As an advertiser on Quora, maximizing performance and optimizing your bidding strategy is crucial for achieving your campaign goals. One effective approach to streamline your bidding process is CPA auto-bidding. In this article, we will explore the ins and outs of CPA auto-bidding on Quora and provide you with a step-by-step guide to help you leverage this feature successfully.
What is CPA auto-bidding?
Cost per acquisition (CPA) auto-bidding is a strategy that automatically sets your bids based on your target budget and CPA to maximize performance. Using advanced machine learning, this bid type dynamically adjusts your bids based on performance—allowing you to optimize your bidding strategy without the need for manual intervention.
Who should use CPA auto-bidding?
Anyone currently using manual CPA bidding
If you are currently utilizing manual CPA bidding on Quora, CPA auto-bidding can offer a more efficient and automated solution.
Advertisers prioritizing steady CPA over scaling
If your primary goal is to maintain a consistent CPA rather than aggressively scaling your campaigns, CPA auto-bidding is an excellent choice. This is particularly beneficial for evergreen campaigns.
Advertisers with specific CPA targets
If hitting a specific CPA is crucial to your campaign’s success, CPA auto-bidding allows you to prioritize your target CPA over other metrics such as CPCs, CPMs, or CTRs.
Campaigns with a conversion objective
If your campaign’s objective is to drive conversions, CPA auto-bidding can help you optimize your bids to achieve your desired cost per acquisition.
Note: Before enrolling in CPA auto-bidding, it is recommended to have generated at least 10 click-through conversions in the rolling seven days under manual CPA bidding.
Why should I use CPA auto-bidding?
We recommend CPA auto-bidding if you’re looking for:
"Set it and forget it" convenience
By implementing auto-bidding for your evergreen campaigns, you can continuously optimize your bidding strategy, saving time and effort spent on manual bidding.
Consistent conversions and audience reach
If your campaign consistently delivers conversions while utilizing CPA bidding, CPA auto-bidding allows you to maintain performance. You can also target specific locations, although it may limit scalability over time.
We do not recommend CPA auto-bidding if you are:
Scaling at a set CPA
If your primary objective is to scale your campaigns while maintaining a specific CPA, CPA auto-bidding may not be the ideal strategy. Auto-bidding prioritizes the CPA goal over daily spend, whereas CPA bidding considers both the CPA goal and daily budget to increase the number of leads.
Drastically decreasing costs
While CPA auto-bidding may help lower your CPA cost, there is no guarantee of significant improvement. If you are aiming for a drastic decrease in conversion rate, it is advisable to explore alternative optimization methods.
Satisfied with CPC bidding
If you are satisfied with your current CPA while using CPC bidding, there is no compelling reason to switch your strategy to CPA auto-bidding.
Best practices for CPA auto-bidding on Quora
To make the most of CPA auto-bidding, follow these best practices:
Start with a single campaign
Before implementing CPA auto-bidding across all your campaigns, it’s recommended to run a test with a single campaign for a few weeks. This allows you to assess its performance and ensure it aligns with your expectations. Once satisfied, you can gradually extend its usage to other campaigns.
Set realistic CPA goals
When setting your CPA goals for auto-bidding, it is advisable to start with a target close to your current performance on Quora. For example, if your current CPA goal is $75, with an ideal goal of $50, you can initially set your CPA auto-bid to $60-$65. Once achieved, gradually lower the CPA goal to approximately $55 to avoid sudden disruptions and potential performance issues.
Double-check ad set budgets
Remember that budgets for CPA auto-bidding are set at the ad set level. Ensure that your ad set budget does not exceed the campaign budget. If you have other ad sets not enrolled in auto-bidding, double-check your math to allocate budgets appropriately.
Allow sufficient time for optimization
Once you have set your numbers and switched to CPA auto-bidding, it’s essential to be patient. The system requires approximately five days to begin working effectively, during which you won’t be able to make changes to the bid. This period allows the algorithm to optimize and stabilize your CPA.
If you aren’t sure if auto bidding is for you, it can be beneficial running two identical ad groups and once they have enough conversions, turn one on auto-bidding and leave one off as a split test.
It can be tempting to make changes to your budget or bid strategy when things aren’t profitable immediately, but try to give auto-bidding at least a week to figure things out before changing anything.
How to get started with CPA auto-bidding on Quora – step-by-step guide
Confirm your ad set has been running on manual CPA bid
Ensure that your ad set has been running on manual CPA bidding and has generated at least 10 click conversions over the past seven days.
Switch to CPA auto-bidding and set goals
Transition your ad set to CPA auto-bidding and define your desired CPA goal and daily budget for the ad set. Remember that the campaign’s daily budget must exceed the ad set’s daily budget.
Allow time for ramp-up
Give the auto-bidding ad set approximately five days to “ramp up.” During this period, the system gradually increases the daily budget you have set to ensure stability in CPA optimization. Note that no changes can be made to the ad set during this period.
Adjust CPA goals as needed
After a couple of weeks, reassess your CPA goals based on the performance and results you have observed. Make necessary adjustments to optimize your bidding strategy further.
Let it run as an evergreen campaign
Once you have fine-tuned your CPA goals, let the ad set run as an evergreen campaign. Enjoy the time-saving benefits of automated bidding and focus on other aspects of your advertising strategy!
For step-by-step setup instructions in Quora Ads Manager, read our CPA auto-bidding help center article.
CPA auto-bidding on Quora offers advertisers a powerful tool to optimize their bidding strategy and streamline their campaign management processes. By following these best practices, you can make informed decisions and maximize the performance of your Quora advertising campaigns. Embrace the convenience of automated bidding and unlock the potential for consistent conversions while saving valuable time and effort.
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