“Kenshoo’s approach to bid management is unrivaled in the industry,” commented Azam Zaka, CEO for eProspects. “Kenshoo gives us the flexibility to choose rules-based bidding, portfolio bidding as well as custom or hybrid options. For our financial services clients, the model-based portfolio policies turned out to be exactly what we need to deliver a greater return on investment.”
Kenshoo’s portfolio-based bid policies leverage proprietary algorithms that compute predictive models based on historical data and current market conditions. Kenshoo’s optimisation engine computes a new set of bids based on marginal ROI analysis across a portfolio of keywords to achieve a pre-defined target. In the case of eProspects’ financial services customers, the goal was online conversions and the lift delivered by Kenshoo reached four times previous levels.
Kenshoo’s portfolio-based bid policies feature the highest levels of transparency through performance forecasting and a preview mode that delivers full visibility into the algorithm’s bid decisions. eProspects is able to set targets, algorithmic constraints, and run forecasts and sensitivity analyses based on marginal ROI. In cases where a specific keyword does not have statistically significant data, Kenshoo can group keywords into clusters and optimise them based on similarity to other keywords that have achieved the needed levels of data. A final differentiator of Kenshoo’s potfolio-based bid policies is the ability to import seasonality data or custom promotional calendars and automatically adjust the model.
“It was important to us that we maintained complete transparency throughout the venture,” continued Zaka. “We wanted the technology to perform the in-depth analysis that our team was already performing manually, but at a faster rate in order to free more of their time. This is something that was provided through the nature of Kenshoo technology solutions and the model-based bid policies. We are thrilled with the results from Kenshoo and are rolling out portfolio-based bid policies across our entire client base.”