AMA #1: Bid Caps

You had questions about Bid Caps. I answered them. Questions ranged from why your Bid Caps are underspending, why they're overspending, and whether or not they just target lower funnel traffic you were already going to get. Hopefully this episode helps you manage your Meta Ads smarter. And if you have suggestions for my next AMA, email me or DM me on X and maybe I'll do it. SUBSCRIBE ON YOUTUBE The Andrew Faris Podcast is now available on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ at www.youtube.com/@andrewfarispodcast. EPISODE HIGHLIGHTS [00:02:19] Bid caps Account structure. [00:03:23] Bidding strategies and ad sets. [00:06:18] Bid caps and auto budgets. [00:10:01] Optimization and measurement in advertising. [00:12:27] External forces and bid caps. [00:15:11] Bid caps vs. cost caps. [00:19:20] Bid caps and performance optimization. [00:22:01] Longer consideration cycle and bidding. [00:26:31] Testing new creatives with bid controls. [00:28:54] Bid caps and budgeting. [00:31:05] Turning off ads in CBO campaigns. [00:34:07] Optimizing for one day click. [00:37:39] Fixed budget allocation strategies. [00:40:06] Bid caps vs cost caps. [00:44:12] Restarting ad sets with lower spend. [00:46:37] Bid and cost cap strategies. [00:51:12] Running multiple ad accounts EPISODE SPONSOR Virtual assistants can be helpful. Virtual professionals can transform your business. Get connected to incredible ecommerce talent from the Philippines with More Staffing by visiting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.morenow.co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. ORIGINAL THREAD WITH QUESTIONS https://twitter.com/andrewjfaris/status/1722364104852267361 REFERENCED IN THIS EPISODE "Jess Bachman Lights Creative Strategy On Fire" AJFP Episode (Spotify, Apple) "My Exact Creative Testing Method For Meta Ads" AJFP Episode (Spotify, Apple) My Unit Economics Sheet & Cohort Forecasting Guide can both be found by signing up for my email list at https://ajfgrowth.com. FOLLOW UP WITH ANDREW Follow Andrew on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@andrewjfaris⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Email Andrew: [email protected] Work with Andrew: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ EPISODE MUSIC Music Intro: "⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tell Me Mama⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠" by The Devious Means Music Outro: "⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Rusty Little Scissors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠" by The Devious Means