What is objective-based bidding?

Objective-based bidding is a type of paid social advertising in which advertisers set a specific goal for their campaign, and bids are based on how likely the ad is to achieve that goal.

For example, if an advertiser wants to increase brand awareness, they would set a reach objective and bids would be based on how many people see the ad. If an advertiser wants to increase sales, they would set a conversion objective and bids would be based on how many people click on the ad and make a purchase.

Objective-based bidding can be used on most major social media platforms, including Facebook, Instagram, Twitter, and LinkedIn.

Why use objective-based bidding?

There are several reasons why you might want to use objective-based bidding for your paid social advertising.

First, it can help you to focus your ad spend on the goals that are most important to your business. For example, if you are trying to increase sales, you can set a conversion objective and only pay for ads that are likely to result in a purchase.

Second, objective-based bidding can help you to get the most out of your ad spend by ensuring that your ads are seen by the people who are most likely to take the desired action.

Finally, objective-based bidding can help you to track and measure your results more effectively, so that you can see how well your ads are performing and make adjustments as needed.

How to set up objective-based bidding

Setting up objective-based bidding is fairly simple and can be done in just a few steps.

First, you will need to choose the social media platform on which you want to run your ads. Facebook, Instagram, Twitter, and LinkedIn all offer objective-based bidding.

Next, you will need to select the objective that you want to focus on. As mentioned above, options include reach, brand awareness, engagement, video views, leads, website traffic, and conversions.

Once you have selected your objective, you will need to set your bid. This is the amount that you are willing to pay for each desired action. For example, if you are bidding on a reach objective, you might set a bid of $2.00 per thousand impressions.

Finally, you will need to set your budget. This is the total amount that you are willing to spend on your ad campaign.

Once you have completed these steps, your objective-based bidding campaign will be up and running.

What are the benefits of objective-based bidding?

There are several benefits of using objective-based bidding for your paid social advertising.

First, it can help you to focus your ad spend on the goals that are most important to your business. For example, if you are trying to increase sales, you can set a conversion objective and only pay for ads that are likely to result in a purchase.

Second, objective-based bidding can help you to get the most out of your ad spend by ensuring that your ads are seen by the people who are most likely to take the desired action.

Finally, objective-based bidding can help you to track and measure your results more effectively, so that you can see how well your ads are performing and make adjustments as needed.

What are the drawbacks of objective-based bidding?

There are a few potential drawbacks to using objective-based bidding for your paid social advertising.

First, it can be more expensive than other types of bidding, such as CPC or CPM. This is because you are paying for each desired action, rather than simply for each click or impression.

Second, objective-based bidding can be more complex than other types of bidding, and it may take some time to learn how to set up and manage a campaign effectively.

Finally, objective-based bidding is not available on all social media platforms. If you want to use this type of bidding, you will need to choose from one of the platforms that offers it.