Ever wondered whether your bids are efficient to achieve high performance? We are glad to present a solution suggesting the right bids to maximize the number of your target events and revenue flow.
Bid suggestions by SearchAdsHQ is a bid strategy designed to improve your ad results based on set campaign goals and our machine learning algorithm. There’s no need to update bids for keywords manually any more because they can be set automatically now.
The algorithm suggests an optimal bid for each keyword to help you reach your KPI.
To do this, we analyze keywords' performance, bid changes, impressions, taps, downloads, revenue, etc. which must be statistically significant.
Available optimization targets:
- CPA (Cost per Action, e.g. Trial, Subscription, Purchase, Engagement, etc.)
- CPI (Cost per Install)
- Cohorted ROAS (e.g. ROAS D1, ROAS D3, ROAS D7, ROAS D14, ROAS D30)
How can I enable Bid Suggestions?
Your target metric and its target value can be set in the Campaign's settings.
'Target metric' is an obligatory field. If you don't want to set up Bid Suggestions, you can select 'None'.
NB! If you change your existing targets, updated Bid Suggestions will appear within the next 5 hours.
When is it best used?
Here are some best practices when our Bid Suggestions are most effective:
- You should use Bid Suggestions in performance campaigns for exact match keywords to refine their performance. No sense to use them in Discovery campaigns for broad match keywords where the main goal - finding new keywords.
- Using Bid Suggestions in brand campaigns may be irrelevant. Brand keywords are used to defend your brand, and to set the right bid you are most likely to analyze their impressions share rather than performance.
Keywords within the ad group are considered independently from each other, and recommendations are updated every 24 hours. If you've just set up Bid Suggestions, the first recommendations will be made within 5 hours after they are set, and all subsequent recommendations will be updated every 24 hours.
When generating bid suggestions, the algorithm looks back on the keyword performance during the last 61 days given past bid changes and how they impacted performance.
Also, the suggestions include the adjustment to common discrepancies (LAT-On and Re-downloads share) and Apple's Suggested Bid Range to make sure our recommendations are competitive, ensure good performance as well as good volume.
How to apply Bid Suggestions to your CPT bids?
Applying the suggestions can be done via automated rules.
- Go to Automation
- Create a rule for keywords
- Change keyword bid
- Set to Suggestion => Suggested Bid
Tips to remember:
- You can use a coefficient ahead of 'Suggested Bid' to vary the value of the Suggested bid. It is % of the Suggested bid: 0,8 = 80%.
- Use 'Lower' & 'Upper' bid limits to make sure the bid won't go too high/low.
- The automated rule won’t change the current CPT bid if there’s no suggestion (e.g. 'Suggested Bid' value is blank).