Bidding on Facebook Ads...

[K]

Could you show us or link us to a guide maybe you have written or one you learnt from about getting the cheapest clicks on FB ads and how to bid correctly?

 

[charles_ngo]

I always bid higher than the suggested bid prices, and let Facebook self-adjust the bids.

For example if initially bids are $.20 - $.25 I'd bid $.30. If you have an amazing CTR, Facebook will adjust it so that even if you are bidding $.30, you might only be paying $.11. I find that playing around with the bids too much will affect the traffic levels.

Facebook is mainly about getting a high CTR.

There are also some bidding types you should experiment with besides CPC such as oCPM, and CPM.