Strategy Group Introduction
Updated
1. Smart Bidding
Smart Bidding is the set pros of manual bidding with none of the cons. It is an AI-based algorithm that is trained on your data to predict the best bid value for your ad sets. By automating the manual bid process with AI, Smart Bidding saves time and improves performance.
Benefits of Smart Bidding |
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2. Smart Budget Allocation
Sprinklr’s Smart Budget Allocation eliminates the guesswork and uncertainty that comes with manually allocating budgets. Powered by an AI-based algorithm, Smart Budget provides performance prediction, automatic budget distribution, and customizable optimization goal metrics. It alleviates the manual process of campaign management, saving time and maximizing performance.
Smart Budget is designed to minimize the campaign CPA (cost per action). The feature continuously reallocates the campaign budget between the Ad Sets so that the expected number of future conversions is maximized and the CPA level is minimized.
Increase Return on Ad Spend: Automatically redistribute Paid Initiative or Ad Set budgets to top-performing entities to drive increased Return on Ad Spend (ROAS).
Automate Budget Reallocation: Eliminate the manual, user-driven budget inputs, and replace them with AI-powered optimization decisions based on real-time performance. Smart Budget’s machine learning technology continuously improves performance over time.
Audit Trail: Unlike Facebook, Sprinklr Audit Trail allows you to trace the changes that are made daily so that you have an audit trail to allow your team to calculate the savings and understand which factors drove performance.
3. Smart Ad Rotation
- Ad Rotation based on Performance: Uses statistical inferences derived from the performance time series of the ads. It takes up a small group of ads in an ad set, activates them for some time, and assesses them with one another. As the performance accumulates for each ad, the algorithm, based on the historical data, determines advertisements that are not delivering at par and do not show enough promise of better performance in the future. Such ads are suspended, and other ads yet to be tested are given a chance.
This process continues until all ads are tested, and the ad set is left with only a collection of the best performing ads. Even having attained this equilibrium, the algorithm keeps in check the exhaustion of these ads. Over time, if any of these “best-performing” ads fatigue out, the algorithm swaps them out with an ad that was suspended earlier after testing but had a better overall performance.
- Ad Rotation based on Fixed Time Interval: You can manually set the time interval based on which you want to rotate your ads. Select the Frequency of Ad Rotation and the Number of Ads to be live simultaneously within each Ad Set. For every interval, the ads will keep rotating.
Frequency of Ad Rotation can be selected from the below options:
Everyday
Every 3 Days
Every 7 Days
4. Stop Loss
Stop Loss is one of the key optimizations that identify bad ads and stop them. It saves your funds and ensures the delivery of your ads to the right audience. Stop Loss evaluates and pauses ads that are exceeding your target CPA or not meeting your goal based on your configuration. There are 2 types of configurations for the same:
- Life time Stop Loss based on Target CPA: It allows you to pause your ads based on their Target CPA over a lifetime. If you enable it, your ads will be evaluated based on their entire historical performance. The Stop Loss on the CPA option can only be selected if you have a specified CPA goal for your Strategy Group. If the threshold value is breached the ad gets paused for the entire durartion of its lifetime.
- Rolling Stop Loss based on Target CPA: It allows you to pause your ads based on their Target CPA over a customised duration. If you enable it, your ads will be evaluated based on the selected timeframe. In this feature, the ad can be activated again once it serves the pause duration in the designated duration of time. This the prime difference between the two that the former pauses the ad entirely whereas the latter pauses the ad for the stipulated duration when Target CPA is crossed in either of the cases.
5. Ads Day Parting
Advertisements are often viewed more during certain days of the week and certain times of the day over others, depending on different industries and products. So rather than running ads all day and at all times, you can save money and time by targeting your users at times when the chances of conversions are maximum.
It is better to bid higher at times when your target viewers are maximum rather than spending money bidding at times when there are probably no target viewers. Sprinklr Dayparting allows you to schedule your ads for different days of the week and times of the day.