AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Andrew Faris Podcast
AMA #1: Bid Caps
Dec 7, 2023
Topics discussed in this podcast include bid caps account structure, bidding strategies and ad sets, bid caps vs cost caps, testing new creatives with bid controls, optimizing for one day click, fixed budget allocation strategies, and running multiple ad accounts.
54:12
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Setting bid caps allows advertisers to control the maximum amount to pay for a conversion and maintain a target customer acquisition cost while enabling scalability.
- Organizing ad sets based on Average Order Value (AOV) helps in setting bid caps effectively and aligning them with the unit economics of the business.
Deep dives
Importance of Bid Caps in Media Buying
Bid caps in media buying play a crucial role in controlling the maximum amount to pay for a conversion. By setting bid caps, advertisers can enable the platform to bid in auctions and strive to acquire conversions at or below the specified cost. This strategy allows for scalability while maintaining a target customer acquisition cost. Bid caps differ from cost caps, as the former focuses on a maximum price per conversion, while the latter provides an average outcome. Bid caps provide advantages such as maximizing spend efficiency and accommodating different products with varying Average Order Values (AOV).
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode