Workflow: Set bids based on conversion value cost

This article will walk you through creating a process to product bids based on conversion values or cost. 

This process would only be appropriate if you're tracking revenue in your shopping campaigns. 

1. On either the insights or performance dashboard, select the client you want to build a process for.

2. From within the Client Account section, click on Shopping. 

3. On the Accounts Processes section, click on the + button.

4. On the New Process modal, enter a title for the process. Then, click on Save.

5. Select which campaigns you wish to run this process on.

6. In the Automate section, click the Enable automatic run checkbox to run this process automatically. Select how often you want to repeat this process, the start date, end date and run time.

7. First we want to make sure that the product is not excluded from the ad group. In the Metric Groups section, select Excluded from the Other submenu.

8. Click and hold the dark square in the Start element, then drag it down and drop onto Excluded element.

9. In the Actions section, click on Ignore.

10. Click and hold the Y button in the Excluded element, then drag it down and drop onto Ignore element.

11. If the product is not excluded, we want to check the number of conversions it has. 

12. To check the conversions for each product, in the Metric Groups section, select  #Conv from the Conversions submenu.

13. In the Condition modal, change the settings to the following:

  • Select == from the dropdown menu and enter 0 in the True if #Conversions isfield.
  • Select Last x days in the Use data from field.
  • Enter 60 in the Number of Days field.
  • Enter Conv == 0 (60 Days) in the Nickname field.

14. Click on save.

15. Click and hold the N button in the Excluded element, then drag it down and drop onto #Conv element.

16. Next, select Custom under the Others submenu in the Metric Groups section.

17. In the Condition modal, select Campaign Level, ConvRate, last 60 and days. Click on Add.

18. In the formula field, change it to [CPG #Clicks (last 60 days)] > ((1 / [CPG ConvRate (last 60 days)]) * 2).

This formula checks if the number of clicks in the last 60 days is greater than two times the target number of clicks based on the conversion rate from the last 60 days.

19. In the Nickname field, enter #Clicks > 2*Target.

20. Click on Save. 

21. Click and hold the Y button in the Conv == 0 (60 Days) element, then drag it down and drop onto #Clicks > 2*Target element.

22. Next, we want to exclude products that have more clicks than two times the target clicks. In the Actions section, click on Exclude.

23. Click and hold the Y button in the #Clicks > 2*Target element, then drag it down and drop onto Exclude element.

24. Next, for those products with conversions, we want to check the cost per conversion. In the Metric Groups section, select Conv Val/Cost under the Conversions submenu.

25. In the Condition modal, change settings to the following and click on Done.

26. Click and hold the N button in the Conv == 0 (60 Days) element, then drag it down and drop onto Conv Val/Cost element.

27. For products with conversions and cost greater than $8, we want to increase the bid by 2%. To do this, in the Actions section, select Set Max CPC.

28. In the Action modal, change the settings to the following and click on Save.

29. Click and hold the Y button in the Conv Val/Cost element, then drag it down and drop onto Set Max CPC element.

30. In the Metric Groups section, select Conv Val/Cost under the Conversions submenu.

31. In the Condition modal, change settings to the following and click on Done.

32. Click and hold the N button in the Conv Val/Cost > 8 element, then drag it down and drop onto Conv Val/Cost < 4 element.

33. In the Actions section, select Set Max CPC.

34. In the Action modal, change the settings to the following and click on Save.

35. Click and hold the Y button in the Conv Val/Cost < 4 element, then drag it down and drop onto Set Max CPC element.

36. In the Actions section, click on Ignore.

37. Click and hold the N button in the Conv Val/Cost < 4 element, then drag it down and drop onto Ignore element.

Congrats, we're done! This process looks at products with conversion value cost between 4 and 8, nothing happens. But if the product is profitable, it will start to increase bids by 2%. If it's not, then it will decrease bids by 2%.

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