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At Nanigans, we’re constantly taking in feedback and brainstorming better ways to optimize our ad automation software. Our lead gen clients asked for a way to capitalize on price fluctuations and purchasing behavior of their customers throughout the day, and Hourly Bid Multiplier was the result.
All of Nanigans algorithms are trained to meet your KPIs. Depending on the bidding and budgeting option chosen, Nanigans will either spread out the dollars spent in your campaign throughout a given time period, or try to spend as much as possible within your given goals. This advanced feature allows you to increase or decrease bids within specific hours, or sets of hours, during a 24-hour period — without needing to make any manual adjustments to your overall goals. It’s a precursor to our Value Based Bidding model, currently in testing, which will take time of day into account automatically, as well as other features of your campaigns.
The Hourly Bid Multiplier is a useful tool that can help clients bid higher during specific hours of the day that they know (through analyses of their own data) to be more valuable. Here are a couple sample scenarios where a lead gen customer might find this feature helpful:
Users who are knowledgeable about how time of day affects their monetization or the value of the users driven to their sites can use this knowledge to enhance what the Nanigans algorithms are currently trained to understand. If used properly, the Hourly Bid Multiplier enables higher bids during the most lucrative hours of the day, and is customizable for each initiative an advertiser is running. We have seen this technique work for scaling up campaigns and keeping Cost Per Action (CPA) more even throughout the day.
If you’d like to use the Hourly Bid Multiplier, your dedicated Nanigans account team can assist you in implementing and monitoring performance.