Create ad schedules and set bid adjustments based on performance
The Hour of the Week Bid Adjustment is a tool that recommends time-based bid adjustments based on the performance of KPIs.
Unlike AdWords where you have to create time slots first, and then set bid adjustments one by one, this optimization recommends and lets you set bid adjustments with a single click. You can also create custom time slots to analyze performance and create ad schedules.
The tool groups campaigns into Ad Schedule Groups. Each group has campaigns that have the same day parting settings which means that they have the same ad schedules and bid adjustments.
If campaigns in a group don't have any ad schedule settings, we will group them into 4-hour slots by default. These can easily be changed. Ad schedule groups let you view aggregated data and set bid adjustments for similar campaigns together.
From the tree view on the left, select the campaigns you want to set bid adjustments for. We recommend selecting one ad schedule group at a time, a set of campaigns within that or individual campaigns.
Why should you select one ad schedule group?
This is to ensure that you're analyzing similar campaigns together. It will also make sure that you see the current bid adjustments and ad schedules for the campaigns. If more than one ad schedule group is selected, the tool won't be able to show you the current bid adjustments and schedules.
You can also select the date range for which you want the system to analyze data. A longer date range will have a clearer trend. By default the system selects last 4 weeks.
When you select an Ad Schedule Group from the left and press Update, the system will automatically show you some bid recommendations on the right. The goal can be changed from the 'Choose Goal' option on the right. It is important to select the right goal for the campaigns because this is what the system will use to make bid recommendations.
Types of goals:
Maximize impression share to get the most traffic.
Increase conversions while trying to keep the cost/conversion reasonable, though it may result in increased cost/conversion.
Reduce Cost per Conversion
Try to reduce the cost/conversion while maintaining or increasing conversions. This may sometimes result in fewer conversions.
Increase Conversion Value
Maximize conversion value to drive more revenue.
Increase Conversion Value per Cost (ROAS)
Try to increase conversion value and reduce cost to improve ROAS.
The aggressiveness setting allows you to provide a range within which the bid adjustments will be recommended. By default this is set to low.
For example, if your goal is to increase conversions and you want to be more aggressive, and try to get as many conversions as possible (even it if means bidding 50% higher) set the aggressiveness level to 'High'.
After selecting the scope and goal, you can review the recommended bid adjustments. These can also be dragged and dropped to be changed. The Expected Change numbers on the top left show the expected impact if the bid adjustment changes are applied.
Based on the goal selected, our algorithm identifies time slots that can help achieve it by either getting a higher or lower bid adjustment. A time slot should have enough data to be eligible.
In the chart below you will see the metric you are optimizing for (upwards) vs cost (downwards).
For example, if the time slot 4:00 - 6:00 am doesn't have enough data, we'll look at the performance of time slots adjacent to this (2:00 - 4:00 am and 6:00 - 8:00 am) to make a recommendation.
It is possible to change ad schedules for multiple campaigns together by just dragging the blue bars on the chart. To stop showing ads during a given time, drag the blue bar all the way to the end of the time slot to make it grey. The grey bars are time slots during which the selected campaigns won't show ads.
If you have pre-defined ad schedules for the selected campaigns, they will automatically show up here. However, if campaigns with different ad schedules are selected those ad schedules will not show up because this data cannot be aggregated.
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