Proxy Bidding Integration with Core dna
The proxy bidding feature allows users to place automatic bids on digital content or e-commerce platforms operated through Core dna. This integration aims to streamline the bidding process by enabling marketers to utilize a sophisticated yet user-friendly bidding mechanism.
How Proxy Bidding Works with Core dna
Proxy bidding functions as a virtual agent that represents the bidder. The user sets a maximum bid amount, and the proxy bidding system gradually increases bids for the user in predefined increments, outbidding other competitors automatically but only as much as necessary to maintain winning status. This works seamlessly within Core dna, as it handles user interactions, product listing, and transaction processes efficiently leveraging Core dna's robust API frameworks.
Key Benefits for Marketers
- Increased Efficiency: Save time by automating the bidding process, allowing marketers to focus on strategic campaigns.
- Cost-effective Bidding: Ensures marketers only bid as high as needed without overpaying for digital space or items.
- Competitive Edge: Stay competitive in high-demand slots without the need to constantly monitor auction status.
Technical Overview
| Feature | Details |
|---|---|
| Integration | Seamless API linking for real-time bidding. |
| Bid Increments | Configurable increments to accommodate various markets. |
| Bidder Anonymity | Ensures the privacy and security of proxy bidders. |
| Real-time Updates | Instant notifications on bid status and auction results. |
| Multi-Platform | Cross-platform compatibility to support diverse digital environments. |
Practical Use Case
Imagine a marketer aiming to secure digital advertising space during a peak event. They utilize Core dna's proxy bidding feature to set a maximum bid for the ad space without needing to monitor the auction round the clock. The system automatically places bids on their behalf, ensuring they're not outspent while keeping costs within budget. This allows for optimal use of advertising budgets while ensuring prominent placement during important sales periods.
Implementation Example
To implement proxy bidding, marketers first establish a Core dna account and integrate the proxy bidding API. They define maximum bid thresholds and configure alert settings. Once integrated, they enter ongoing auctions where the proxy acts automatically, adjusting bids within set limits and providing updates through email notifications or dashboard alerts. This seamless experience aids in achieving marketing objectives efficiently and with reduced manual intervention.