Arthur Hainline, Director of Analytics & Optimization, Bidtellect
Bidtellect’s optimization algorithms are built on machine learning, using the billions of data points running through our platform to create predictive models and algorithms. The technology is designed to simplify the complexity of digital advertising, make smart buying decisions and ultimately drive conversions for advertisers.
Performance will always be a top priority for advertisers when evaluating their digital investments. Trusting that there is automated technology in place to ensure spend is consistently optimizing toward desired performance metrics is really important for advertisers’ confidence in their digital marketing efforts. As with all of our technology innovations and enhancements, we are always evaluating the needs of our clients and enhancing our technology to exceed these expectations. Whether the need for Dynamic Creative digital ads are evident or to reshape the current ones out there, we will always see what we can do that will appeal to and attract customers. It is important that we keep the relevant data on our clients so they are in contact with us and we can reach them at specific times. So we may need to verify a postal address through targeted software which can help with accurate records to aid us and our clients.
Focus on Conversions and Performance
Many of the new capabilities in this latest iteration of our optimization technology have a primary focus on conversion based optimizations and post-click activity. This focus improves scaled performance for marketers across multiple campaign metrics. In addition, we made enhancements to existing algorithms to ensure the smartest buying decisions for advertisers.
Multiple KPI optimization, or the ability to optimize toward one or more KPIs in a given campaign, has proven to be highly valuable for advertisers. However, before moving to multiple KPI optimization, it is necessary to learn a bit about what KPIs are and how they can be useful for an organization. KPIs are useful business metrics that can reflect performance. They can let individuals know what they need to analyze to determine the basis for their OKRs (objective and key results). But what are OKRs? OKR is a goal-setting technique that can enable individuals to drive performance improvement and make changes. KPIs and OKRs are both measurable and can help in assessing team performance. (Note: Those interested to learn more about KPIs and OKRs in detail can lookup kpis vs okrs on the Internet.)
That said, once individuals have leant more about OKRs, especially KPIs, they will understand how the latest advancements like multiple KPI optimization can help. Before, advertisers were able to optimize toward each goal for a percentage of the campaign. For example, 20% of the campaign optimized toward CTR and 80% of the campaign optimized toward conversions. However, with these latest changes, advertisers can now optimize toward multiple goals and in concert throughout the campaign.
In addition, we introduced the ability to enter KPI targets. When the user enters a specific target that is what the campaign will optimize toward, leading to stronger performance. If the target is left blank, the campaign will optimize against the average established by the campaign, striving to continually improve that average.
View through conversions is a new metric to report against and optimize towards with unique optimization algorithms. With this conversion type, the user has the ability to change the view through attribution window, ranging between 1-30 days. The combination of the new flexible multi-goal methodology, the ability to change views through and click through attribution windows, and the ability to enter targeted CPA goals, we can accommodate clients that have different standards for measuring attribution. Business owners can look at agencies such as Samba TV who can help them optimize campaigns with an accurate omniscreen identity and holistic solutions with identity resolution and industry-leading TV data.
Optimizing toward post-click activity is really important for advertisers to understand how consumers engage with their content. We developed a new type of optimization, Quality Optimization, designed to enable advertisers to optimize toward this post-click activity when they are unable to implement code on the content. Quality optimization is a unique way for advertisers with engagement or conversion goals to optimize toward high-quality post-click activity.
Video is an integral piece of marketers’ strategies. Recognizing this growth, we introduced two new video goal types, Play Rate and Cost per Completed View (CPCV), providing marketers with multiple options for their video campaigns, depending on objective and type of content.
With these most recent changes, Bidtellect’s platform now offers 11 unique goal types with 66 possible goal combinations. Every client has their own set of unique goals. Bidtellect recognizes that a major part of client performance is offering unique optimization goals that exactly match their needs.
Additionally, advertisers have four new pricing options to choose from. flat Cost per Play (CPP) and flat Cost Per Completed View (CPCV).
Flexible bidding strategies in line with real-time performance have always been a crucial part of how Bidtellect approaches media buying. To support this, we added two new bid types that enhance our ability to buy ads at a price that reflects their value – Dynamic CPC and Dynamic CPM.
Our objective is always to deliver successful campaigns for advertisers and often times this means considering the end user experience. User-level CTR estimates which monitor an individual’s ad exposure and interaction (clicks, engagements etc.) and adjusts delivery based on these insights to avoid ad fatigue and to not inundate consumers with repetitive messaging.
Importance of a Smooth Pacer
Underlying Bidtellect’s optimization technology is the power of a smooth pacer. A smooth pacer enables advertisers to reach their widest audience by pacing out the spend of budget. A built-in, automated pacer is more effective and efficient than frequency capping. This makes planning and budgeting easier for advertisers because the pacer, backed by a real-time data pipeline, ensures smooth and effective pacing to the make the most of the ad spend.
We are now bidding more frequently when inventory has driven optimal KPIs in addition to modifying the actual bid amount. Our pacing algorithm drives smooth and consistent delivery, considering time of day and volume levels in its predictive algorithm.