Welcome to our Introduction to Maximize Conversions! In this article, we will take a look at what Maximize Conversions bidding is, how it works and who is a good fit for it on NewsBreak. For a more in depth comparison to Target CPA, please review our accompanying FAQ article here.
What is Maximize Conversions?
Powered by Machine Learning and AI, Maximize Conversions is a new bidding strategy designed to predictably spend your daily budget while also delivering as many conversions as possible. This may be considered as an alternative to CPC, CPM or tCPA campaigns, which we also support on our platform.
How does it work?
Maximize Conversions automatically optimizes and tailors bids for your ads to get as many conversions as possible within your specified daily budget. In short, this bidding strategy capitalizes on every opportunity to expand the reach of your ads and secure the highest number of conversions with great efficiency.
What are the benefits?
- Stable Daily Spending: Manage your ad spend with confidence, knowing that your daily spend would be close to your allotted daily budget.
- Constraint Removal: With Maximize Conversions, NewsBreak aims to get you as many conversions as it can, regardless of CPA. Simply put, there is no ceiling to conversion.
- Expanded Reach: By leveraging dynamic bidding and AI-driven optimizations, this bidding strategy enables your ads to reach a broader audience.
Who is a good fit for Maximize Conversions?
Maximize conversions is a spend-based bidding, so it's a good fit for those who are interested in generating as many conversions as possible and might end up spending less per conversion than planned. Performance advertisers especially are a good fit, since they typically have clearly defined performance goals and seek to maximize the return on their advertising investment.
How to set up Maximize Conversions
- Access Ad Management.
- Create a new campaign.
- Begin by creating a new campaign under the 'Conversion' objective column. You have two options: 'Website Conversions' or 'App Install.'
- Select an event to track within your Ad Set.
- Click the dropdown under ‘Choose your event to track’ and select ‘Create new event.'
- In Event Management, click ‘Create event.’
- Here you will name your event, decide on your event tracking type, and follow the 3-step-process to integrate your Pixel or Postback.
- Test Pixel or Postback.
- Before launching your campaign, make sure to use our ‘Go test’ feature at the bottom of the page. Hopefully you will see ‘Test result: successful.’
- Save and proceed.
- Once you have successfully tested the tracking implementation and created your event, save the changes, and proceed with setting up your ad.
Maximize Conversion Best Practices
It's highly recommended to begin with a small budget to let the system learn. We suggest setting your daily budget around 10x your goal CPA.
- Remain patient during the learning phase as our model needs time to capture learnings.
After the learning phase is complete:
Below Expected CPA: If your actual CPA is lower than your expected CPA, consider increasing your budget.
Above Expected CPA: If your actual CPA exceeds your expected CPA, within your current ad set, you have a few options:
Decrease the budget first and make sure the performance is under control.
Adjust your target audience.
Optimize your creative to boost the CTR.
Make a copy of your ad set: If you’re seeking different performance outcomes, duplicating ad sets can sometimes yield different results. Proceed with caution though, as it resets the learning phase.
If you need to adjust your budget, we suggest not to adjust it drastically. Only increase or decrease the budget by a maximum of 30% to 50% each time and closely monitor the performance for 2-3 days to gauge the impact.
If you have any questions about Maximize Conversions, please contact firstname.lastname@example.org.