On CAASie, your bid is the absolute maximum
that you are willing to pay per ad-play.
An ad play usually ranges between 8 and 30 seconds, depending on the type of screen and the location.
We call it a bid because you’ll be bidding in real time against other users. But it’s not like Ebay – you won’t have to sit there and watch the price go up. It’s more like Google ads – where many blind auctions happen all at once. Some you may win, and others you may not.
Each information panel about the sites/screens on CAASie will display how long an ad play is and two prices; minimum average bid and winning average bid.
MIN AVG BID
The average minimum bid is based on the floor price set by the owner.
This price can vary by day and by hour, as it is based on the expected audience numbers.
WINNING AVG BID
The avg. winning bid is an average across all auctions that have taken place on each billboard/screen.
Where the avg. is shown as zero, it means that an auction has never been held for that asset.
Winning an auction.
CAASie runs on a second-price auction, with an minimum increment of five cents (USD).
This means that if User A bids $1, and User B bids $1.20, User B will win the ad play for $1.05.
If there are no other bidders, the winning price will be the floor price at that specific time of day.
If two or more users are bidding at the same price, ad-plays will alternate according to their respective budget constraints.
The bid schedule
When you set your bid price, you can choose to ‘simple bid’ or ‘custom bid’ for each of your chosen locations.
A simple bid means that you want to set a single price across every hour of every day. However, if you want to customise how you bid, you need to fill out a timetable of when you would like (or not like) your ads to play.
You can customise your bids by hour, however it does not guarantee that your ads will play.
Any bid above zero means that you want to be considered for all of the auctions that take place during that hour. The value or price that you enter into the timetable is a cap on how much you are willing to spend per ad-play.
No bid, or a bid of zero, means that you do not want to be considered for auctions within that hour.
The number of auctions within an hour depends upon how many other advertisers are scheduled to play on guaranteed purchases (e.g. via the owner’s sales team).
BID BELOW FLOOR PRICE
If your bid is lower than the minimum asking price (floor), your ads are not eligible to join the auctions.
BID BELOW CURRENT WINNING PRICE
If your bid is not the highest in the auction process, you will not win that specific ad play.
If the remaining balance in your virtual wallet is lower than your max bid price, your ads will not be eligible to join the auction – even if your avg. cost-per-play is lower.
Your budget, or budget limiter, is a tool that is designed to control how quickly your campaign spends, by evenly spreading your chosen budget across a specific time period – an hour, a day or the campaign’s lifetime.
Because your bid schedules are extremely flexible and can be changed at any time, your budget does not take them into consideration.
In this case your campaign expenditure is only limited by the credit in your virtual wallet. Bearing in mind availability and winning bids, your ads will play as frequently as they can until your wallet runs empty.
This figure is how much your want to spread across 60 minutes.
e.g. if you have an hourly budget of $10 you’ll spend up to $10 across any 60 minute period.
This figure is how much your want to spread across 24 hours.
e.g. A daily budget of $100 will give you a theoretical spend of $4.20 across 60 minutes. ($100 ÷ 24hrs)
This figure is how much you want to spread across your campaign – from start date to end date.
e.g $1000 across 2 weeks = theoretical spend of almost $3 across 60 minutes.
($1000 ÷ 14days ÷ 24hrs)
If you extend your campaign, you will need to manually extend your budget to suit it.
For time periods where your ads did not play, the budgets will compound and your theoretical hourly spend will increase.
E.g. If you have a $100 daily budget, but your ads didn’t play for the first 12 hours, the $100 will be spread across the remaining 12 hours and the theoretical hourly spend will increase from $4.2 to roughly $8.4.
Daily and hourly budgets are rolling constraints. This means that budgets do not get confined to specific windows of time.
E.g. When CAASie is using your hourly budget to determine whether your ad can afford to play – she looks at the ‘last 60 minutes’ – not necessarily the time between say, 7am and 8am.
Using multiple limiters together.
You can use multiple budget limiters at the same time. Generally, it can make troubleshooting a little bit more complex – we do not recommend using the hourly budget at the same time as either the daily or lifetime limiters.
When you set up multiple budget limiters, it’s important to remember that CAASie always respects the most restrictive budget (the one with the lowest theoretical hourly spend).
MAX SPEND REACHED (PER HOUR)
If you’ve already used up your theoretical hourly spend (in the last 60 mins) your ads will not be eligible for auctions until the new hour.
BID IS ABOVE HRLY SPEND
If your bid price is above the theoretical hourly spend, your ads won’t be eligible for auctions until your available budget has compounded to the point where it is above the bid price.
most restrictive budget
If you have applied multiple budget limiters, your spend will be limited by the one that has the lowest theoretical hourly spend.
E.g. even if an hourly budget is set to $10, a daily budget of $100 only has a theoretical hourly spend of $4.2. Your campaign will pace to $4.2 per hour instead of $10.
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