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Cranking up a new campaign can be tempting. Once you’re given a fresh batch of creative and a promising audience to test it out on, it’s time to step on the gas, right? Blowing through daily budget too quickly is something that happens to a lot of advertisers; luckily, pacing can be evened out if you follow a few simple steps.
Last week we discussed limiting the number of Active Ads within your campaign to those with high performance using automated creative testing; this week, we’re moving on to the next letter of the alphabet.
Online marketing is made up of a series of auctions where you’re bidding against other advertisers for the right to show your ad to a group of users. In a general sense, the highest bid will win every auction, but that doesn’t mean your ads have to be throwing their weight around all the time. In most marketplaces, the second-place and third-place bids will still garner you some decent traffic. And particularly during the early phase of a digital campaign, when our software’s optimization algorithms don’t have a vast amount of knowledge (i.e. Layered Data) about your audiences, it makes sense to be a little more conservative in how you approach those auctions.
Nanigans “Goals & Rules” interface allows you to limit our Automated Bidding algorithms, putting a ceiling and floor on where your bids will end up. Putting in a Maximum Bid will ensure that your ads never end up bidding above the amount that you specify, and the same in the opposite way for your Minimum Bid. Since your bid itself will always be based on Value, you could always choose to be a little more conservative with your target Cost Per Action and/or Minimum Yield goals, making sure our software doesn’t get too aggressive during the early stages of your campaign.
Most online auctions treat every ad as its own entity within that auction, and thus, each ad has its own bid. In the same way, each one of those ads also need to have their own “budget” so the marketplace knows how much each individual ad could realistically spend. In the “Budgeting” section of Nanigans “Goals & Rules” interface you’ll find our Optimized Budgeting settings, where you can make sure that only the ads and audiences in which we have a sufficient level of data confidence are allowed to spend more. So, if you find that your ads are spending too quickly, you can make adjustments to the speed with which our software gains that data confidence, which will limit the individual ad budgets, and in turn, keep your ad spend from rocketing past the half- and quarter-poles too quickly.
For more on making sure your campaigns don’t blow through their daily budget entirely too early, check back next week for C and D!