4 Reasons Why Advertisers Should Try Flexbid
Last month we announced the launch of our new Flexbid Tool on Chartboost Dashboard. In this blog post we are deep diving into who and why advertisers should try Flexbid.
Who should try Flexbid?
Any advertiser can start using Flexbid on Chartboost dashboard today, but here are two specific user cases in which Flexbid can really help leverage your in-app advertising campaigns.
After a big launch of your new mobile app you care about getting as many eye-balls as you can on your app. During this initial stage, advertisers tend to be very aggressive with their advertising campaigns. Once you’ve set up your first campaign and have a significant amount of traffic in which you’ve collected data, you want to tailor and tweak the campaign to get the best possible return. This is the stage where Flexbid comes in to help boost your campaigns.
Dedicated LTV models
If you’re beyond the launch of a new mobile app, but you have a dedicated LTV model for your app, and you know exactly who your high LTV users and low LTV users are, Flexbid can help in boosting campaign performance. With Flexbid, you’ll be able to pay the right price based on what you see in your LTV model for every user you get by buying on Chartboost. You want to pay the right bid for the right quality user. Higher bid for high LTV users and lower bid for low LTV users. Instead of blocking users from your campaign you’ll pay the right price for every install.
For in-depth explanation on how to calculate your LTV read our previous blog posts:
- Why LTV is Critical to App Success and How to Find It
- How to Calculate the Lifetime Value of a Mobile Gamer
Why should you try Flexbid?
➊ It’s like Bid by Pub (but better!)
If you’re familiar with the concept of bid by pub or bid by site id, Flexbid Tool works in a similar fashion but with additional bid dimensions than publisher, such as OS, device type and language. Advertisers can define publishers that should receive higher or lower CPIs than the campaign’s standard. This allows for advertisers to achieve maximum scale while ensuring they meet their ROAS goal.
➋ Get ahead of the competition!
You’ll get an edge over other advertisers on the ad network by being smarter and more strategic with your bids. With Flexbid tool you can beat the competition by placing higher bids for the impressions you really want and lower bids for the impressions you care less about. What impressions values less or more for each advertiser varies which makes Flexbid the optimal optimization tool for advertisers.
➌ Reach your goals at a granular scale!
Uploading new multiplier values or adding new bid dimensions on a daily basis as your LTV changes will allow you to scale efficiently. Work with your data analyst team to understand where your most valuable users are; which publisher apps, what device types, what OS versions, as well as on what language? Find out where your users are and where they are not and bid higher versus lower on those bid dimensions.
➍ Multiple bid strategies in one single advertising campaign
In one single advertising campaign, you’ll able to set different bids for separate audience segments defined.
- You can combine bid dimensions as you like
- For each bid dimension you’ll be able to add as many key values as you like, for example, you can put one publisher app or ten publisher apps.
- For each of the key values, you’ll set the desired multiplier value, anything from 1% to 2500%, which must be added in numeric values, 0.01-25.
- When there is an ad request for an impression that matches the Flexbid bid dimensions and key values you’ve set, the multiplier values will then be applied on the CPI campaign bid.
Start with tracking your data!
If you’re starting fresh with Flexbid today, and you haven’t really looked into your data, start with tracking and looking into the four key bid dimensions; performance by publisher app, country, device model and OS version. Set aside a budget for exploration campaigns and start playing around on Flexbid with these four bid dimensions. Create your account with Chartboost today and start testing!
P.S. I also hosted a webinar recently on how to get started on Flexbid with a dashboard demo. Watch the webinar here.