Maximize Conversions

In this article, we will take a look at what Maximize Conversions bidding is, how it works and who is a good fit for it on NewsBreak. For a more in depth comparison to Target CPA, please review our accompanying FAQ article here.

What is Maximize Conversions?

Powered by Machine Learning and AI, Maximize Conversions is a new bidding strategy designed to predictably spend your daily budget while also delivering as many conversions as possible. This may be considered as an alternative to CPC, CPM or tCPA campaigns, which we also support on our platform.

How does it work?

Maximize Conversions automatically optimizes and tailors bids for your ads to get as many conversions as possible within your specified daily budget. In short, this bidding strategy capitalizes on every opportunity to expand the reach of your ads and secure the highest number of conversions with great efficiency. 

What are the benefits? 

1. Stable Daily Spending: Manage your ad spend with confidence, knowing that your daily spend would be close to your allotted daily budget.
2. Constraint Removal: With Maximize Conversions, NewsBreak aims to get you as many conversions as it can, regardless of CPA. Simply put, there is no ceiling to conversion.
3. Expanded Reach: By leveraging dynamic bidding and AI-driven optimizations, this bidding strategy enables your ads to reach a broader audience.

Who is a good fit for Maximize Conversions?

Maximize conversions is a spend-based bidding, so it's a good fit for those who are interested in generating as many conversions as possible and might end up spending less per conversion than planned. Performance advertisers especially are a good fit, since they typically have clearly defined performance goals and seek to maximize the return on their advertising investment.

How to set up Maximize Conversions

1. Access Ad Management.
2. Create a new campaign.
   • Begin by creating a new campaign under the 'Conversion' objective column. You have two options: 'Website Conversions' or 'App Install.'  
3. Select an event to track within your Ad Set.
   • Click the dropdown under ‘Choose your event to track’ and select ‘Create new event.'
4. In Event Management, click ‘Create event.’
   • Here you will name your event, decide on your event tracking type, and follow the 3-step-process to integrate your Pixel or Postback.
5. Test Pixel or Postback.
   • Before launching your campaign, make sure to use our ‘Go test’ feature at the bottom of the page. Hopefully you will see ‘Test result: successful.’
6. Save and proceed.
   • Once you have successfully tested the tracking implementation and created your event, save the changes, and proceed with setting up your ad.

Best Practices - Setup 

1. Daily Budget

   • It's highly recommended to begin with a small budget to let the system learn. More specifically, we suggest setting your daily budget around 10x your goal CPA (although there are some exceptions to this rule). Note that our recommended range to start is $50-$500.

   • For example, if your CPA is lower, such as $3, we do not recommend a daily budget of $30 as it is too small: We suggest starting with at least $50.
   • For example, if your CPA is higher, such as $100 per conversion, we don't recommend starting with a $1,000 daily budget: We suggest starting with a maximum of $500.
2. Ad Set Creation
   • To start, we suggest creating 2-3 ad sets under one campaign.
3. Stay Patient
   • Remain patient during the learning phase (also known as the cold start period) as our model needs time to capture learnings. This learning phase only takes a few days, so please do not change anything during this time in order to not disrupt these crucial learnings.
4. Targeting
   • Broad targeting is generally recommended for conversion-based campaigns, unless you have restrictions. For example, if you want to advertise a product solely designed for older demographics, applying age-targeting makes sense.

Best Practices - After Cold Start

1. Adjusting Daily Budget
   • If you need to adjust your budget, we suggest not to adjust it drastically. Only increase or decrease the budget by a maximum of 30-50% each time and closely monitor the performance for 2-3 days to gauge the impact. For example, if you start with a daily budget of $500, you may increase it to $750 after the cold start, leave the campaign alone for a few days, and then you can increase to $1,000 once you gauge performance.
2. Ad Sets
   • Keep the higher performing ad set on and switch off the others.

3. After the Learning Phase is Complete:

   • Below Expected CPA: If your actual CPA is lower than your expected CPA, consider increasing your budget. 

   • Above Expected CPA: If your actual CPA exceeds your expected CPA, within your current ad set, you have a few options:

     • Decrease the budget first and make sure the performance is under control.

     • Adjust your target audience.

     • Optimize your creative to boost the CTR.

     • Make a copy of your ad set: If you’re seeking different performance outcomes, duplicating ad sets can sometimes yield different results. Proceed with caution though, as it resets the learning phase.

 💡 Pro Tip: Check in on your campaign's performance every day!