Describe the difference between automatic and manual bidding on Facebook Ads.

When running Facebook Ads, you have the option to choose between automatic and manual bidding. Here's a description of the difference between automatic and manual bidding on Facebook Ads:

1. Automatic bidding: Automatic bidding is also known as "lowest cost" bidding. With automatic bidding, Facebook's algorithm automatically sets your bids to get you the most results at the lowest cost, while still meeting your targeting and budget requirements. Facebook's algorithm takes into account a variety of factors, such as ad relevance, estimated action rates, and competition, to determine the optimal bid for each auction. Automatic bidding is a good option if you're new to Facebook Ads or if you're working with a smaller budget.
2. Manual bidding: Manual bidding is also known as "bid cap" or "cost cap" bidding. With manual bidding, you set the maximum amount you're willing to pay for each result, such as a click, impression, or conversion. You can also set a bid cap, which is the maximum amount you're willing to pay for each auction. Manual bidding gives you more control over your bids and allows you to optimize for specific goals, such as maximizing conversions or minimizing cost per acquisition. However, manual bidding can be more complex and time-consuming than automatic bidding.

In general, automatic bidding is a good option for most Facebook Ads campaigns, especially if you're new to the platform or working with a smaller budget. Automatic bidding allows Facebook's algorithm to optimize your bids for you, which can save you time and help you get the most results at the lowest cost. However, if you have specific goals or if you're working with a larger budget, manual bidding can be a good option to consider. Manual bidding allows you to have more control over your bids and optimize for specific goals, but it can be more complex and time-consuming than automatic bidding.