The offer
For now I will focus on one part of the auction, the bid. You can set the bid in many ways in Facebook. You can choose an automatic bid where Facebook tries to achieve the best results at the lowest possible cost. But you can also choose a manual bid where you bid more than the competitor. The less competition in the auction, the less chance there is that the price of the auction will be driven up by other organizations. Are there now fewer companies that advertise on Facebook?
We experienced a significant reduction in the demand for advertising, as well as a related decline in phone number library the pricing of our ads, over the last three weeks of the first quarter of 2020.
So, at the end of March, Facebook saw a significant drop in businesses advertising, and therefore also in their ad prices. It is estimated that about 30% of advertising revenue comes from the travel and film industries. You can imagine that these industries in particular have put all their marketing budgets on the back burner. According to Needham & Co. analyst Laura Martin, Facebook is losing $50 million in advertising costs just because of the postponement of the new James Bond film 'No Time To Die'.
Compare periods
With this knowledge, we compared our clients' campaigns from March 1st to April 30th with the same period last year. Many KPIs in your campaign depend on the quality of your campaign. A lower CPC says nothing about the amount of competition and can be entirely dependent on the quality of your campaign. The KPI that says the most about lower costs is the cost per 1,000 views (CPM).