What are the different bidding strategies available on Facebook Ads?

The correct answer is focused on the three primary bidding strategies that are commonly used in Facebook Ads: Cost per Mille (CPM), Cost per Click (CPC), and Cost per Action (CPA).

CPM, or cost per mille, refers to bidding based on the cost for every one thousand impressions. This strategy is typically used when the primary goal is to maximize the reach of an ad campaign.

CPC, or cost per click, involves advertisers paying each time a user clicks on their ad. This is advantageous for campaigns targeting engagement or website traffic, allowing advertisers to pay specifically for interactions with their ads.

CPA, or cost per action, is a more performance-driven approach where advertisers pay when a specific action is completed, such as a purchase or a form submission. This strategy is particularly beneficial for campaigns focused on conversions, as it directly ties the payment to achieving a desired outcome.

These three strategies provide a range of options for advertisers depending on their specific goals, whether they are aiming for visibility, engagement, or conversions. The other options either contain terms that are less commonly associated with Facebook advertising (such as CPL, CPE, CPV, CPS, or CPI) or combine multiple bidding methods that do not accurately reflect the commonly recognized strategies