Lowest cost bidding: This is a basic bidding strategy where Facebook Ads automatically optimizes bids to get the lowest cost per optimization event (such as clicks, impressions, or conversions).
Target cost bidding: Target cost bidding is an automated bidding strategy where advertisers set a target cost per optimization event. Facebook Ads will then automatically adjust bids to try to achieve the target cost.
Cost cap bidding: Cost cap bidding is an automated bidding strategy that allows advertisers to set a maximum cost per optimization event. Facebook Ads will then automatically adjust bids to stay within the cost cap.
Bid cap bidding: Bid cap bidding is a manual bidding strategy where advertisers set a maximum bid for each optimization event. Facebook Ads will not exceed the bid cap, and will bid as low as possible to get the most value for the budget.
Target ROAS bidding: Target ROAS (return on ad spend) is an automated bidding strategy where advertisers set a target ROAS, which is the revenue they want to generate for each dollar spent on advertising. Facebook Ads will then adjust bids based on the likelihood of achieving the target ROAS.
Value-based bidding: Value-based bidding is an automated bidding strategy where advertisers optimize bids based on the lifetime value of customers. Advertisers set a target value, and Facebook Ads will automatically adjust bids to maximize the value generated from the campaign.