Imagine you're climbing a mountain. You have the option to take the long, winding path, carefully choosing each step or you could hop on a high-speed elevator, effortlessly reaching the summit in record time. Unless you’re an avid hiker, the second option likely sounds more manageable and more ideal.
The same applies when we think about bidding strategies within the Meta advertising platform - historically, manual bidding has been a way to “hack” your way to more specific results, but as Meta’s algorithmic technology has advanced, automated bidding is both the present and future. Many advertisers have hesitations about automated bidding, but let's address the three biggest objections and show you why it's the best option for scaling your performance.
Objection #1: Loss of Control
Some advertisers fear losing control over their campaigns with automated bidding. However, automated bidding actually gives you more control by leveraging data and algorithms to make real-time optimizations, ensuring your ads are shown to the right audience at the right time.
Objection #2: Lack of Transparency
Transparency is crucial in advertising, and some worry that automated bidding leads to a lack of visibility into campaign performance. In reality, automated bidding provides detailed insights and reporting, allowing you to track performance metrics and make informed decisions to optimize your campaigns.
Objection #3: Limited Customization
Manual bidding allows for more customization, but this often leads to time-consuming manual optimizations. Automated bidding, on the other hand, offers advanced targeting options and machine learning capabilities that can scale your campaigns efficiently while still allowing for customization where needed.
By embracing automated bidding strategies on Meta, you can unlock the full potential of your advertising efforts and achieve unprecedented performance at scale. Don't let fear hold you back - take the leap and elevate your campaigns to new heights with automated bidding.
Automated bidding maximizes cost efficiency
Cost caps and bid caps were once considered the secret to scaling top performing ads on Facebook. Cost caps allow you to set an average cost per purchase that the ad set should aim for, while bid caps specify the maximum amount you're willing to bid for a purchase.
Both strategies were used to help maximize cost efficiency.
However, while these manual bidding strategies offer a degree of control, they may require more time and effort to manage and optimize. That's why many advertisers are shifting towards automated bidding, which uses machine learning to optimize bids in real time, delivering more efficient results and saving valuable time.
Harness the power of Facebook's machine learning algorithm
Marketers and media buyers rely on the standard funnel framework because it helps us organize key actions a user makes from awareness to buyer. Segmenting audiences based on where we believe they are in the funnel is quickly becoming a dying practice, considering that Meta’s been removing plenty of interests from its targeting since 2021 in the name of user/data privacy.
With Meta’s algorithms learning from real time, in-platform user data, Meta’s algorithm has the ability to extrapolate key data points that allow for confident bidding every single time, making your efforts to control how much you’re willing to spend for a buyer obsolete.
Ushering in a new era of audience targeting
Today, media buyers are efficiently ‘targeting’ their audience through their ad creative content + copy, not through interest targeting. In the same way, proficient media buyers utilize automated bidding strategies and optimize the quality of Meta’s bids through proper measurement & conversion tracking, experimentation, trend analysis and quality ad creative.
Wondering how to make these things possible within your own ad account? BlueSwitch media buyers rely on the foundational principles of marketing coupled with data-driven knowledge of Meta campaign optimization.
Want to know more? Contact Us today to find out which area of your strategy is blocking your growth on Facebook.
