The Facebook Power Editor is currently showing an interesting alert in all accounts announcing a big change related to the new bidding options:
This might seem like a standard improvement from Facebook but it actually goes far beyond that.
This update will influence two of the most important metrics in Facebook:
- The automatic optimization of your ads
- The overall Facebook bidding best practices
Based on my last conversation with Facebook, the company is investing a significant amount of resources in their automatic bidding system. At the same time, the teams make sure to give users the possibility to control ads as much as possible.
Overview of Bidding Changes
Let’s have a look at the main changes you will see on Facebook starting on Monday, November 23rd:
- Optimizing for conversion will stop limiting your bidding options. From now on, you will be able to optimize for conversions and still pay for website link clicks
- Cost per impression will not be the only option for ad sets that are optimized by conversion
- You will not pay for clicks on likes, shares and comments (or any other social action) when your objective is website conversion or website clicks. This is a big change that will finally satisfy supporters of CPC bidding methods
- Optimized CPM is going to be removed from the targeting options. You can now set it up manually by selecting the option to optimize for clicks while paying per impression.
This is a big change that brings Facebook Ads closer to the needs of the advertisers.
Make sure to not have any unpublished changes in your accounts or they will be lost after the upgrade!
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