FB ad suggested bid price

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Hi, is it necessary to keep your bid within suggested price range? For instance bid range for CPM is 0.05-0.11 if I bid 0.4 means less people will see my ad? If i would bid 0.12 more people will see my add?
The same every situation CPM CPC the bigger bid you give means the bigger audience will see your ad, or your ad will be shown more often?

#bid #price #suggested

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