Isn’t it amazing that we can say we have an award-winning team member at Mabo? Well, we do, on 25th August, Senior PPC Account Manager Tom Atkinson won the “Best use of Automation” award at the 2020 UK Biddable Media Awards!! So it only seemed fitting, that Tom lead the team in a training session of smart bidding this morning.
When I was looking at quote’s this morning, “If everyone is moving forward together, then success takes care of itself.” – Henry Ford seemed most suited. By having a Senior Account Manager deliver training to the rest of the team, it really does help us move forward together. Tom is aware of not only how executives feel when they first start, but also how account managers wanting to progress will feel, therefore the training session is tailored to all levels.
Last weeks training session, included Account Manager, Dion Williams, taking the team through Mabo’s ‘Enhanced Feeds.’ So sit back and enjoy learning about Smart Bidding.
What is smart bidding?
Smart Bidding is a subset of automated bid strategies that use machine learning to optimise for conversions or conversion value in each and every auction – a feature known as “auction-time bidding”. Machine Learning helps drive the best performance for your ads through automation, the Smart Bidding algorithm is constantly learning based on real-time feedback, and adjusting to improve performance. Google Smart Bidding is aimed at setting real-time bidding, for each and every auction.
What do you need to start smart bidding?
Before applying smart bidding to your account, conversion tracking must be set up accurately alongside knowing the conversion goals which you want to track. When in the ‘learning period’ campaigns must not be touched until they gather the required data.
Why use smart bidding?
The real question here, is why not? Smart Bidding is the future. Check out the four key benefits below to help you not only save time but also improve performance:
- Advanced machine learning.
In bidding, machine learning algorithms train on data at a vast scale to help you to make more accurate predictions across your account about how different bid amounts might affect conversions or conversion value.
- Wide range of contextual signals.
With auction-time bidding, you can factor a wide range of signals into your bid optimisations. Including attributes like device and location, which are available as manual bid adjustments, plus additional signals and signal combinations exclusive to Smart Bidding.
- Flexible performance controls.
Smart Bidding allows you to set performance targets and customise settings to your unique business goals. Allowing you to optimise search bids to your selected attribution model or set device-specific performance.
- Transparent performance reporting
Smart Bidding offers reporting tools that give you deeper insight into your bidding performance and help you quickly troubleshoot any issues.
Types of smart bidding:
There is a large range of smart bidding methods to choose from depending on your goal, network and requirements. Including, Target CPA, Maximise Conversions, Target ROAS, Maximise Conversion Value and Target Impression Share. Our team are fully equipped into helping you decide on which type is best for you.
We caught up with Tom to see how leading this morning’s training session went for him.
“I enjoyed doing it, something different and changes up your day, I am passionate about smart bidding and all the different techniques and areas you can test with it. I like the interaction and ideas part of training and smart bidding in general, as it’s a very subjective topic & I would like the opportunity to do more training in the future. Benefits everyone to round off people’s knowledge but also to refresh on certain areas.”
Again, a massive thank you & well done to Tom for this mornings training session. Is smart bidding something you think would benefit your account but unsure where to start? Contact our team NOW, who would be more than happy to help.