Better ROI for Less Work: Introducing Automated Bidding for Sponsored Content on LinkedIn
August 29, 2018
You have a great campaign ready. Creative is set, targeting looks good — but now, you have to figure out what you have to bid. You are always trying to deliver the best performance and ROI for your campaign, and the bid plays a crucial part in this.
If you bid too low, you risk missing out on your ad being seen by its target audience and your campaign under-delivering.
If you bid too high, your costs per result might be a little too expensive to achieve your KPIs.
It’s a frustrating experience to figure out the sweet spot to bid. Can this be easier?
Well, good news: today, we are rolling out automated bidding for Sponsored Content. That means that by using a powerful combination of machine learning and pacing algorithms, our system will find the perfect bid for your Sponsored Content campaigns to get you the most results—be it for more clicks, impressions, leads, website conversions, or even video views—for the best possible price.
Here are some key questions and answers about automated bidding from LinkedIn
- What is automated bidding from LinkedIn? A a new bidding feature for Sponsored Content to get you as many results as possible while spending your budget efficiently --- without the hassle of manually adjusting your bid!
- What objectives can you use it for? It can be used to achieve the following objectives: website visits, awareness, lead form submissions, website conversions, video views.
- Why should you enable it? You have the potential to reduce your cost per result up to 30%. You can also spend your daily budget efficiently — no more leftover budget.
- How does it work? Based on your objective, our system will use historical data and machine learning to automatically find the best bid on members who will fulfill that objective.
- How do you enable it? In regular Sponsored Content campaigns, select “Automated bidding” in the Bid and budget page in Campaign Manager.
Our 50 beta participants saw their costs reduced by 10% to 30% over our two-month test period. Here are some quotes from our beta participants about automated bidding:
Automated bidding has presented itself as a powerful tool for reducing costs to allow more user clicks within any budget. After implementing automatic bidding into our traffic campaigns, we saw our average cost per click reduce 60% (from £6.80 to £2.70) and our clicks increase 140% (from 414 to 997). — Forrest Schaffer, Digital Advertising Associate from Dragon360, representing Tungsten Network.
We’ve been manually adjusting bids with the help of our agency and the LinkedIn team over the past several years of our partnership and it’s been great so far. However, when the LinkedIn team proposed we join their automated bidding pilot, we jumped right in! We subjected 2 of our business lines to this pilot and saw our CPCs decrease by half and double the number of aggregate clicks. We’ll be using this automated bidding feature for our future campaigns! — Justyne Turczynska, Digital Marketing Manager at Canada Post
We’re excited about the results we’ve seen with our higher education clients. With month-over-month improvements in CTR and conversion rates, and CPCs and cost per conversions on the decline, we’re able to more effectively and efficiently reach our clients’ target audiences on LinkedIn. — Erika Fields, Social Media Manager, Carnegie Dartlet
What’s next? Later this year, we are building automated bidding for more ad formats.
Ready to try out automated bidding to drive more ROI and spend your budget efficiently? Go to your Campaign Manager and select “Automated bid” in the Bid and budget page.
Questions? Learn more at the help center!
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