Linkdein’s Campaign Manager: Are you currently advertising on LinkedIn through LinkedIn Campaign Manager? Do you know how to choose the right bids? It’s recommended that you continue to monitor bidding strategies. If you want to improve your bidding plan to receive a good ROI, here are 7 tips to help you do it.
Determine if you want Budget Utilization or Cost
If you don’t mind using your entire marketing budget, you might choose auto-bid, as this is likely your best option. Auto bidding doesn’t require you to do much guessing, as it will automatically bid for you. It accomplishes this by extracting historical data from your LinkedIn campaigns and aggregated data from LinkedIn members.
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Keep Automated Bidding Within Your Budget by Lowering Your Daily Budget
Lower your budget once the campaign has used the Maximum Cost bid. It’s the best way for you to lower the CPC. You won’t have to raise the automated bid a lot to get it to your daily spending budget.
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Continue to Monitor Your Manual Bids
Linkdein’s Campaign Manager: If cost is more of a concern to you than your budget utilization. You can begin with manual bidding for up to five days. We suggest that you use the recommended bid when about to launch your campaign. It is vitally important to continue monitoring your manual bids so that you know for sure that you are receiving the campaigns you want.
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If your Bid is Utilizing the Full Daily Budget, Go Lower
Linkedin Campaign Manager: Using this method will allow you to get the lowest bid that can be maintained with a daily budget utilization performance. If the campaign doesn’t deliver the full daily budget, you may need to adjust the bid based on your desired budget utilization. If the campaign is healthy, you might want to switch it to auto-bidding so that you can maximize your results and receive better ROI.
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Control Cost by Targeting a Larger Audience
When you have a campaign with a competitive audience of more than 50K, you may have to bid higher to reach the audience.
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Stop Creatives That Don’t Yield High Click-Through Rates
Linkedin Campaign Manager: Switch to creatives that yield a higher click-through rate (CTR). If your creatives are lower than 0.15%, try to refresh with a new copy or design.
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Use the LinkedIn Forecasting Tool
You can estimate future performance if you use the forecasting tool provided through LinkedIn. It will enable you to see both maximum bid and automated bid. Linkdein’s Campaign Manager Going between the two will help you see which one will offer you the best results for the spend that you can comfortably spend.
These are some of the most effective methods for optimizing your bidding. While everyone’s needs will vary depending on their budget, we are certain that even if you don’t adopt all 7 of the suggestions that we offer, using a few of them is sure to prove helpful. You’ll never know unless you try.
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