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Do you find it time-consuming to manually adjust the bid prices of each individual keyword for your Product Search Ads? Or that you don't have enough data to determine the "best" bid price to maximise your sales conversions?
Enhanced Bid Price will make your life easier by automatically optimising the bid prices of your manually selected keywords to generate more sales conversions, without significantly increasing your ads expense.
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 or not 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 to increase your sales.
When ad clicks are more likely to generate sales, Enhanced Bid Price will increase bid prices by up to 50%. When ad clicks are less likely to generate sales, Enhanced Bid Price will decrease bid prices by up to 50%.
How do I turn this setting on when setting up my Product Search Ads?
When you set up Product Search Ads and add keywords manually, this setting will be turned on by default. You can toggle it off if you prefer, however you will then need to manually optimise your bid prices for each keyword on a regular basis, in order to maximise your sales.
How do I turn this setting on/off for my ongoing Product Search Ads?
To enable this setting for all your existing Product Search Ads,
If you would like to turn this setting on/off for specific Product Search Ads:
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.
Rest assured that our system will adjust your bid price upwards or downwards by up to only 50%.
Can I control this feature from the Shopee app?
No, you will only be able to use this feature by accessing Shopee Ads through the Seller Centre website.
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