Facebook Ads...what's up with this?
Since I had a good CTR, I figured I could cut costs by copying the settings but utilizing CPM-type bidding. As long as I maintained a similar CTR, the cost should be significantly cheaper.
However, when I copied the campaign exactly, my clickthrough rate fell dramatically with CPM, and the cost-per-click actually increased signficantly. Why? It's the same ad with the same criteria, so I would expect a similar CTR. The CTR on the new ad was drastically lower.
Was it just a fluke? Or does the quality of traffic somehow drop when bidding via CPM?
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