"Where's the CPC estimate?!"
Familiar to any of you who've recently setup FB ads?
They're not making things easy because...
THEY WANT YOUR MONEY!
"Let Facebook get the best prices for your clicks"
Yeah right, pfft.
For those setting up a "Clicks To Website" campaign, you NEED to know the difference between..
1. CPC (Cost per click)
You pay each time a customer clicks your ad.
2. CTW (Clicks to website)
Your cost goes up as your impressions go up. So if you get 0 clicks from 1k impressions.. It's too bad.
3. CPM (Cost per thousand impressions)
Same concept as CTW.
4. DUR (Daily unique reach)
Same concept as CTW and CPM just that you get to decide your reach.
That's right, 3 out of 4 of them are actually CPM.
Without proper management, you can blow your budget EASILY with CPM.
And that's exactly how they make money.
Once you get some stats, if your CTR is looking good then you can swap to CPM or CTW.
Here are some screenshots on how you can change the settings: