Running an FB campaign focused on performance is, like I said, a game of finding the lowest on-target/high-conversion CPM (conversely: finding your intended audience at its cheapest). It's not in Facebook's interest to disclose this information too easily, as part of their profit margin comes from squeezing campaign spread.
So my thinking here is that their tools are poor at performance optimization by design, so that we have to jump through hoops, experiment and throw money at different audience mixes in order to find just the right creative-segment-budget allocation. So I don't think that is headed to change so long as they are allowed to keep playing black box and walled garden.
I was astounded how easy it was to get better CPA/ROI running Facebook campaigns on, say, DBM or Criteo even at a premium on the CPM. It goes to show just how lacking their tools are in fast audience and creative optimization.
So my thinking here is that their tools are poor at performance optimization by design, so that we have to jump through hoops, experiment and throw money at different audience mixes in order to find just the right creative-segment-budget allocation. So I don't think that is headed to change so long as they are allowed to keep playing black box and walled garden.
I was astounded how easy it was to get better CPA/ROI running Facebook campaigns on, say, DBM or Criteo even at a premium on the CPM. It goes to show just how lacking their tools are in fast audience and creative optimization.