In this article we’d like to introduce some of the most utilised automation strategies worth familiarising yourself with.
In essence, this requires two sets of values: the floor/cap for сost per result (like click, install, or another action), and the upper/lower bid limit at Facebook Ad Auction.
To implement this strategy you need:
- a clear picture of your goal.
- the results you are looking to achieve.
- the cost you are willing to pay for each result, e.g. the price ceiling of each bid and your total budget.
Weighted Average strategy
Weighted Average strategy, put simply, is optimising the ad set to retain the desired result value by comparing it to its weighted average in all campaign Ad sets (Parent CPA). For instance, if the ad set CPA is lower than or equal to the campaign CPA, the bid or the budget increases. If the ad set CPA is higher than average, the bid and the budget can be dropped or you can disable poorly performing ads.