Automated bidding is a bid strategy designed to maximize results based on your set campaign goals. With automated bidding, algorithm automatically sets bid amounts based on the likelihood that your ad will result in a click or conversion.
What Is Meta Advantage?
Automated bidding is exactly what the name suggests – it is an automated process that lets the computer place a bid in real time in the digital ad space. The computer uses past data from earlier campaigns to make a prediction on the value of the bid that will generate optimised results i.e a bidding strategy that will get maximum visibility for your campaign within minimum budgets.
The computer is programmed to adjust the bids in real time to get you maximum returns on your ad investments. It analyses past data to predict future behaviour and makes changes to the bids to accommodate the changing patterns to help your campaign reach its goal quicker.
Does this make automated bidding the same as smart bidding? Definitely not.
Automated bidding is a term that encompasses all kinds of bidding strategies that use automation to achieve campaign goals.
Smart bidding uses only machine learning to optimise a current bid for better performance.
Meta Advantage products aim to provide advertisers with Optimization, Personalization, Efficiency.
ADVANTAGES OF AUTOMATED BIDDING
- Brand Awareness:
Every marketing strategy begins with building brand awareness. It is necessary to familiarize your audience with your brand, inform them about the brand and communicate the brand promise. Automated bidding gets your brand maximum visibility. It multiplies the reach of your advertising campaign to put the brand in front of as many viewers as possibly. Automated bidding is a great way to get more exposure for your brand while controlling the spend by setting caps
- Increase traffic:
Automated bidding uses historical data to make bids in real-time. It makes intelligent predictions based on analytical information to place your ad in front of the right people at the right. The more the number of right-kind-of-people viewing the right kind of ad; the higher are the chances of these viewers converting into visitors to your website.
- Optimize conversion rates:
The ultimate goal of any campaign is conversions. The act of conversion could be signing-up, downloading or buying. Automated bidding gives you an overview of ads that are likely to convert and ads that will burn a hole in your ad spends in the process of conversion. As an advertiser you can take control of the spends by investing in ads that drive traffic to your website and by minimizing the spend on low-performing ad.
It is important to remember that while automated bidding could be a gamechanger to reach campaign goals faster; it works best as a supplement or support to other marketing methods. The key to a winning bid strategy is experimentation. Monitor your ad performances and make tactical decisions that help you scale your goals.