How to Configure Smart Bidding Strategy Groups

Updated 

2 months ago

Increase your ROI and reduce bidding efforts on your ad campaigns with the help of Smart Bidding.

The success of your campaign relies on keeping it profitable and getting a higher outcome for your investment by keeping costs low and results high. To reduce bidding efforts for your campaigns, you can use the Sprinklr Smart Bidding within your Strategy Groups.

Smart Bidding uses an AI-based algorithm that is trained on your data to predict the best bid value for your Ad Sets. This will simultaneously save your time and improve the performance of your ads.

Configure Strategy Group Smart Bidding

1. In the New Strategy Group pane to the right, provide the Basic Details for your Strategy Group. For more information, see Strategy Group — Field Description.

2. Check the box alongside Smart Bidding and click the Smart Bidding option from the left pane to configure it manually.

3. On the Smart Bidding window, choose how you wish to use Smart Bidding and fill in the required details. Based on your requirements, you can configure:

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4. On the Smart Bidding window, slide the Toggle icon to Enable Sprinklr Bid Optimization. This will dynamically optimize the Bid as long as the CPA goals are being met. You can also change Target CPA by clicking Change. It will redirect you to the Strategy Group window.

Note:

  • Smart Bidding is not recommended for Audiences having a potential reach below 100K as Smart Bidding may not be able to make an impact due to such a small audience size. If Smart Bidding is applied on such Ad Sets, then Smart Bidding will update the bid settings to Auto Bidding for Facebook, Twitter, Linkedin, and Snapchat.

  • Smart Bidding is not recommended for Paid Initiatives with Daily Budgets less than 100 (respective currency) as with lower budgets, campaign would struggle to obtain results due to low spends which would affect the decision making capacity of the model due to poor data set.

  • Smart Bidding can be configured at the Ad Set or Paid Initiative Level depending upon the use case of the user.

  • For Paid Initiative with CBO enabled, please ensure optimization goals are same for all the adset when Smart Bidding is applied.

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5. Enter the minimum and maximum Bid Limit for each Ad Set in the Minimum Bid Limit and Maximum Bid Limit fields.

Bid Changes & Facebook Learning Phase

  • ​Learning phase will only be triggered at the point of switch from auto-bid to manual bid. This can be avoided by starting with manual bids.

  • For upper-funnel campaigns, the learning phase should not be a concern since 50 actions are reached very quickly.

  • The magnitude of bid changes keeps in mind what Facebook allows without triggering the learning phase (in extreme scenarios, bid change can still end up triggering the learning phase. But in practice, that happens infrequently). This can also be controlled by applying maximum and minimum bid amounts.

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6. Under the Day and Hour Multiplier section, you can increase/decrease the Bid values for any specific duration across the week by selecting Add a Day & Hour Multiplier. For more information, see Smart Bidding: Day and Hour Bid Multiplier.

Note:

For Facebook, you can also configure Facebook Bid Multipliers. For more information, see Facebook Bid Multiplier.

7. Once done, follow the outlined steps to complete the process. For more information, see Create a Strategy Group.

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