New feature on Kenshoo Social enables audience-level bidding at scale to save you time and improve your results
There’s no question that Facebook is ubiquitous in the world of social media marketing. In fact, 94% of marketers worldwide use the channel to promote their businesses. It’s a feature-rich platform that offers unparalleled targeting capabilities and opportunities for driving consumer engagement. And while marketers are clearly sold on its necessity as an advertising channel, many are still trying to figure out the best optimization strategies for their Facebook campaigns.
This is where our newly released Audience Bid Multipliers feature can help.
One of the best ways to fine-tune results is through efficient bid management. If you’re a savvy marketer, you’ve looked closely at your data to understand exactly which slices of your audience pie deliver the most value.
For example, you may know that women generate a 50% higher lifetime value (LTV) than men. Your data may also reveal that your most valuable buyers tend to skew slightly younger, in the 18-34 range, and that they primarily transact on their mobile devices via the iOS operating system. Suffice to say, given this knowledge, a click from a mobile prospect is likely worth more to your business than one from a desktop user, and you’re probably also willing to pay more for someone in the sweet spot of your age range, carrying just the right type of device.
What can you control with Audience Bid Multipliers?
To get to this level of granularity within Facebook Ads Manager, you’d have to create and manage a unique Ad Set for each target audience segment. Do this for all of your campaigns, across multiple combinations to target audience segments, and you’ll quickly find yourself knee deep in Ad Sets, a fairly unwieldy and time-consuming situation. Kenshoo Social’s Audience Bid Multipliers can help you execute a nuanced audience bidding strategy—all within a single Ad Set.
With Audience Bid Multipliers, you can easily control bidding across many segment types, including:
- Operating system (e.g. iOS, Android, Windows)
- Platform (e.g. Facebook, Instagram, Messenger, Audience Network)
- Device (e.g. Desktop, Mobile)
- Device Type (e.g. Apple iPhone, Apple iPad)
- Combinations (e.g. iOS & Facebook)
Below you’ll see the Ad Set structure you’d need to create if you wanted to specify bids across various segments:
And here’s what it looks like using our Audience Bid Multiplier feature—much simpler!
“Previously, advertisers had to choose between saving time by managing fewer Ad Sets or gaining greater control over their bidding strategy with more Ad Sets,” said Jonathan Liraz, Product Manager for Kenshoo Social. “We’ve seen this come up time and again as a pain point and that’s why we’re so excited about the release of Audience Bid Multipliers. It’s the kind of feature that will have a powerfully positive impact on account structure and campaign management efficiency, providing that rare combination of a streamlined account with greater control.”
How to put Audience Bid Multipliers into action (an example)
- Create an Ad Set targeting a broad audience
- Determine a bid cap for that Ad Set. Let’s say $10.
- If men generate half the LTV that women do, then you could set an Audience Bid Multiplier of “0.5” for men. Kenshoo will automatically apply a $5 bid for male users.
- If Android users are 80% as valuable to you as iOS users, you can set an Audience Bid Multiplier of “0.8” for Android. Kenshoo will automatically apply an $8 bid for Android users.
Ready to get started with this time saving and performance-driving feature? Reach out to your Kenshoo Social representative today. And, if you’re not already using Kenshoo Social, we’d love to give you a demo of our industry-leading platform.