---
title: Meta bid strategy — minimum ROAS vs cost per result goal vs lowest cost
slug: meta-bid-strategy-min-roas-vs-cost-cap
summary: CTC's analysis of ~$1.5B Meta spend across ~320 accounts (Mar–Jun 2026) found minimum ROAS lands within a few percent of its target at portfolio level while the cost-per-result goal hit target less than half the time (on Google tROAS 1.3× target, tCPA 0.8×); why value bidding gives the algorithm more room, how CTC sets the target from margin and incrementality, budget liquidity, and the low-volume counter-advice to avoid manual bids.
domain: marketing
tags: [meta-ads, bidding, cost-controls, min-roas, cost-cap, value-optimization, google-ads]
related: [meta-underspend-and-never-turn-off-ads, meta-optimization-event-and-lead-quality, meta-account-structure-2026, meta-incremental-attribution-model, meta-new-account-low-volume-setup, meta-scaling-winners, creative-demand-formula-carry-rate]
sources: [yt:DBvtLzi_j7o, yt:-BYAC0ALW78, yt:C0R5YJiWpig, yt:du6rDgRf06g]
updated: 2026-10-24
---

# Min ROAS vs cost cap vs lowest cost

## TL;DR
- **CTC portfolio study** (Tony Chopp; ~320 Meta accounts, ~$1.5B spend, Mar–Jun 2026). **Minimum ROAS** delivered within "several percentage points" of its target across the portfolio. The **cost-per-result goal** hit its target **less than half the time**.[^1][^2]
- **Google** (134 stores, ~$100M, Jun 2024–May 2026). **tROAS** ran at **1.3×** its target, above it. **tCPA** ran at **0.8×**, short of its goal.[^3]
- CTC's stance: build the foundation on **ROAS/value bidding**, and use bid caps etc. only for "bid surface expansion". Tony: "I struggle with like black and white things."[^4]
- Why it works: a CPA cap is a hard ceiling per conversion. A ROAS target lets cost per purchase rise for bigger baskets, so the system can find high-value buyers.[^5]
- **Set the target as low as the math allows.** The most aggressive bid wins the auction. CTC example: aMER target 2.0 and Meta 7-day-click incrementality 1.2 give an on-platform target of 1.8.[^6][^7]
- For small, low-volume accounts, Jon Loomer and Ben Heath say **don't use manual bidding**. Use maximise conversions.[^8][^9]

## Details
**CTC canon defaults** (Jul 2026):
- **Campaign:** Sales objective (~95% of cases), value-optimised with **min ROAS**, on ASC or CBO with **inflated budgets** plus cost control.
- **Ad set:** 7-day-click window, broad targeting, acquisition/retention exclusions, ROAS target set here.[^10]

**Budget liquidity.** A large budget with a ROAS floor lets Meta spend heavily in cheap, high-usage moments and pull back in expensive ones. Day-to-day spend variance is "a feature, not a bug".[^11] The tension: platforms want liquidity, while buyers want predictability. CTC likes **TikTok GMV Max budget scaling**: at target, auto-raise the budget by e.g. 10–20% up to several times a day, then reset the next day. They saw it spreading to TikTok web ads. Google says it is making tCPA and tROAS more predictable when budgets change on "limited by budget" campaigns.[^12][^13]

**Business DNA.** High-LTV and subscription brands can bid at breakeven or a loss on the first order, and they win more auctions.[^14] Tony cites the Zuckerberg line that whoever pays most to acquire a customer gets the customer.[^7]

## Disagreements / caveats
- **Portfolio vs your account.** Tony stresses individual accounts vary. The study shows which bet to make first, not a guarantee. Full reports weren't shown on air.[^1]
- **The 1.8 arithmetic.** CTC didn't explain how an incrementality of 1.2 turns aMER 2.0 into 1.8. Treat it as illustrative and derive your own factor from lift tests.
- **Manual bids at low volume.** Loomer says bid caps and cost goals "almost always" disappoint at low volume.[^8] Ben recommends maximise-conversions bidding at ~$100/month and value optimisation only at scale.[^9]
- **Bid strategy as a scaling lever.** Smart Marketer's "sprint" tests several manual bid strategies in parallel ([[meta-scaling-winners]]), while CTC duplicates evergreen campaigns into other bid types to reach new pockets ([[meta-underspend-and-never-turn-off-ads]]).

## See also
- [[meta-underspend-and-never-turn-off-ads]]
- [[meta-incremental-attribution-model]]
- People: [[people/tony-chopp]], [[people/richard-gaffin]], [[people/jon-loomer]]

[^1]: yt:DBvtLzi_j7o @ 06:43 — Tony Chopp
[^2]: yt:DBvtLzi_j7o @ 07:29 — Tony Chopp
[^3]: yt:DBvtLzi_j7o @ 12:21 — Tony Chopp
[^4]: yt:DBvtLzi_j7o @ 27:28 — Tony Chopp
[^5]: yt:DBvtLzi_j7o @ 11:31 — Tony Chopp
[^6]: yt:DBvtLzi_j7o @ 14:55 — Tony Chopp
[^7]: yt:DBvtLzi_j7o @ 15:43 — Tony Chopp
[^8]: yt:C0R5YJiWpig @ 03:23 — Jon Loomer
[^9]: yt:du6rDgRf06g @ 10:15 — Ben Heath
[^10]: yt:-BYAC0ALW78 @ 06:37 — Tony Chopp
[^11]: yt:-BYAC0ALW78 @ 07:28 — Tony Chopp
[^12]: yt:DBvtLzi_j7o @ 25:05 — Tony Chopp
[^13]: yt:DBvtLzi_j7o @ 23:19 — Tony Chopp
[^14]: yt:DBvtLzi_j7o @ 18:29 — Tony Chopp