In a word, this metric is scammy, right? I have been working with the facebook ads team, who basically used a scare tactic to get me to do what they wanted me to do by telling me that my OCPM was WAY TOO HIGH. (at the time it was 13 dollars) They wanted me to make a setting change that would allow facebook to run my ad anywhere facebook saw fit to, including the right side ad placement, and would in turn blast my ad out in a frequency of about 1000 times in less than a minute. The only problem with this is: facebook makes a killing on impressions that garner very little in return. On those 1000 impressions, I got exactly 1 desired action, which lowered my OCPM (1000 impressions, is very small cost per click seems to make this number small regardless of the amount I paid per click.) The better way to handle this is to limit your ad to the NEWSFEED, which gets my cost per like to around 1 dollar, but my OPCM is like 40.00. I don't get that at all. Facebook is trying to screw me right?
hard to say without knowing what you're trying to advertise, but best tactic is to make sure you have a tight filter on who the ads show to and cater the ads to that demographic. Have multiple campaigns and if you have slightly different demographics, cater and word the ads to attract those different demographics. I normally do ppc and not cpm though.
yeah, what I am doing is advertising to people who have interest in recycling, the planet, etc and trying to garner likes by saying landfills are bad, suggest a windshield repair. another thing is: facebook's ad team wanted me to have ad least 250,000 targets, regardless of the interests I suspect so that they can extract the maximum amount of impressions out of me.
have you looked at how much a keyword cost lately? also, people are confused and they think windshield repair means that I replace windshields, which I don't. But adwords are astronomically high, believe me.
they're in the business to make money so of course they'll suggest to try to reach as many people as possible. however, most of those people will have no interest in your ad so you'll lose money. keep your targets low and specific for maximum efficiency.
Well maybe associating what you do with windshield repairs is the first problem. When I think of windshield repairs, the only thing that comes to mind is...windshield repairs.
the correct term is windshield replacement. however, i've started to refer to what I do as rock chip repairs. the thing is though, the term windshield repairs is fluid because when you need a rock chip repair, you'd use windshield repairs also. The point being is that most people that are actually looking up the term windshield repairs online are actually looking for a windshield replacement.
Adwords requires a pretty robust system to be competitive and may not fit the OP's needs (access the FB graph, account info, and FB virality, etc). Any reason you're doing OCPM instead of typical performance ads like CPC? Usually OCPM is reserved for branding or when you can target a really niche, high conversion population. Generalized tags you would be looking at like recycle, green, planet are going to have a large % of wasted impressions with no conversions. Do you have a specific audience with specific tags you can hone in on? 13 dollars is high. I don't see how FB is trying to screw you, though they of course have agendas to get merchants to use their new products. They want to ad to have a large population so that they can optimize the system. If they have only 25k targets, it's hard to optimize a series of ads even with a great click rate (let's say 2%) -> 500 clicks, statistically very difficult to determine if relevant.
actually by marketing to the environmental crowd, I'm getting over 3% conversion rate. If a windshield is replaced, many of them end up in landfills, which people who respect the environment hate. also, I figured out why my OCPM is so high. It's basically due to the fact that my conversion rate is so high relative to my impressions. I might get 5 likes with only 300 impressions, so my average cost per like is .75 to .80 cents. To my mind then you want your OCPM to be high. Am I wrong about this?
No you don't want your CPx (cost per anything, ie any of the possible advertising models) to be high. High OCPM means you're paying a lot per thousand impressions (views of the ad), high CPC means you're paying a lot per click. Your goal is to lower the CPx to as low as you can get while getting as many quality clicks, actions, or whatever your goal is, as possible. The O in front is just a dumb product branding tag; Facebook can help you automatically optimize this rate, or you can manually break down how you want to optimize the impressions into various ways users can interact with the ad. CPM means you're buying 1000 views on the ad, regardless of if those views generate actions or not. However, it's still better to think of of the effectiveness of your campaign in terms of your cost per action. Let's say you buy 1000 impressions for $10.00: - If you get 1 action in that 1000 impressions, that 1 action cost you 10 bucks. - If you had gotten 2 actions instead, it would have been 5 bucks per action (the higher conversion rate, reduces your cost per action. Conversion rate is the same as actions per impressions). - If you had paid $5.00 for the 1000 impressions instead, that 1 action cost you 5 bucks (the lower CPM, reduces your cost per action). You want to pay as little per 1000 impressions (ad views) as possible, while getting as many actions as possible (clicks, likes, socials, etc.), to thereby lower your effective cost per action. BUT, at the same time, you want to keep the quality of your clicks. (There's a proverb for advertising which is that it's easy to either control price or volume, but not both... anyways you can disregard these last two statements). Things to take note: - Change your ads when the view count per person reaches a certain number, let's say 6-8 (this number varies depending on content/demographic). That means any one person has seen your ad on average 6+ times. FB keeps track of this and shows it to you. If someone hasn't clicked the ad after seeing it 5 times, they probably wont later. - Setting a high allowed OCPM means you're giving more room for FB to find "quality" clicks, so it's not always bad. And also you might find your CPA doesn't reach that high. You should have ads at multiple price levels (ideally the same ad) to test what works best for your campaign. - Test multiple creative versions of your ad. More the better. Single word differences or shades of a color can change the outcome big time. - Test some demographic or keyword/tag variations as budget allows. - Test some CPC campaigns against your OCPM and see which one performs better. Your content seems to be narrow in scope so I would definitely do this. - If you have some method to do so, follow users after they perform their action to see if they continue to your goal meaningfully (this is a second conversion rate, effective users per action). An even more meaningful metric than cost per action is cost per effective user. - Having a catchy ad like hot woman or a meme could generate huge volume of actions to your ad, but these users end up not being target users). Conversely, a very narrow scoped ad will have low volume but likely be your target audience.
Yes, Cossover this helped. However, I am not sure I am totally getting the OCPM and it's usefulness. Say, for example, OCPM tells me I am paying 40.00 per 1000 impressions, I am still not sure why this number is 40.00 and not 10.00. To my mind, I have no control over that. The only thing that I am seeing is that each time my page is liked it cost me a set amount for it. In my case, that's .94 cents. I got 15 likes yesterday with 668 impressions. Correct me, if I am wrong but if I would have gotten 15 likes with say 1500 impressions my OCPM would have went down, but my costs go up because my impressions and click through rate are higher.
Is there a reason why you think OCPM would go down? Unless it's some terminology I'm not familiar with (like OCPM = an implied effective value... this would be weird), your cost and OCPM should be synonymous. The more impressions you have to buy for each like, the more "buckets" of 1000 impressions you're buying, the more your cost and less effective your ad.
Also keep in mind that some of these tools are targeting more basic users and you might be too advanced to really get much benefit from it.
