Highest volume bidding
Highest volume (formerly "lowest cost") is Meta’s default bid strategy: it spends the full budget to get as many results as possible with no cost constraint, giving the delivery system maximum freedom to find conversions.
For most accounts highest volume is the correct default, because Meta’s delivery system learns from conversion volume and this strategy maximizes it. The cost per result it produces is the market clearing price for your creative and targeting — if that price is too high, the fix is upstream in creative, offer, and signal, not in a bid ceiling.
You still control economics under highest volume — through budget size, creative quality, and the offer — you just do not impose a per-auction or per-result cost limit. Reaching for a cost cap or bid cap instead of fixing the upstream driver is the most common Meta bidding mistake.
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