Facebook knows a lot about its users. Not only what they like, but also their propensity to click on ads, install apps, like a page etc. Facebook has taken advantage of this knowledge in its latest feature; oCPM.
oCPM stands for Optimized CPM and is a new bid type. This bid type enables you to choose an objective for your advertising and Facebook will optimize your ads delivery to meet these objectives.
In Facebook’s self-service interface you can select to optimize for actions but in Qwaya you are able to select between four different goals;
- Optimize for Reach
- Optimize for Actions
- Optimize for Social impressions
- Optimize for Clicks
Facebook will do the bidding
With oCPM you don’t select a max bid, instead Facebook will bid on your behalf, and optimize the distribution of your defined budget to meet your objectives.
If you choose to optimize for reach, Facebook will bid so you get the maximum amount of impressions, given your budget.
If you choose to optimize for Actions, Facebook will bid high when the impression is likely to generate an action and bid low if the impression is not likely to generate an action. Since Facebook only measures Actions on Facebook objects, this option is only available for ads that drive traffic inside of Facebook.
If you choose to optimize for Social impressions you will get the maximum amount of social impressions, given your budget.
If you choose to optimize for clicks, Facebook will bid high when the impression is likely to lead to a click on the ad, and bid low when the impression is less likely to click.
In a nutshell - use oCPM if you want your ads to be delivered to the highest-value target group for your goals.
Use oCPM in Qwaya
In Qwaya you set the bid type to oCPM in the Targeting tab.
You can also change to oCPM from CPC on already published ads in the “Ads” tab.
Select the ads you want to change to oCPM and click on Bidding