Reddit’s expanding its automated ad bidding options to more ad objectives, with both Brand Awareness and Reach focused ads in the app now able to implement its smart bidding solutions.
Which will give you more options to optimize your Reddit ad spend, using Reddit’s evolving ad tools and systems to maximize your campaign performance.
As explained by Reddit:
“With this update, advertisers can now choose from two automated bidding strategies – lowest cost and cost cap – to optimize delivery, drive more impressions, and simplify how brand budgets are managed on Reddit. Spend less time adjusting bids and more time driving impact, no matter the scale of your brand campaign.”
To be clear, automated bidding has been available for other Reddit ad objectives (including conversions, app installs and lead gen) for some time, but now, Reddit’s making its improving automated bidding tools available for more ad types.
And Reddit’s ad targeting options are evolving. Earlier this year, Reddit explained how it’s implementing more AI and machine learning processes to drive better results for its ad partners, leading to significant performance improvements.
That’s also been driving by rising usage of Reddit with the research process, as the platform gets additional traffic via Google Search preferences.
On automating bidding specifically, Reddit says that early partners have seen a 16% increase in CPM, on average, and a 17% increase in overall impressions.
So it could be worth trying out, using Reddit ads to reach a more targeted, engaged audience within the consideration phase of the buyer’s journey.
Reddit says that you’ll be able to implement the new bidding options in Brand Awareness and Reach via each respective ad group’s delivery settings:
- Enter your daily or lifetime budget
- Select your bidding strategy: Lowest cost or Cost cap
- (Optional) Enter a CPM cap if you choose Cost cap
Automated bidding for Brand Awareness and Reach is now available globally to both managed and unmanaged advertisers.
You can learn more about your Reddit ads bidding options here.
