay higher on average to deliver your outcomes. What you have to do is target people but you need to balance that with having the scale of a broad audience. This means that there are more potential auctions for you to enter into and to win, and when there are more auctions and more inventory that means you need to win fewer of them to deliver your objectives on target.
A really good way to do this is with lookalike targeting. If you would like to learn more about this type of targeting people and about ads auction in general, contact us anytime.