Did that one Harvard computer science student know that today his one-step with his few roommates to connect Harvard students will be so humongous that today 2.89 billion people will be using it?
Not in his wildest dreams, Mark Zuckerberg would have thought that his little startup will blow up this huge!
In the last quarter of 2021, approximately 2.89 billion people were active users. In the first quarter of 2021 company stated that 3.51 billion people were using at least one of the core products of the company, i.e. Facebook, WhatsApp, Instagram, Messenger.
2012 was the year when the company surpassed the cloud of billion monthly users. Now reaching someone is just a few clicks away. You can keep track of everyone around you or even someone far (NO Stalking).
I know when you hear such gigantic figures, you also have some alarming thoughts that, What can we do with such an enormous population together in one place?
If we are not making the best out of these social media giants, then what are we even doing?Now here are some Facebook statistics that will make you leave whatever you are doing and make you jump on Facebook Ads!
1. 93% of the Social Media marketers use ‘Facebook Ads’
We are not astonished, because it is common sense. People will advertise in a city, not in a desert!
2. The potential reach of Facebook Ads is 1.9 Million
The largest Facebook audience in 2021 is men between 25 and 34, accounting for 19% of the potential reach. Men using Facebook between the ages of 18-24 make up 15%, while female users between the ages of 24-35 are responsible for 13%.
3. Facebook user mobile users spend 57 minutes on the app per day!
This is not a tiny number. Now you know people are on Facebook for at least approx an hour. Now it’s up to you how to reach them in the best way.
You need a Facebook page to advertise on Facebook and attracting quality traffic takes a lot of time!
If you want to skip the waiting part, you can buy genuine likes and followers from us with a 100% money-back guarantee! You can check it here – buy facebook likes
Now we know that what is the ‘Power of Facebook Ads’. Let’s talk about some Facebook Ad strategies.
What bid strategy should I use on Facebook Ads?
In simple words, if you want to maximize your return on investment (ROI), then you should first clearly decide what objective you have for your advertisement. Facebook Ads bid strategies work on various goals, each strategy works on a different goal. Facebook bid strategies are as follows:
1. Automated bidding
Maximizes the number of results for your budget. Higher costs of CPA, CPM. Spending your budget fully is the priority.
2. Highest Value (Uses Automated Bidding)
Spends your budget while focusing on high-value purchases.
3. Cost Cap
Controls the cost of your results. Keeps your CPA at or below a certain amount, regardless of market conditions.
4. Minimum ROAS
Controls your return on Ad spend. More control over the purchase value rather than highest bidding.
5. Bid Cap
You can manually Cap how much Facebook how
To know more about bid strategies, you can refer to this: much bids for auction. But it requires the ability to calculate bids based on conversion projected rates and marginal cost.
To know more about bid strategies, you can refer to this: Bid strategy
What is an ABO Campaign?
Ad set budget optimization (ABO) campaign is the original optimization campaign that is present in Facebook ads. In simple language, ABO helps to set the campaign budget on the ad set level.
Within the ad set, you can control how much budget goes into each ad set creative.
Ex: You set a budget of $100 for a campaign, and you have 5 ad sets. Then you allot $20 to each ad set.
What is a CBO Campaign?
Campaign Budget Optimization (CBO) was added to the market a few years back and gave a whole fresh taste to the ads. Basically, Facebook automatically finds the best-performing ads and spends according to their performances.
CBO campaign automatically distributes the budget according to their results and performance. You can even set a minimum and maximum spend limit per ad set.
Ex: You set a $1000 budget for a campaign with 3 ad sets, then the CBO campaign decides on itself where and how much to spend accordingly.
PROS and CONS of ABO and CBO Campaign
PROS of an ABO Campaign:
- ABO allows you to fully control your budget according to your needs. This works well in A/B testing so you can allot an equivalent amount to ad sets and audiences.
- ABO is good for lower spending amounts. If you are spending $500 or less on your account, then you should stick to ABO.
CONS of an ABO Campaign:
- ABO cannot scale as good as CBO. You can scale with ABO too, but CBO is more optimized for scaling.
- ABO faces more audience saturation. As you are forcing your budget into one type of audience.
PROS of a CBO Campaign:
- CBO is super scalable! With bigger audiences and the ability to duplicate the ad sets, with only well-performing ad sets. It is possible to grow and scale.
- CBO protects audience saturation because CBO doesn’t need to force spend its budget into one audience. CBO always finds and new techniques to perform.
Cons of CBO Campaign:
- CBO can be very COSTLY!
If you have a low total budget of $500 or less, then don’t go for CBO. We have found CBO works well for a $200 daily ad budget or more.
Now you know what to choose and why to choose as per your needs!
Stay tuned! For more power-packed content!