If you prefer to manage your own bid amounts instead of letting Facebook's algorithm manage them for you, this lesson is for you. Managing bids yourselves does take more effort and expertise, so if you're a beginner advertiser on Facebook, I recommend sticking with Facebook's default automated bid management option called "lowest cost control."
Most Facebook advertisers set bid caps on the ad set level that applies to all ads because it's easier than managing bids on the ad level. Well, that's where Revealbot comes in. With automated rules, it's easy to manage bids individually on the ad level. In this lesson, I'm going to walk you through setting an automated rule to increase the ad-level bid if an ad isn't getting enough impressions.
To start, we'll create a new rule from scratch.
Give your rule an appropriate name and we'll select this rule to apply to all active ads in ad sets with active delivery and ad delivery is active.
For the action, we'll choose "Increase bid." And in the action's settings we'll choose it to apply to active ads only, choose to increase the bid by $0.50, leave the maximum manual bidding cap blank, and every 30 minutes for the frequency limit.
Now we're going to write two conditions. For the first, we'll choose "Bid amount" as the initial metric, and select less than, and $5 for the value.
For the second condition, we'll choose "Impressions" as the initial metric, "Last 2 hours (including current hour)" for the period, less than, 100 the value.
So with these two conditions, our rule says if the bid amount is less than $5 and the impressions in the last two hours is less than 100, we'll raise the bid by $0.50 every 30 minutes.
Now we can finish the rest of the rule's settings and set the Rule frequency to every 30 minutes. Then we can set the rule live.
This rule is just one example of how you might possibly manage bids automatically with automated rules. As you might have noticed, you can also create rules to decrease bids, set bids, or even scale bids by target with automated rules. No matter how complex your bid management strategy is, you can most likely fully automate it with Revealbot.
Be sure to check out the "Advanced rule conditions" section in this course to learn more advanced ways to write your bid management conditions.
But first, we're going to look at setting up an automated rule to notify us when our fully automated system needs more ads in the next lesson.
