Gone are the days when global wholesalers engage themselves in manual bid management as now they are running their automated management of biding. The term bid management in a digital marketing campaign is a complex term to understand for outsiders. However, the point to remember id it is associated with real-time bidding nowadays. Wikipedia defines real-time bidding as a means by which advertising inventory is bought and sold on a per-impression base, via programmatic instantaneous auction, similar to financial markets.
In this era of digitalization, real-time bidding can easily be differentiated from traditional static auctions as real-time bidding is a per-impression way of bidding while the other is a group of a number of several impressions. Understanding the types of real-time bidding helps you to know hoe bidding is playing an incredibly important role for global wholesalers. It is an innovative solution if a global wholesaler has the target to increase the revenues and growth of its business.
Ruled Based Bid Management:
According to experts, this is the simplest form of bid management. It needs the basic understanding of the rules-based algorithm to improve the growth of the campaign. If you are a global wholesaler then initially you need to select a conversion metric, which includes cost per acquisition, cost per click and cost per impression.
Note:
Cost per acquisition defines the overall amount you spend on a specified acquisition like a sale. Whereas cost per click or pay per click is used to drive referral traffic to websites. Cost per impression is also known as cost per thousand impressions. It deals in the cost or amount you spend each time when your ad gets displayed.
Positional Bid Management:
The more clicks the ads receive, the higher the position the ad has on the search engines. After rules-based bid management, the management tool includes positional bidding. It keeps your bids at an appropriate position in order to receive maximum conversions. Experienced global wholesalers know the exact position where they believe the keywords perform the best. The best part about positional bidding is, it has the potential to identify the conversion rate with a little variance due to the position. It emphasizes more on profit per thousands of impressions over cost per thousands of impressions.
Portfolio-Based Bid Management:
Without wasting much time on keywords and ads, Portfolio-Based Bid Management system’s prime goal is to improve the overall growth of the campaign. The system analyses the whole keyword list to determine the unseen or missed chances of success in your growth as a future global wholesaler. This is the best choice for those wholesalers who have a dream to expand their reach across borders.
Wrapping Up Note:
As Internet-connected devices are becoming part of the human ecosystem, there is an ardent need for digital marketing to enter the wholesale marketing ecosystem in India. Moreover, the Bidding industry is nowadays on the rise as programmatic advertising continues to gain steam in the global market.
LiveSauda can help you tap the poorly developed parts of digital marketing and understand the bid management tools. Connect with us to unveil the future of the wholesale industry in India.
