There is something that I don't understand with Facebook, made a ad and choosed CPM (recommended bid) and let be active for 24 hours. I got 5 impressions....
So i switched to CPC and got 20 000 impression under 2 hours. WTF?
Are you just only starting out with Facebook ads? If so you should start with CPC to find ads that are getting a high CTR and then make those ads into CPM. I only just started Facebook ads myself, but I'm learning quickly because of a few affiliate blogs...here are the ones I read:
That's pretty much all you need to know what to do IMO. The rest is up to you and testing over and over again to make the highest EPC ad which you can then scale up.
I've noticed when initially bidding CPM that I have to start my bids above the suggested bids. But these are really small demo's, like 15k, but the clicks are still cheaper than CPC.