What is Budget Optimization?
Budget Optimizer (BO) is CIQ's proprietary Machine Learning (ML) based feature that lets advertisers define budget plans across different months/quarters/years for different product lines and categories and and make bid and budget changes to pace appropriately according to the defined plan in an efficient manner.
This helps marketers align themselves to the budget plan avoiding overspending or underspending and make adjustments if required. By distributing more budget to the highest-performing campaigns, advertisers can maximize the value of their spend.
Budget Optimizer (BO) allows users to track and pace according to a defined budget plan in the most efficient manner (in terms of RoAS and iRoAS).
Value of Budget Optimization?
BO enables advertisers to optimally pace out their monthly/quarterly/yearly advertising budgets across portfolios and profiles, and generate bid change actions to hit budget goals while driving incrementality and improvement in ROAS. This eventually saves time by eliminating the need to manually shift budgets between ad sets.
Need for Budget Optimization
Users do not trust the intuition based manual recommendations
Unintuitive budget changes (recommendations to increase budgets if overspending)
Drastic decrease/ increase in budgets even if the plan hasn’t changed
Difficult to comprehend the reason for the direction and scale of change
Users want to pace up their budget within a quarter but are forced to optimize it within a month.
Users want to define a budget plan for a portfolio and want an option to optimize the same within it. However optimization is permitted within profile if the variance remains +/-5% for more than 7 days.
Users do not leverage bid changes proactively to pace up their budget.
Getting Started
CIQ's Budget Optimizer tool can be accessed located in the Advertising section.
Navigation Layout
Navigate to My Workspace > Advertising > Budget Optimizer
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