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Introduction
Optimize the performance of your Perpetua Goals (Sponsored Products and Sponsored Brands), by applying an automated Bid-Multiplier Schedule based on the past 35-day historical performance and the business objective you wish to focus on the most.
The automation provides 3 objectives that you can choose from:
Maximize Efficiency
Maximize Sales
Maximize Visibility
Once an objective is selected, a suggested automated Stream Bid-Multiplier schedule will be automatically generated every day at 9 am UTC based on historical performance (past 35 days of data) to help you achieve the selected objective. This will eliminate the need for manual analytical work to calculate multipliers.
🚨 Note 🚨
The goals you'd like to include in the automated schedule require a minimum of 7 days of historical performance to automate bid multipliers.
Supported vs. Not Supported Actions
📗Supported Actions
Past 35-day reference period for automation (a minimum of 7 days of historical performance data is required)
📕Not Supported Actions
Pausing a Bid-Multiplier Schedule
Specifying a min/max bid threshold
Specifying a min/max percentage change for bid multipliers
Override the suggested automated multipliers
🚨 Note 🚨
If the automated schedule is applied to more than 1 segment/goal, we will suggest multipliers based on an averaged performance. Consider grouping goals/segments together if they are the same product line and expect to have similar performance.
How To Set Up an Automated Schedule
1️⃣ Navigate to the Stream tab from the left sidebar of your Perpetua Account (1), and navigate to the "Bid multiplier Schedules tab within (2).
2️⃣ Go ahead with the creation of a Stream schedule by following the instructions provided in the "How to Create a Bid Multiplier Schedule" from the Help Centre article here.
3️⃣ You can apply the automation to the Schedule you just created in a few different ways:
Option a): From the Goal's selection flow.
Once you selected your goals, click on the down-pointing arrow "Apply & Automate" button.
Option b) From the Bid-Multiplier Schedules tab.
Select the Schedule (1) and click the "Automate" button(2).
Option c) From the SP or SB, Goal deep dive dashboard.
4️⃣ Select the Automation Objective
From the "Automate Bid Multiplier Schedule" flow, select the objective you would like to achieve. The objective you will select will impact how multipliers are calculated. This can be edited at any time.
5️⃣ Review Suggested Multipliers
From the "Automate Bid Multiplier Schedule" flow, hover over the "Day of the week/time" multiplier cell, to view the average performance for the selected period.
Example:
6️⃣ Click on the "Automate Schedule for x Goals" purple button to activate.
7️⃣ A successful message will populate on the top-right corner of your Stream dashboard to indicate that the automation was successfully applied.
How to Remove the Automation From Your Schedule
1️⃣ Go to the Stream tab, select the Schedule among the left side list from the "Bid Multiplier Schedule" tab and click on "Settings".
2️⃣ Click on the "Remove Automation" button from the "Automate Bid Multiplier Schedule" window.
3️⃣ A successful message will populate the top-right corner of your Stream dashboard, to indicate that the automation was successfully removed.
FAQs
Click on the ▶️ to view the answer.
What is an objective-based optimization?
What is an objective-based optimization?
Perpetua's automated intraday optimization feature allows users to optimize campaigns by specifying the objective they want to achieve (i.e. maximize efficiency, sales or visibility).
Comparing to the traditional single-dimensional optimization where advertisers choose one metric they want to optimize towards, Perpetua takes multiple advertising KPIs into account to make well-informed decisions.
Maximize Sales and Maximize Visibility are strategies geared towards growth, aimed at boosting your sales volume and increasing impressions, respectively. On the other hand, Maximize Efficiency prioritizes advertising efficiency, strategically reducing wasted ad spend during inefficient hours while boosting bids during efficient hours of the day.
Why are the multipliers suggested based on sessions (4 hours) instead of by hour?
Why are the multipliers suggested based on sessions (4 hours) instead of by hour?
Hourly ad performance often experiences data sparsity issues, meaning some hours of the day may witness weak intraday trends and may not have sufficient ad performance data for our model to make reliable bid multiplier suggestions.
If there are certain hours that are not performing well, does the model do anything to actively test out whether there is a potential to perform better?
If there are certain hours that are not performing well, does the model do anything to actively test out whether there is a potential to perform better?
Unfortunately, our optimization currently does not support exploration. The focus will purely be on exploiting the existing trends to make bid suggestions. No action will be taken for sessions with insufficient data. In these cases, you may see 100% as the recommended multiplier for those sessions.
Can We Control How Much We Want the Multipliers to Change Each Time?
Can We Control How Much We Want the Multipliers to Change Each Time?
We do not allow users to specify a rate of change range in the current version. The default max/min rate of change for bid multipliers will be +/- 30%.
Can We Pause a Stream Schedule?
Can We Pause a Stream Schedule?
We do not offer pausing functionality at the moment. For tentpole events, we would recommend making changes at the goal level (i.e. add additional budgets, update target ACoS).
However, you can remove automation at any time and use manual bid multiplier override until you want to run automated intraday schedules again.
Best practices for tentpole events (i.e. 2024 Prime Day)
Best practices for tentpole events (i.e. 2024 Prime Day)
Our model currently does not account for seasonality. We suggest pausing automation before and during major events and manually creating more customized schedules. You will receive a reminder on Intercom as these events approach.
From July 14-20, we paused all Automated Stream Schedules and temporarily disabling the creation of new ones to ensure optimal performance and data accuracy during the biggest online shopping event of the year.
During this period, intraday bid multipliers that were previously automated will default to 100% (normal bid price). However, you are able to manually adjust these multipliers if you want more control.
The 14th - 20th period was also excluded from the look back window so our suggested multipliers won’t be skewed by the high-traffic sessions
Article last updated August 2024. If you find this information to be out of date, please contact hello@perpetua.io.