Walmart announced that it’s rolling out its dynamic bidding beta feature — news that has me very excited. I immediately met with my team to discuss how to adjust some of our manual client campaigns to leverage the new feature and explore how it might improve our current strategies.
If you’re not well-versed in marketing, the recent rollout of dynamic bidding for Walmart advertising might not seem very important. I thought I’d write a quick blog to explain what dynamic bidding means for your Walmart ads.
What is Dynamic Bidding?
First things first, let’s break down what we’re talking about. Dynamic Bidding is Walmart Connect’s new optimized bidding strategy. (Walmart Connect is the Walmart retail advertising platform.) It’s designed to help you save time, manage your budget more effectively, and squeeze every drop of potential out of your campaigns.
Currently, Dynamic Bidding is only available for Sponsored Products campaigns. It’s an addition to the fixed bidding option, giving you more customization opportunities with your campaign.
Why Should You Care? The Benefits of Dynamic Bidding
There are several benefits of using dynamic bidding for your advertising campaigns:
Helps Boost Conversion
Dynamic bidding is smart. It analyzes data in real time to figure out which clicks are more likely to turn into sales. When it spots a high-potential click, it can bump up your bid to give you a better shot at winning that ad spot.
Optimizes Your Ad Budget
No more throwing money at clicks that go nowhere. Dynamic bidding can lower your bid for clicks that are less likely to convert.
Saves You Time
Let’s face it: constantly adjusting bids can be a time-suck. Dynamic bidding takes some of that off your plate, freeing you up to focus on other aspects of your marketing campaign.
Removes Guesswork
Dynamic bidding uses real data to make informed adjustments.
All this said dynamic bidding should still be monitored by an advertising specialist who knows what they’re working with. While I definitely plan to explore the new feature, I’ll still be monitoring it closely and stepping in when I think it’s best to go in a different direction.
How Walmart Dynamic Bidding Works
Wondering how this new Walmart advertising feature works? I was, too. After I did some research, I was able to figure out how dynamic bidding works on the Walmart Connect platform.
- Walmart’s ad platform looks at two key things: How relevant your ad is to the search and how well your product has performed in the past.
- Based on this analysis, it decides whether to raise or lower your bid from your set base bid.
- If it thinks a click is likely to lead to a sale, it can raise your bid by up to 100%. This gives you a better shot at winning a competitive ad spot.
- On the flip side, if it thinks a click is less likely to convert, it can lower your bid by up to 50%. But don’t worry – it won’t go below the minimum floor price.
Pretty cool, right? It’s like having a super-smart bidding robot working for you 24/7. That said, I personally would still want a human making the final call on where my dollars are spent, so I’ll be closely watching the dynamic bidding strategy.
Why You Should Consider Hiring a Walmart Advertising Agency
Now, I know what you’re thinking. “This sounds great, but it also sounds complicated.” And you’re not wrong. While dynamic bidding can be a powerful tool, getting the most out of it requires some expertise.
That’s where a Walmart Advertising agency comes in. I’ve been working as an advertising specialist with Walmart for a few years now and let me tell you, there’s a lot to know and learn. Not to mention, the platform is always making changes (like adding dynamic bidding), so keeping up with it is a full time job.
Here’s what you can expect from working with a Walmart advertising expert:
- I’ll set up your campaigns to take full advantage of both fixed and dynamic bidding where appropriate.
- I’ll regularly monitor your ad performance and adjust to ensure we’re using the strategy that will get you the best return on your ad spend.
- I stay on top of Walmart news and industry updates, so I can integrate all of the valuable Walmart advertising features into your campaign for maximum return.
- I’ll keep you updated on new features with regular meetings to let you know how your campaign is performing and what I’m actively doing to increase your results.
So there you have it—your crash course in Walmart dynamic bidding. Whether you decide to dive in yourself or hire the pros, this powerful tool can help take your Walmart advertising to the next level.
If you’d like to set up a call with me to discuss how to advertise on Walmart and beyond, I’m more than happy to chat! Click the schedule a call button below to get started.
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