Getting the best performance on Facebook advertising requires more than creative content and audience targeting. A good sense of timing can help you save money when bidding for ads.
Since Facebook has a limited supply of people who can view advertising, the site uses a marketplace system: The highest bid price per click on an ad wins the opportunity to display a promotion to the sought audience.
Bidding when there’s less competition can help advertisers win auctions with lower-priced bids.
All advertisers on Facebook compete with each other to reach users, whether they’re targeting wide sets of demographics or specific niches.
When more advertisers are trying to reach the same audience, the bid price required to secure impressions rises.
Facebook helps you gauge the overall supply and demand in the marketplace by providing data on suggested bids. The higher these prices go, the greater the competition there is for a particular audience you’re seeking.
The chart above shows how fluctuations in supply and demand influence the bid price necessary to win the bidding on a particular audience segment. The graph comes from ad service provider AdParlor, which manages over 15 billion Facebook ad views a month, tracked the suggested bids Facebook provided across thousands of ads it ran each day.
The chart above shows that ad prices spike during August; that’s likely due to increased competition for back-to-school ad campaigns.
If your campaign isn’t urgent, perhaps you could pause it during this season. Other times you might want to skip include the major winter gifting holidays, plus back-to-school season, Halloween, and Mother’s Day.
Avoiding bids during peak competition can help you better manage your advertising budget.
To read more, click here for the Facebook Marketing Bible.
Thanks to AdParlor for the data.