Facebook Bid Strategy Options

Meta renamed some of their bid strategy options to make them easier to understand and compare.

Previous name	New name
Lowest cost	Highest volume
Cost cap	Cost per result goal
Minimum ROAS	ROAS goal

The highest value and bid cap bid strategies continue to go by the same names.

Meta offers 3 types of bidding: spend-based, goal-based and manual.

Spend-Based

Focus on spending your full budget and getting the most results or value possible.

• Highest volume: Maximize delivery and conversions you can get from your budget. For example, an event planner may use Highest volume to get as many people as possible to attend an upcoming music festival, where cost per attendance doesn’t matter.

• Highest value: Spend your budget and focus on highest value purchases. For example, a florist may use highest value to sell as many bouquets as possible, while focusing on selling more expensive bouquets to maximize value.

Goal-based bidding

Set a cost or value you want to achieve.

• Cost per result goal: Strive to keep costs around the cost amount regardless of market conditions. For example, a retailer optimizing for purchases may set their cost amount to a cost per purchase that will keep them profitable on average. Note: Adherence to cost per result goal limits is not guaranteed.

• ROAS goal (return on ad spend): Aim to keep return on ad spend around an average amount over the course of your campaign. For example, if you want your budget of $100 to produce around $110 in purchases (or a 110% return), you’d set your ROAS control at 1.100. Note: Adherence to ROAS amount is not guaranteed.

Manual bidding

Control how much you can bid across ad auctions.

• Bid cap: Set the maximum bid across auctions, rather than allow Facebook to bid dynamically based on your cost or value goals. Bid cap is meant for advertisers who have a strong understanding of predicted conversion rates and can calculate the right bid.

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