When setting up ads, you’ll need to place a bid for the maximum amount you want to pay for your objective. How much is a click – at most – worth to you? Putting in a max bid doesn’t mean that you end up paying that amount, it’s the max amount that you can end up paying. For the most part, you’ll pay far less than you bid.
A good place to start is at USD 1,- / NOK 5,- / GBP 0,50 per click. (Currency converter) With that amount you’ll be sure to get distribution for your ads, while you can sleep well at night knowing you’re not doing something crazy. The bid price varies from country to country, depending on supply and demand of ad inventory. Facebook suggests a bid range next to where you bid, and that range is a good starting point. Overbid that range, and you increase your chances of getting the distribution you want.
You can bid with CPM (cost per thousand views), CPC (cost per click), or oCPM (optimized CPM) Read more about these bidding types here.
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