Bids are how you use your budget to pay for what different actions on your ads are worth to you. You can select custom bids or automatic bids.
Custom bids are manually set by you. You enter the maximum amount for what that action is worth to you at any one time and update the amount throughout the day manually, when and as often as you want to.
Click Custom underneath Optimization & delivery in Ads Manager.
Minimum bids for each bidding model
Every campaign has a different. Within each campaign type, different countries have different floors. The minimum bid will depend on which countries you select your campaign to target. The bid floor for each country is then converted to the USD equivalent based on the current exchange rate. The minimum bid will be the highest of the different floors for the different countries.
If you select multiple formats, your bid floor will respect the bid floor of the highest format.
For example, if you have a CPC campaign targeting US, UK, Canada, the bid floors are $0.10, £0.07, and $0.10 respectively. We convert these bid floors to USD then set the minimum as the highest price, which would be $0.10.
Remember, you will only pay the minimum amount required at any given time no matter what you set your bid to. If you set your bid to $3 and the minimum amount required to win an auction is $0.50, only $0.50 will be used.
Keyword level bids
When you use keywords, you have the option to apply a keyword level bid. Keyword level bids can help you optimize your campaign based on individual keyword performance. If you use keyword targeting but don't provide a keyword level bid, we'll default to your ad group level bid.
Automatic bidding is only available for traffic campaigns and is the default setting for advertisers running traffic campaigns.
Automatic bids are managed by Pinterest instead of you. Bids are updated by Pinterest automatically several times a day. Pinterest aims to get you the most clicks at the lowest possible cost-per-click (CPC) while also spending your entire budget.
The automatic bidding strategy can produce cost fluctuation, usually at the beginning of a campaign, as Pinterest’s delivery algorithm searches for possible outcomes. For example, if auction competition decreases, costs may go down. If auction competition increases, costs may go up.
Keep in mind that ad group level budgets are still required.
Click Automatic underneath Optimization & delivery in Ads Manager.
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