Use the bid strategy report
The bid strategy report shows how your campaign is performing compared to your set performance goals. You can also view your bid strategy’s status, performance trends over time, and insights like conversion delay reporting. Recommendations can also help with ideas on how you can improve performance across your campaigns.
Understand top signals being used by Smart Bidding
Within the bid strategy report, you can see the top signals being used by Smart Bidding. This shows some of the factors Smart Bidding is using in real-time in order to hit your goals. Top signals can include:
- Audience List
- Day of Week
- Time of Day
If you know how Smart Bidding is working, you can use those business insights elsewhere.
Optimize your targets
As your business goals evolve, a great next step is to adjust your targets to meet your changing marketing objectives. Keep in mind:
- Frequent or large target changes won’t negatively impact the performance of your bid strategy. You don’t need to worry about a strategy resetting what it’s already learned about your account after changing your target. Smart Bidding is always learning from new data in the auction or your account, and can perform well with rapid target changes.
- Smart Bidding reacts to target changes quickly. Smart Bidding will start optimizing to your new goal within minutes.
- After a target change, it can take 1-2 conversion cycles to achieve the new target. Because of the delay in conversions, it’s recommended to wait 1-2 cycles before assessing performance and avoid making additional target changes aimed to overcorrect the reported ROI during that period. For most advertisers, these conversion cycles are typically short.
TipYou can use target and budget simulators to help you understand incremental conversion or conversion value opportunities. They will show the number of conversions your ads might have received if you had set different budgets, CPA targets, or ROAS targets.
Understand conversion delays
Consider conversion delay while assessing performance. For example, if it typically takes 7 days for users to convert after viewing an ad, do not include the most recent week of data when evaluating performance. This is because your conversion and conversion value data will still be missing conversions from those 7 days.
Smart Bidding can be a simple and powerful solution to the often complex challenge of finding the right bid for each individual auction. It may be a useful addition to your own account as well.
To get started, decide which strategy is right for your business and then test it out. If it’s working right, you’ll see better results while saving hours and days of management time in the long run.
The final goal, of course, is driving the clicks, conversions, revenue and profit you want at the price that makes the most sense for your business.