Detailed explanation of Wish platform Product Boost (PB) bidding settings: key strategies for optimizing traffic and conversions

On the Wish platform, the Product Boost (PB) tool provides sellers with an important way to attract traffic. By setting effective bids for your products, you can increase your product’s exposure and thus boost sales. This article will combine multiple dimensions such as bidding settings, bidding upper limits, bidding techniques and key elements to help sellers effectively use PB tools and improve operational efficiency.

What is bidding?

Bidding refers to the keyword price set by sellers for specific products participating in ProductBoost activities. The campaign uses a CPM (cost per thousand impressions) model, where sellers pay for every 1,000 times their products are shown to potential customers. For example, if the seller sets a bid of $0.5 for product A and adds three keywords, then after matching customer search behavior, product A will be displayed 1,000 times, and the seller will have to pay a fee of $0.5.

Instructions for bidding

When setting up bids, sellers should pay attention to the following points:

• Bids are priced in U.S. dollars, with a minimum of $0.3 and a maximum of $10.
• The price format should be “$+number” or a pure number, such as “$3” or 3, and can be accurate to up to two decimal places.

Bidding cap setting

Each seller’s bid limit varies depending on the product, and it is important to set the bid limit appropriately. Sellers should consider multiple factors such as product click-through rate, click-to-conversion rate, and profit. The bid limit can be calculated using the formula:

[ text{Bid limit} = text{Product profit} times text{Click rate} times text{Click conversion rate} times 1000 ]

For example, if Product A earns $1 in profit per unit sold, generates 10 clicks for every 1,000 impressions (a click-through rate of 1%), and converts to 1 sale for every 10 clicks (a click-to-conversion rate of 10 %), the bidding limit for this product is $1. Exceeding this limit may result in increased traffic but loss of profits, which is detrimental to small and medium-sized sellers.

Bid setting tips

Bidding setting can be regarded as an art. Sellers should consider the following elements when setting up to achieve the best balance between traffic and sales:

1. Recommended bid: Combined with the historical bid of the keyword, if the recommended bid continues to rise, the seller should increase the price appropriately to maintain a competitive advantage.

2. Activity time: Bidding should be appropriately increased during times when users are active in shopping (such as weekends or holidays) to maximize the traffic drainage effect.

3. Product Nature: For products that have been verified to be effective, sellers should actively set higher bids; for new products, they are encouraged to quickly obtain test data and can also increase bids appropriately.

Four key factors of PB

In order to operate PB more successfully, sellers should focus on the following four key aspects:

1. Product Selection: The traffic distribution mechanism favorably gives high-quality products more exposure, so sellers need to focus on promoting products with higher ratings to improve conversion efficiency.

2. Keyword selection: Reasonable keywords can not only increase exposure, but also affect the display effect. Sellers need to choose highly relevant and popular keywords for optimization.

3. Activity time selection: Selecting the appropriate activity time for bidding settings will help maximize traffic.

4. Budget selection: Properly allocate the overall budget to ensure optimal traffic acquisition without causing loss of profits.

By setting bids appropriately, monitoring market dynamics, and focusing on the selection of keywords and event times, sellers can maximize the use of the PB tool on the Wish platform to gain more traffic and sales opportunities for their products.