Below is a walk through for building a Strategy. For starters, the default account strategy can be setup in the Settings tab:
This is the baseline structure which you would set for an Account. Once established, Strategies for bid automation will need to be defined and applied.
Let's walk through the process:
Designing more comprehensive Strategies to better support the various goals within an account can be created by navigating to the Manage Campaigns Tab and then to Strategies.
To create custom Strategies, select Add Ad Strategy, choose to Quick Create or follow the Walkthrough.
For each strategy, input a Strategy Name, and add the following parameters: Max ACOS, Initial Conversion Rate (optional), Initial Average Order Value (optional), Max Bid (optional), Min Bid (optional), and Min Clicks (optional).
These parameters help determine the initial behavior of the automation (when little to no historical data exists) and also helps determine how the bids develop over time to hit your goals.
Once the Strategy is created, you will assign the Strategy to your designated Campaigns. There are a few ways to assign strategies to the relevant Campaigns:
1. Simply navigate to the Campaigns tab and set the Strategy one-by-one in the table
2. Through the Actions dropdown. Filter for the Campaigns and select the checkbox next to a set of Campaigns. The Action dropdown will appear to Set Advertising Strategy
3. Or leverage the Bulk Upload option found atop the table. Simply download the Excel File, update the strategies within, and reupload.
Once the strategies are assigned, the Strategy will be applied to the Campaign, Ad Group, and respective Targets and the strategy will be showcased, as shown below:
To better understand how the Kapoq Bids are calculated in Kapoq, based on your Strategy settings, simply hover over the Kapoq Suggested Bid amount in the Targets Tab to view the logic.
Adjustment Factors such as Placement Settings and Dynamic Bidding get accounted for in the Adjustment Factor field (also broken out as a column in the overarching Targets table).
In addition, while the automation follows the strategies, the calculation is not fixed. The system will begin to leverage historical data to favor true actualized performance, leaning less heavily on your initial inputs when suggesting changes. This weighting system will continuously updated as new data becomes available.
For example, if your CR is set at the strategy to 7% but the true CR for a Target with a lot of data is performing at 14%, the system will favor the realized historical data (14% CR) and present a relevant bid best suited to your Targets history. The system and automation will display these weightings and historical data at the target level overriding your initial inputs.
The Forecast Orders Value and Forecast Conv Rate columns within the table allow you to view the weighting of the historical data for these parameters and also provide insights that correspond to the Suggested Bid.
If interested in learning more about the initial inputs, please take a look at Bid Automation - Impact of the Initial Conversion Rate and Initial Average Order Value Parameters.
For more insight or support, please reach out to our team.