4 THINGS YOU CAN’T MISS WHILE OPTIMIZING BUDGETS!
The idea of budget optimization extends way beyond the CPA factor. Platforms/Engines like Facebook and Google are constantly evolving, this evolution is to provide quick fixes in order to scale on spends. They may say that their objectives are aligned with ours but I’m sure we’ll all agree otherwise. There are a lot of factors that these engines tend to overlook, the most important ones are the softer KPIs our advertisers set for us.
The new native Facebook campaign budget optimization (CBO) feature will take away the flexibility on budget optimization from us.
At DAN data labs, our constant endeavour is to work with the teams across Dentsu Aegis Network and provide a sustainable, data driven and flexible solution to suit the need of our advertisers. Having said that, I’d like to classify these below in some of the key aspects we look at optimising our campaigns and how DDL helps add the elements:
Volatility:
Adsets performance that are extremely volatile can prove to be harmful for a campaign’s overall performance. Adsets that are performing well today but have seen a lot of variance in the CPA can jeopardize the campaign. DAN Data Lab’s Budget Optimizer (BO) solves for this by considering a combination of recent along with the past performance of the adset before recommending the budget revision.
Saturation:
One thing we may tend to overlook is the saturation of audience. The overall performance of a particular adset might incline us towards pushing more budgets towards it. BO not only factors the CPA, it looks at overall reach of the audience in terms of size and frequency and factors while allocating budgets. Sometimes, it might come to us as a surprise that BO would recommend a budget reduction/stagnation despite a good CPA and this is the possible reason.
Creative performance:
Sometimes, the true potential of an audience doesn’t come out clearly. This can be due to factors like creative not working well for a particular TG. This ends up limiting your success. The new BO looks at the creative by flagging it on the dashboard along with the other factors to help your optimization that extends beyond audiences.
Flexibility:
Campaign performance and evaluation can extend beyond the realm of objectives that are directly supported by Facebook e.g. we have a 60 sec video and Facebook only allows 10 sec to 15 secs (with its new Thruplay optimization) but advertisers are interested in people who’ve watched at least 50% or more. DDL gives you the flexibility of optimizing for a video view based on your requirement. Whether it is 25% or 100% view, you can do it here.
The new feature of FB will take this leverage off campaign managers and we at Data Science division of Dentsu Aegis Network realize this. FB’s CBO has been available for a while with an option to continue running budgets on adset level till 1st September’19 & it’s fair to assume to have a fairly less adoption based on the usage we’ve seen across most of the agencies within DAN. The implications from a process & habit POV still remains unknown.
Proof of the pudding!
We used this opportunity to do a fair test between FB’s CBO against our proprietary Budget Optimizer. Little to our surprise, our Budget Optimizer saw at least 15% + better efficiency on campaign performances while maintaining the following for our users:
- Flexibility on campaigns & Adsets
- Ease of usage
- Data driven & scientific decision-making ability
- Success
To learn more, log on to dandatalab.com
Data Sciences, Dentsu Aegis Network
