Step 4: Bid
Once you've selected your products, you'll move to setting the parameters in relation to your chosen Bid Strategy (Adaptive or Standard).
Setting your Line Item’s Bid (CPC)
This is the baseline amount you are willing to pay for one click of your ad, and that will enter the auction. It does not include your account fees.
Depending on the optimization strategy selected (Adaptive or Standard), your CPC bid may be sensibly adjusted to drive more performance.
To set the bid:
Simply enter the amount in the input field in the Bidding box.
Commerce Max operates on a first-price auction, where all bids act independently of one another and the highest bid ultimately wins. In addition to the bid, relevancy, and prediction, decide which SKU wins the auction. Your CPC bid controls the volume that your ads will deliver.
As a reminder, there are 3 different base models that allow you to optimize your bid based on the likelihood your ad will generate a desired shopper action in line with your campaign objectives:
Clicks Optimizer: This focuses on maximizing the click-through rate (CTR). The engine will adjust the delivery of your ads based on their likelihood to trigger a click.
Conversions Optimizer: This focuses on maximizing conversions. It automatically adjusts your bids based on how likely a click is to result in a conversion - such as a purchase. By focusing on conversion potential rather than just clicks, you can lower your overall cost-per-order and improve ad performance.
Revenue Optimizer: This focuses on maximizing ROAS. The Criteo Retail Media engine will adjust your bid based on your ad’s predicted attributed sales amount and the likelihood it will lead to a conversion.
For a detailed overview of each optimization strategy and to understand how the Suggested Bids tool delivers effective recommendations, please refer to the sections below.