For merchants participating in productboost activities, product price labeling is really a headache. The auction result is one of the important factors affecting the effect of productboost. If the auction price is too high, the merchant budget is insufficient, and the auction price is too low, the activity has no effect. What kind of auction price is the most appropriate? How can we get more traffic with the least money? Today we will learn how to set the productboost auction price.
1. What is the productboost auction price?
The auction price is the price of all keywords set by merchants for a single product when participating in the PB activity. There are two charging modes in productboost: one is the fee paid for each product when participating in the activity, and the other is the total cost of the traffic obtained during the activity, which is calculated based on product bidding and traffic. Here is the second one. For example, the wish platform displays the product to potential consumers 1,000 times, and the cost of these 100 times is the price of the keyword.
2. What are the matters that need to be paid attention to when setting the auction price?
1. Merchants should know that the price of productboost activities is in US dollars. Do not make conversion errors to exceed the budget.
2. The minimum bid price of Productboost activities is 0.3 US dollars, and the maximum bid price is 10 US dollars.
3. The input format of the bid price should be US dollars plus numbers, such as $5 or 5
4. The bid price can only be accurate to two decimal places, such as 4.98
3. What does the recommended bid in productboost mean?
In order for merchants to accurately set the bid price, Wish will provide a reference price based on the popularity of the keywords set by the merchant, which is the recommended bid. This price is the highest price given by other merchants in the previous cycle. When pricing, it is higher or closer to this price, and the more traffic you get. Merchants can view it in the keyword tool in the Wish navigation bar.
4. Bidding Setting Skills
How to set the most reasonable bidding price, here are some points to note:
1. Reference suggested bidding
This is the highest price obtained by the platform based on previous data. If this price has been rising for multiple consecutive cycles, merchants need to set a higher bidding price, otherwise the subsequent price advantage will become lower and lower, and the effect will become worse and worse.
2. Activity time
The activity time is an important factor affecting PB. Compared with normal time, on weekends and holidays, the bidding price should be set higher at this time to attract more traffic and obtain more potential customers to a greater extent.
3. The nature of the product. For products that have been tested, when you can obtain traffic conversion by setting keywords, you can adopt an aggressive approach to sales. For products that have not been tested, it is recommended that you participate in the bidding by raising the bidding price while obtaining test data.