Walmart is a household name, especially for those who live in the United States. Walmart is not only well known for its retail stores but also as an e-commerce provider to millions of customers around the world. One way Walmart is trying to stay ahead of the game is by improving its services for online sellers. They recently introduced an automated bid-price recommendation system that will suggest the best bid price you should use for your sponsored product campaigns on Walmart.
This new feature will help ensure that you are using the most optimal bid prices, which can lead to a higher chance of you seeing success with your campaigns. So how does the automated bid-price recommendations work?
What Is Walmart’s New Automated Bid-Price Recommendations
Walmart has recently announced a new update to its sponsored products campaign tool. The update includes a feature that will automatically recommend bid prices for your campaigns. This is designed to help you make more informed decisions about what you should be bidding for each campaign, and give you a higher chance of success!
The new bid-price recommendations will take into account multiple factors such as your budget, product target audience, and competition. It will then generate a recommended bid price for you to use in your campaigns.
Walmart’s automated bid-price recommendations should only be used as a guide and not taken verbatim. Make sure to run your own product research and take into account other factors such as sales history or seasonality before deciding on what bid you want to offer. The suggested bid price by Walmart is never the exact number you will pay and is not set in stone.
How Does It Work
When you set up campaigns in Walmart, you will now see suggested cost-per-click (CPC) costs. This will give you an estimate of what the best bid price would be for your keyword. This takes into account how well your product is performing and how popular it is on Walmart.
This makes it easier than ever to set up and run a successful campaign on Walmart. You can now be confident that you are bidding at the right price and getting the most out of your advertising dollars.
For Automatic Campaigns
For Automatic Sponsored Products campaigns, the Suggested CPC appears next to each item in the campaign:
For Manual Campaigns
For Manual Sponsored Products campaigns, the Suggested CPC appears under the “keywords” tab:
Benefits Of The New System
The new system offers a variety of benefits for Walmart Sponsored Product campaigns. Some of the main benefits include:
- Easier campaign setup — With the new automated bid-price recommendations, it’s now easier than ever to get your campaigns up and running. All you need to do is input your desired keywords or product and let the system suggest competitive bids.
- Increased chances of success — By using the recommended bid prices, you’ll have a higher chance of achieving your desired results for your campaign. This means more sales and conversions for you!
- More control over your campaigns — The new system gives you more control over your bids, so you can adjust them as needed to ensure that you’re always getting the best results for your campaign. This means that you can fine-tune your bids to match your specific goals and budget.
- Greater flexibility — The new system also offers greater flexibility, so you can choose the recommended bid price that works best for you.
- Improved accuracy — The new system provides improved accuracy so you can make better decisions on how to allocate your funds.
- Better campaign performance — Finally, because of the improved bidding, you’ll get the most out of your marketing efforts and ultimately increase your revenue!
Why You Should Be Using Automated Bid-Price Recommendations
Bid recommendations have been around for a while on other pay-per-click networks like Google and Amazon. For Walmart sellers, the new automated bid-price recommendations is a great addition to the platform. With this update, Walmart is now able to provide you with the best bid price for your sponsored product campaigns. This will help provide the best possible bidding prices at every stage in the process. And with bid-price recommendations, you can also save time and money while running your campaigns. Now you can set up and run your campaigns with a higher chance of success! So be sure to take advantage of the new bid-price recommendations and see how they can help your campaigns.
By making it easier than ever, Walmart has made it more important that marketers take advantage of these benefits. If all of this sounds intimidating and want some guidance on how to effectively manage your sponsored product campaigns, then contact us today. Learn more about the e-commerce marketing solutions we offer and the platforms we manage, including Walmart Marketplace.Learn More About Our Walmart Seller Central Management Schedule A Call Today