How to Win More Bids With Bid Status
February 22nd, 2017 Nicholas Perkins
Utilizing the bid status dimension within your Explore dashboard is a quick and easy way to optimize campaigns and win more bids. Although there are a few different types of bid status values, the 3 most prevalent and insightful values are below floor price, lost on price, and won. Each of these values offer unique insights into your overall bid landscape to help you make better decisions.
Bid Status = Below Floor
Below floor bid status represents all bids lost due to bid price was under floor amounts. While there will certainly always be bids lost due to not hitting a price floor, you can often use this metric to identify potential campaign opportunities.
For example, if your trying to optimize a specific campaign that is targeting people in their 20s on iOS devices in the United States, you can use the below floor price bid status as a filter to see what the average floor price currently is and, more importantly, what the current average bid price looks like for that specific campaign. If your average bid price is only a few cents under the average bid floor, just slightly raising bid price could yield significant results in winning more bids.
Additionally, if your trying to optimize spend for that same campaign for a specific Publisher, you can filter or split on below the floor and look at what Publishers you were consistently bidding under the floor for and decide to raise the bid price accordingly to drive more winning bids.
Bid Status = Lost on Price
Lost on price bid status represents all bids that cleared the respective floor price but lost due to being outbid. Similar to bids lost due to being below the floor, the lost on price status can be used to quickly identify potential campaign opportunities within specific accounts.
If we use the previous campaign example of trying to optimize a specific campaign that targets people in their 20s on iOS devices in the United States, you can apply the lost on price filter to quickly see what your average bid price was in comparison to the average winning bid.
If your average bid price is under the average win price, raising your bid price above the average win price can increase your overall win rate success.
Bid Status = Won
Bid status won is pretty straight forward as it indicates the bids that were won within the specific time period you have selected. This status is great for understanding your bid landscape and business as a whole, planning for the success of future campaigns, or doing some real-time troubleshooting.
For example, if you are about to kick off a similar campaign for a customer you have worked with many times before, you can look at the average bid price for winning bids on previous campaigns as a starting baseline bid price when kicking off the new campaign. When it comes to troubleshooting that same campaign, you might notice that the total of won bids is higher than the total impression count, signifying that you might have a technical issue with overall delivery. Additionally, you may also recognize opportunities with publishers to launch Deal IDs if there is heavy bidding and winning activity with specific Publishers.