The option that we actively use ourselves and with which you will increase your profit is Micro Bidding. Let’s take a closer look at the functionality itself and examples of its use.
What is Micro Bidding and why is it needed?
The prefix “micro-” in this case means setting up the whole through many elements. The majority is used to perfecting the bundle: source – GEO – creative – pre-landing page – landing page. But now imagine that on the source level there is one more bundle: country – browser – operator – platform – time of the day.
Each of such bundles will have different conversion on the subsequent classical bundle, and therefore the bid should be controlled accordingly.
The list of parameters for setting coefficients while setting up Micro Bidding:
- by operator,
- by country,
- by browser,
- by platform,
- by time of the day.
Let’s have a look at the simplest example. Every moneymaker has already stated that whitehat offers give lower conversion in the evening. But a small number of leads does not mean a complete absence of them. So, you just need to get them at a lower price and due to this get a plus. And even without cutting your volumes.
Micro Bidding allows you to not only set increasing and decreasing coefficients for different devices, but also to adjust several parameters at once depending on the effectiveness of key indicators. It is important to remember that all parameters are interconnected and you should not get carried away, since you can either lower too much or unreasonably increase the bids.
How to work with a new tool?
Remember: you can always build segments according to several variables and work with those exact settings that will ultimately yield the biggest profit.
Now let’s have a look at the formula by which the algorithm calculates the final value for the bid:
Inserting the values and calculating the product of numbers, you get the final cost per click which takes into account all the multipliers, including the selective price for the source, if you have set it up.
Let’s look at an example
Let’s say you saw in the tracker exactly which variables affect the conversions. Browser, telecom operator and ad display time.
So you build a hypothesis that in the evening, from 7 p.m. to midnight, instead of stopping the traffic, you buy it cheaper. But for those who use mobile platforms and use the Firefox browser, the bid can be increased, since this is the traffic that gives good conversion at the specified time.
In this case, you need to set the coefficients as in the screenshot below
Screenshot from a personal account
If the click price at the moment of creating a campaign is 3 rubles, you can calculate your bid using the formula: 3 х 0,6 х 1,2 х 1,2, where:
3 – the specified price when creating a campaign,
0,6 – time coefficient,
1,2 – platform coefficient,
1,2 – browser coefficient,
The auction price then is 2592 rubles.
IMPORTANT! The final bid is also influenced by the Selective Price of the source. If you have set it up, then it participates in the formation of the bid value in the auction.
Recommendations from the AdProfex team for a successful work with Micro Bidding
- Take into account the influence of the specified coefficients on each other.
- In case you work with statistics not so long, use no more than 2 parameters at a time and increase their number gradually.
- Do not forget about selective prices, they also participate in auctions and are a multiplier that influences the final value for a particular site.
- Any micro bidding will work correctly if the average total values for all parameters are reduced to one. That is, if you somewhere set a coefficient 1,2, when selecting another parameter lower it to 0,8.
- The new functionality does not affect the coverage forecast.
- Micro Bidding and selectives can be set either before launching traffic or after. However getting a guaranteed result is possible only after analyzing the obtained data.
Test the update and be sure to share your success with us. If you still have any questions, support will definitely answer them.