Quora advertisers have the option to bid based on clicks, impressions, or conversions.
What bidding options are available?
Cost per Click (CPC)
Bid and pay per click on your ad.
Minimum bid is $0.01.
Cost per Impression (CPM)
Bid for 1000 impressions,
pay per impression.
Minimum bid is $0.20.
Bid for a target CPA, pay per impression.
*Conversion Optimized bidding requires the Quora Pixel and 20+ conversions per ad set.
How does Quora’s auction work?
Our ad optimization algorithms use a variety of factors to determine the winner of an auction. This includes, but is not limited to:
- Ad relevance
- Bid price (the maximum price you are willing to pay)
- The likelihood of a user clicking the ad
- User feedback on ads
- Frequency of ad impressions
- Conversions, if applicable
For every ad placement, we consider all eligible ads from your account based on your budget, status, and targeting. In general, our system will favor your highest-performing ads. If more than one ad placement is available, each advertiser is only eligible to win one per page. The winners of the auction are the ads that, according to our predictions, have the highest value for the ad placement.
Best practices for bidding on Quora
- Separate your ad sets: Costs change depending on your primary and demographic targeting. Separating ad sets (ex. desktop vs mobile) improves the accuracy of your suggested bid.
- Bid above the suggested bid whenever possible: Increasing your bid to $5 does not mean you will pay $5 in auctions. Instead, the higher bid will give you access to more ad placements you were previously not winning.
- Avoid underbidding: Your bid is not your final cost. However, it impacts the number and quality of auctions you enter. Low bids receive lower placements, which tend to result in lower CTRs and conversions.
- Always bid your true value: Bidding your true value means you will have full access to the traffic you want from an efficiency standpoint.
- Do not start with Conversion Optimized Bidding: This bidding method relies on conversion data to operate efficiently. If your ad set has insufficient conversion history, your ads will have little to no delivery.
What should my campaign budget be?
Quora Ads does not have a “one size fits all” budget recommendation. Different businesses and industries will have unique KPI requirements, so the following are factors to take into consideration:
- Test duration: Plan to test Quora Ads for at least one month. This provides ample time to launch, optimize, and reiterate on your campaigns. If you have a longer sales cycle, take this into account as well.
- CPA goals: What is your target CPA? If you historically have a $100 CPA and average 5 conversions per day, your campaign should have a daily budget of at least $500.
- Impression and bid forecasts: Create a test campaign and ad set in your Ads Manager. Weekly impressions are projected under an ad set’s Summary, and suggested bids are generated for all targeting types with the exceptions of Audience and Broad Targeting.
This blog post is a chapter from our Marketing on Quora Playbook. Read on to the next chapter, Analyzing Performance.