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Why should I use Enhanced Bid Price? 

It can be time-consuming to manually adjust the bid prices of each individual keyword for Product Search Ads, or each display location for Discovery Ads. Alternatively, you may simply feel like you have insufficient data to know what the “best” bid price is.

Enhanced Bid Price helps make driving sales via your Ads much easier by automatically optimising the bid prices of your manually selected keywords for Product Search Ads or Discovery Ads in line with how likely clicks are to result in a conversion. This will allow you to generate more sales while maintaining a desirable average CPC. 

How does Enhanced Bid Price work? 

Enhanced Bid Price uses an algorithm to predict whether ad clicks are likely to lead to a sale/conversion based on a variety of factors such as historical data related to your advertised product, your shop, and each shopper's buying behaviour.

It then automatically adjusts the bid prices of your manually selected keywords or Discovery Ad in line with how likely clicks are to generate sales and traffic quality. However, you can rest assured that your daily CPC will not exceed an increase of more than 100% or decrease of more than 50% from the desired bid price you have set.

 For example, if your bid price is $1,

1. Our system will automatically adjust bids for each click in line with likelihood to generate sales and traffic quality. 
2. Even with the aforementioned dynamic bidding, the algorithm ensures that your overall daily CPC (daily ad spend ÷ daily clicks) will still fall within the range of $0.50 - $2.00.

How would Enhanced Bid Price impact my ads performance?

Enhanced Bid Price will help to drive improvement in Return on Advertising Spend(ROAS). The goal is to maintain your average ads CPC while increasing sales from your Product Search Ads with manually selected keywords or Discovery Ads (with Auto Optimisation turned off).

Enhanced Bid Price for Product Search Ads

1. Setting Up New Ads: How do I turn Enhanced Bid Price setting on for my Product Search Ads?

When you set up new Product Search Ads and add keywords manually, Enhanced Bid Price setting will be turned on by default. You can toggle it off if you prefer - but this means that you will have to manually optimise your bid prices for each keyword on a regular basis in order to maximise your sales. 

2.Existing Ads:How do I turn Enhanced Bid Price setting on/off for my existing Product Search Ads?

To enable this setting for all your existing Product Search Ads,

1. Select "Turn On Now" when you see the prompt below upon entering Shopee Ads homepage 

If you would like to turn this setting on/off for specific Product Search Ads:

1. Go to the Ad Detail page of the relevant Product Search Ads
2. Turn on/off the toggle for Enhanced Bid Price

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

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?

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 to increase your exposure or sales
2. Use a lower bid price when using Broad Match if you would like to maximise your ROAS
3. Click here for more information on how to set your bid prices 

We recommend that you let your ad run with Enhanced Bid Price setting for at least 7 days before optimising your bid prices. This allows the algorithm time to gather sufficient data to optimise bid prices.

1. Click here for more information on how to optimise your bid prices

5.Can I control this feature for Product Search Ads from the Shopee app?

No, you will only be able to use this feature by accessing Shopee Ads through the Seller Centre website.

Enhanced Bid Price for Discovery Ads

1. Setting Up New Ads: How do I turn this setting on when setting up my Discovery Ads?

When you set up Discovery Ads and turn off Auto Optimisation mode, Enhanced Bid Price will be turned on by default. You can toggle it off if you prefer - but you will need to manually optimise your bid price for each ad on a regular basis to maximise your sales. 

1. On desktop, you can disable the feature for each individual ad by turning the Enhanced Bid Price toggle off (picture 1a)
2. On mobile, you can disable the Enhanced Bid Price feature for all Discovery Ads being set up by turning the toggle off (picture 1b)

1a. Desktop 1b. Mobile

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

To enable this setting for your all existing active manual Discovery Ads and Product Search Ads with manually selected keywords:

1. Select "Enable Now" when you see the prompt below upon entering Shopee Ads homepage both on Desktop(picture 2a) and Mobile (picture 2b)

2a. Desktop 2b. Mobile

If you would like to turn this setting on/off for specific Discovery Ads:

1. Go to the Ad Detail page of the relevant Discovery Ads
2. Turn on/off the toggle for Enhanced Bid Price
3. For Desktop, you can turn on/off the toggle under product name (picture 3a)
4. For Mobile, you can click into Bid Price (Enhanced) and arrive at the Edit Bid Price popup, then turn on/off the toggle of Enhanced Bid Price (picture 3b)

3a. Desktop

3b. Enhanced Bid Price setting on Ad Detail Page (Mobile)

3. How should I set and optimise Discovery Ads with Enhanced Bid Price setting turned on?

You should set an appropriate bid price for the Discovery Ads 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. Click here for more information on how to set your bid prices and premium rates

We recommend that you let your ad run with Enhanced Bid Price setting for at least 7 days before optimising your bid prices. This allows the algorithm time to gather sufficient data to optimise bid prices.

FAQs for Enhanced Bid Price

Will Enhanced Bid Price cause my ad spend to exceed the budget that I set?

No, each ad's expense will still stay within the Total or Daily Budget that you set.

Why am I not able to see how Shopee is optimising my bid prices?

An algorithm updates your bid prices every few minutes throughout the day, which makes it impractical to dynamically update the bid prices in real time.