In this article we’d like to introduce some of the most utilized automation strategies, worth familiarizing yourself with.
- Tunnel strategy
In essence, it requires two sets of values: the floor and cap for Cost per Result (like click, install or another action), and the upper and lower bid limit at Facebook Ad Auction.
In order to implement this strategy, you need to have a clear picture of what your goal is, what results you are looking to get and how much you are willing to pay for each result together with the maximum value of your bid and your total budget. Your bid will be changing within the set boundaries at set intervals (for instance, 2 cents), helping you to achieve the most results at a lower cost.
- Weighted Average strategy
Weighted Average strategy is basically optimizing the Adset to retain the desired result value by comparing it to its weighted average in all campaign Adsets (Parent CPA). For instance, if the Adset CPA is lower than or equal to the campaign CPA, the bid or the budget is increased. And if the Adset CPA is higher, the bid and the budget can get dropped or you can set to disable poorly performing ads.
- Funnel Strategy
In Facebook advertising, an advertisement (ad) or a group of ads (ad set) may perform not as well the following day as they did on the previous one. One of the main goals in automation is to spot poor performance as early as possible to switch it off while leaving better performing ads running.