Hi there!
So I realized my biggest sticking point in entrepreneurship is traffic.
The most unhelpful piece of advice is often the one which gets quoted to me the most, neatly summarized as either buy an ad on Google, or get an ad on Facebook.
This vital piece of advice is very rarely, when given, explained beyond the few short words of its recommendation.
I decided to take matters into my own hands while I save up for Andy Black's AdWords Course and jump into teaching myself the art of Facebook advertising with their newly launched program Facebook Blueprint.
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That said, I'm having the hardest time understanding this stuff.
Right now I'm in their "Ad Auction and Delivery Overview" section, and they're detailing the formulas used for their bid price.
For CPC: [(CPC Bid) * (eCTR) * 1000] + Ad Relevance Factors
For CPM: (CPM Bid) + Ad Relevance Factors
For Actions / Impressions: (CPA or oCPM Bid) * (eCTR * Conversion Probability) + Ad Relevance Factors
This information isn't quite newbie friendly, and I have no idea what to make of it. How do I use this knowledge to my advantage when building an Ad?
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Secondly, on pricing, they mention that the price paid is based on the value lost by all other bidders...to avoid undercutting.
What does this mean? How does this effect the price of my ad?
So I realized my biggest sticking point in entrepreneurship is traffic.
The most unhelpful piece of advice is often the one which gets quoted to me the most, neatly summarized as either buy an ad on Google, or get an ad on Facebook.
This vital piece of advice is very rarely, when given, explained beyond the few short words of its recommendation.
I decided to take matters into my own hands while I save up for Andy Black's AdWords Course and jump into teaching myself the art of Facebook advertising with their newly launched program Facebook Blueprint.
_____
That said, I'm having the hardest time understanding this stuff.
Right now I'm in their "Ad Auction and Delivery Overview" section, and they're detailing the formulas used for their bid price.
For CPC: [(CPC Bid) * (eCTR) * 1000] + Ad Relevance Factors
For CPM: (CPM Bid) + Ad Relevance Factors
For Actions / Impressions: (CPA or oCPM Bid) * (eCTR * Conversion Probability) + Ad Relevance Factors
This information isn't quite newbie friendly, and I have no idea what to make of it. How do I use this knowledge to my advantage when building an Ad?
-
Secondly, on pricing, they mention that the price paid is based on the value lost by all other bidders...to avoid undercutting.
What does this mean? How does this effect the price of my ad?
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