Autobidding, Topsort's bidless technology, is a retail media revolution. No more adjusting CPCs. Let the algorithm do the hard work and get you the best ROAS.
What is Autobidding?
At the heart of Topsort's technology lies Autobidding – a sophisticated machine learning algorithm. Unlike traditional platforms, Autobidding is engineered to maximize Return On Ad Spend (ROAS). It automates the intricate process of ad campaign management, traditionally done by marketing analysts, by dynamically adjusting cost-per-click (CPC) rates, and fine-tuning your advertising strategies in real-time.
How Does It Work?
Autobidding constantly runs thousands of experiments daily for each product, tweaking CPCs, and adapting strategies to ensure your ads are auctioned at the right moment for the right price. It leverages user feedback, like ad views, clicks, and purchases, to refine its algorithms and predict the likelihood of conversion for each click. This predictive capability is crucial because it determines whether entering an auction at a higher CPC is worthwhile, based on the expected conversion rate and the potential ROAS.
Advanced tip: The most important factor is conversion, which Topsort's algorithm is expert at predicting. If the likelihood of conversion is high, then it makes sense for Topsort's algorithm to enter a higher CPC, as ROAS will still be higher.
The Value Proposition for Advertisers
Topsort’s Autobidding delivers a high return on investment for advertisers. In the past, an analyst could have spent hours or days manually adjusting CPCs per product in order to ensure that the return on investment was worthwhile. They would have also spent a lot of time playing with filters and keywords, constantly checking and adjusting to ensure a good return.
With Autobidding, all of that is a thing of the past. The algorithm will do all that work for you, much better than a human could ever could. A human can't run thousands of experiments a day; even if you hire the most motivated intern!
With Topsort, you can simply set a strategy and let the algorithm do the heavy work for you. You'll see amazing results in return.
Trusting the Algorithm
Understanding Autobidding might seem complex at first, but it's a powerful, data-driven system that's constantly optimizing for the best results. Because it's such a sophisticated system, it can be hard to understand specific results (e.g. why the algorithm showed a particular ad at a particular time). However, the algorithm is showing the ad at that time because it has calculated that it has the highest probability of conversion for whatever reason.
Adjusting how the algorithm works
While the algorithm is highly advanced, you still have an influence over how it behaves. This can be achieved in the following ways:
- As a marketplace, you are able to set a Target ROAS number for the marketplace as a whole
- As a marketplace, you can make adjustments to improve an advertisers' performance
- As an advertiser creating a campaign, you can select a Bidless strategy for each campaign
Conclusion
Topsort's Autobidding is more than just a feature; it's an army of digital marketing analysts, working around the clock to ensure your campaigns are efficient, effective, and evolving. By harnessing the power of advanced machine learning, it transforms the complexities of ad management into a streamlined, results-driven process. Embrace the future of advertising with Topsort's Autobidding and watch your business grow.