These are various ways of bidding for Facebook Ads distribution, and you’ll use them depending on what your goal is.
CPM means Cost Per thousand (Mille), and is how much you want to pay to reach 1000 people on Facebook with your ads. We recommend CPM for engagement campaigns, and campaigns that are more about branding, or getting a product out there in plain view.
CPC means Cost Per Click, and is how much you pay for each click on your ads. Want conversions, such as traffic to your website or into your campaign site? -CPC is the way to go. It keeps you in control of the click price and is excellent for split testing. You can read more about split testing here. Beware: if you’ve set website clicks as your campaign objective, this is not the same as a click. “Say what?!”: Website clicks are not the same as clicks. A click is a click anywhere on your ad, while a website click is a click that goes to your website. These will vary based on how prevalent the link is in your ad, and how many who click Like instead of clicking the link, and so on. Choose CPC for website clicks, but keep an eye on the price per website click as the campaign unfolds.
oCPM means Optimized CPM, and means that Facebook do their best to keep your price as low as possible, tied to your objective. A great initiative by Facebook, but in our experience it works poorly with audiences smaller than 1 million people. So if you’ve got a campaign, and the target audience is 500.000 Facebook users, oCPM is not the way to go, from our experience.
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