Automated bidding in Display & Video 360 aids advertisers enhance performance by fine-tuning bids in real time to achieve which they always wanted to have. With the help of the advanced machine learning of Google, it estimates and customizes your bids for every auction to help predict the likelihood of a conversion.
Automated bidding in Display & Video 360 helps advertisers to respond to what consumers are seeking in the moment by using the state of the art machine learning and predict the performance of the campaign and place your bids accordingly.
As the behaviour of the customer changes, the automated bidding adapts and customizes your bids in real time for every auction giving you more affability than a fixed bidding approach. Automated bidding is made more powerful by presenting powerful by introducing Custom bidding, a new way to integrate unique insights about what drives your business into your bidding strategies.
First the key performance indicators like revenue or brand lift that needs to be optimized are identified. Then the proxy signals are defined that help project success with your KPI. Transaction value for proxy for revenue or creative dimension as proxy for brand lift is selected and a signal that is measurable as Floodlight activity or a goal in Google Analytics 360 can be selected.
Finally you build a script that uses these signals to allot the scores to advert ideas for defining how much each idea is worth based on its expected ability to rope in the chosen KPI. Once the campaign starts, Display & Video 360 will use scoring model built on your script to predict the value of each impression and adjust each bid accordingly.
Custom bidding will be available to all Display & Video 360 accounts in the next few weeks. Google also did updates to automated bidding via its Display & Video 360 buy-side solution. There is no need to write the code by selecting Floodlight activities and allotting values to them and users can choose the set custom bidding multipliers.
One can assign higher value to high value purchases so that your adverts are tuned to specifically enhance the revenue instead of driving more transactions. The major search engine has also introduced pay per viewable impressions as measured by active view for display and video campaigns, which had been limited strategy-wise to cost per acquisition or maximize conversions.
This allows you to enhance for maximize active view. So that you will minimize the budget waste and achieve better performance by only paying for impressions that are viewable instead of each impression.
Google also rolled out a new bidding insights report to enable users to monitor what the average cost per thousand impressions bid is based on the likelihood of an impression to lead to a conversion or click.
Bidding insights will provide data on how many impressions were won on the basis of likelihood to achieve the selected outcome. The new bidding features allows the user to quickly adapt to consumer behaviour by giving them more flexibility and customization for their bidding strategies across brands and performance campaigns.
