Last week Yandex.Direct introduced a new addition to their set of automated strategies – “average conversion price”. The strategy is similar to Google’s Conversion optimizer, i.e. it works on maximizing the amount of conversions and maintaining specified CPA.
Automated strategies in Yandex.Direct
Up until now Yandex.Direct provided 4 automated strategies that modify bid level according to the campaign goals:
- Weekly budget: maximum amount of clicks
- Weekly budget: maximum conversions
- Average CPC
- Weekly click package
Since very few PPC bid management tools work with Yandex.Direct, these strategies have been quite popular among both agencies and advertisers.
All of the automated strategies are based on Yandex’s own mathematical algorithms. Bids are recalculated every 15 minutes.
“Weekly budget: maximum conversions” strategy requires integration with Yandex.Metrika.
Average Conversion Price strategy
In order to start using “average conversion price” strategy, advertiser needs to implement Yandex.Metrika on the site and configure goals. Once configured, goals are automatically imported in Yandex.Direct together with other site usage data from Metrika.
The “average conversion price” strategy works in a similar way as Google’s Conversion Optimizer – the advertiser needs to specify the average price he / she would like to pay for a conversion, and Yandex algorithm will optimize towards that price.
Since “average conversion price” is an automated strategy, it is wise to set up limitations for bidding. Yandex.Direct allows capping weekly budget and maxing CPC.
The first pilots showed promising results. As Yandex reports in their blog [in Russian], test of this new bidding strategy with one of the Russian banks resulted into 20% lower CPA and 2.5 times higher number of conversions.