Bidding on a CPM basis is starting to get interesting now that Facebook has placed CPM bid type ads into lower quality positions. A few months ago Facebook sent out a notice to advertisers that “Cost Per Click” bidding would be given a priority over “Pay per exposure” type ads.
What’s interesting? So many people ran away from CPM bids there is incredible inventory. The bad news is the click-thru rate is lower than Mike Tyson’s self esteem, but the good news is the exposures are super cheap compared to a few months ago. We’re routinely getting deeply targetted traffic in volume at $0.10 CPM bids. Overall we see this traffic average $.40-$.50/click, about half the price of cpc bidding.
There are many factors you must consider to get your CPM ads to perform optimally. Experiment with starting your ads at different times of the day, mix up your routine and track your results – then see which combinations gave you the best results, then use that consistently.