::WHAT IS BID ADJUSTMENT BY PARENTAL STATUS::
This article aims to explain a little more about bid adjustment by parental status and how Quantic can do this automatically for you.
Is your product or service aimed at people with children or without children? Can we target this in Ads too? The answer is yes, and in addition to various segmentations such as age, income, gender, we can also target by parental status!
This adjustment refers to changing the value of the bids for audiences from different groups of people, which are:
- With children
- No children
- Unknown
The unknowns are the people that Google has not been able to identify exactly which group they belong to.
Depending on the data from your campaigns, we can increase or reduce the bids for each of the groups in question, and further increase ROAS or reduce CPA. Pn order to further optimize your account, we can add several different bid adjustments to the same campaign, such as parental status, gender and age. If you want to know more about the other two settings, just look here on the blog and there are more articles explaining each one! 🙂
Let's look at a practical example of how to apply this bid adjustment to your campaigns: let's imagine we have an e-commerce business selling baby and children's products. Analyzing the group that converts the most, we find "with children", so we can bid positively for this group, and increase the impressions of my ads only for this group. In this same analysis, I found that the group without children doesn't convert and has a high volume of clicks and consequently a high cost, so we can bid negatively for them to reduce the amount of CPC we pay and avoid wasting money.
It's worth noting that this type of adjustment can currently be made to Display and Video campaigns, leaving out Shopping and Search.
::THE QUANTIC::
Whenever we modify the bids for any type of segmentation in our campaigns, we need to do it with statistical confidence that we're doing the right thing. And that's where our Quantic robot comes in. It makes a thorough analysis of the data present in each of the campaigns and is able to offer suggestions for adjustments for each group, in order to optimize the campaigns and further increase revenue and/or the number of qualified leads.
When the robot finds a group that spends a lot but doesn't convert, it may suggest applying a percentage reduction of up to -90%, or even removing the group in question from the ad groups. In the latter case, our ads do not appear for the removed group. On the other hand, if the robot finds a banner that converts a lot, we can give it a positive bid to ensure that our ads always appear. For example, if your bid for a certain keyword is $2.00, you can apply a 40% increase for the childless audience in a given adgroup. In this case, your bid would become R$2.80 only for them.
The income range adjustment is made at the adgrouplevel, and it is important to analyze each one separately, as the data can differ greatly between ad groups.
::AND HOW DO I DO THIS WITH THE IDEAL BID FOR MY ACCOUNT?
When you log into your Quantic workflow, see if an automatic card about bid adjustments by parental status appears, like this one in the "Inbox" column:
If it appears, just drag it to the "Done" column or press "Execute" and the adjustment will be made automatically! If it hasn't appeared yet, stay calm, because our robot is still collecting information from your account and will only create the card when it is certain with statistical confidence that a group deserves a bid, be it positive or negative. =)
