Bidding Strategy

When setting your advertising campaign, it is essential to set a budget for how much you are willing to spend. Moreover, you need to consider how this budget and spending pattern will impact your campaign and its success.

This article aims to help you set your budget and pace that best suits the nature of your campaign and help you generate the outcome you target.

To set your Bidding Strategy, the fourth step of the creating campaign process, you need to decide the amount of money you are willing to bid and the parameters you would like to bid on. You can choose between two options, Clicks and Impressions.

1. Your CPC bid is the amount of money you are willing to pay for each click one of your campaign ads receives recommended when using Recommendations.
2. Your CPM bid is the amount of money you are willing to spend for each one thousand impressions of your ad campaigns recommended when choosing Inline Ads.
3. Your CPV is the amount of money you are willing to pay every time a user views 5 secs of your videos recommended when using Video Ads.
4. Your OCPA (optimized cost per action) is when the Speakol algorithms bid on your behalf, limited by your defined budget. The dynamic bids enable you to capture the highest-value conversions and promise a higher ROI than that expected of traditional campaigns. OCPA works best when you choose conversions or lead form campaigns. 

You want to set a CPC or CPM that allows you to meet your performance goals. If the rate is too modest, you will not be able to obtain the number of clicks or impressions required; at the same time, if the rate is too high and you fail to secure the number of clicks and impressions needed, the transaction will fail to meet its purpose.

If you choose OCPA, you may be asked to provide CPC, which is needed as an alternative option that can be used until proper leads can be secured.

If you have chosen some websites or applications with a higher rate than those you chose, you will be asked to edit and confirm the list. You can either remove the websites with a higher bidding rate or adjust the value of your bid to meet your highest website.

If you would like to edit your list, press Edit and Confirm. All the websites and applications you have chosen will be listed with their bidding rate indicated. You can then select or deselect the platforms you would like to target.

Set Your Budget:

If you have created campaigns or ad sets with an end date, you can set a budget, which is the maximum amount of money you would like to spend during the campaign's duration. This amount needs to be equal to or less than your available balance. 

Set Your Daily Budget:
If you have created campaigns or ad sets with no end date, then you can set a daily cap, which is the maximum amount of money you would like to spend per day. This amount needs to be equal to or less than your available balance.  

To learn more about Speakol's new Consumption Logic, click here. 

If you have any difficulties setting these campaign details, kindly email us at info@speakol.com. We will contact you within 1-2 business days to follow up and assist you.