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Optimize Your Shop Ads Effortlessly Through Enhanced Bid Price

This feature is still in beta mode, and is only available to selected sellers. 

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When running Shop ads in manual mode bidding through Enhanced Bid Price, the system adjusts the bid price dynamically according to conversion likelihood, which enables dynamic bidding strategy, optimize ads conversion rate, helping your Shop Ads to achieve better ROAS and higher GMV.

1.Why should I use Enhanced Bid Price? 

It can be time-consuming to manually adjust the bid prices of each individual keyword or Discovery location for your Shop Ads or you may simply feel like you don't have enough data or knowledge to know what is the "best" bid price.

Enhanced Bid Price helps make your life easier by automatically optimizing the bid prices for your Shop Ads to generate more sales conversions, bringing up the Conversion Rate while maintaining your average CPC (cost-per-click) performance. 

2.How would Enhanced Bid Price impact my ads performance?

Enhanced Bid Price will help to increase sales for Shop Ads using Manual Bidding through dynamic adjusting the bidding prices according to the conversion potential. In other words, your ads' Conversion Rate and orders will increase, helping ROAS and GMV to improve.

How does Enhanced Bid Price work? 

Enhanced Bid Price uses an algorithm to predict whether each ad click is likely to lead to a sales conversion based on a variety of factors, such as historical data related to your advertised product, your shop and your customers' shopping habits. 

1. When ad clicks are more likely to generate conversions, Enhanced Bid Price will increase by up to 100% prices to bring more sales. 
2. When ad clicks are less likely to generate conversions, Enhanced Bid Price will decrease by up to 50% prices maintaining stable ad performance.
3. For example, if your bid price is $0.30, our system will automatically increase your bid to no more than $0.60 when ad clicks are more likely to generate sales; while when ad clicks are less likely to generate sales, our system will also automatically decrease your bid to now lower than $0.15.

How to use Enhanced Bid Price for Shop Ads

1. How do I turn this setting on when setting up my Shop Ads?

When you set up new Shop Ads and select Manual Bidding as the bidding method, this setting will be turned on by default. You can toggle it off in Advanced Settings in the Bidding section.

2.How do I turn this setting on/off for my existing Shop Ads?

If you would like to enable this setting for an existing Shop Ad:

1. Go to the Ad Detail Page of the Shop Ad
2. Open Advanced Settings in the Performance section and turn on/off the toggle for Enhanced Bid Price.

3.Does Enhanced Bid Price work for Broad and Exact Match keywords?

Yes, Enhanced Bid Price works for both Broad Match and Exact Match keywords.

4.How should I set and optimise my manual bids with Enhanced Bid Price setting turned on?

You should set the appropriate bid price for your keyword depending on the business outcome you want to achieve. Some tips:

1. Bid competitively and use the suggested bid price if you would like to increase your exposure or sales
2. Use a lower bid price when using Broad Match if you would like to maximize your ROAS

We recommend that you let your ad run with Enhanced Bid Price setting for at least 7 days before optimizing your bid prices. This allows your ad to gather sufficient data for you to optimise its bid price well.

1. Click here for more information on how to set and optimize your bid prices

5. Will Enhanced Bid Price cause my ad spend to exceed my daily budget?

No, each ad's expense will still stay within the daily budget that you set.