What are the best practices for setting daily budgets on Bing Ads compared to Microsoft Advertising Exchange?

Setting daily budgets is an important aspect of managing ad spend on both Bing Ads and Microsoft Advertising Exchange (formerly known as the Microsoft Audience Network). Here are some best practices for setting daily budgets on each platform:

Bing Ads:

1. Set realistic budgets: Set daily budgets that are realistic for your campaign goals and objectives. Consider factors such as the average CPC, expected click-through rate, and target conversion rate when setting your budget.
2. Use shared budgets: If you have multiple campaigns running simultaneously, consider using shared budgets to allocate funds more efficiently. Shared budgets allow you to distribute your budget across multiple campaigns, ensuring that each campaign gets the necessary funds to perform effectively.
3. Monitor performance: Regularly monitor your campaign performance and adjust your daily budgets accordingly. If a campaign is performing well and exceeding its targets, consider increasing the daily budget to capitalize on the momentum. Conversely, if a campaign is underperforming, consider reducing the daily budget to minimize wasted spend.
4. Use automated rules: Bing Ads offers automated rules that allow you to adjust daily budgets based on specific performance metrics. For example, you can set a rule to increase the daily budget by a certain percentage if the click-through rate exceeds a certain threshold.

Microsoft Advertising Exchange:

1. Set separate budgets: Since Microsoft Advertising Exchange operates on a different platform and ad format compared to Bing Ads, it's recommended to set separate daily budgets for each platform. This allows you to allocate funds more effectively and track performance more accurately.
2. Consider audience size: When setting daily budgets for Microsoft Advertising Exchange, consider the size of your target audience. If you're targeting a large audience, you may need to set a higher daily budget to ensure that your ads are seen by a sufficient number of users.
3. Use bid adjustments: Microsoft Advertising Exchange allows you to use bid adjustments to increase or decrease bids based on specific factors such as location, device, and time of day. Use bid adjustments to optimize your daily budget and ensure that your ads are shown to the most relevant users.
4. Monitor performance: Regularly monitor your campaign performance on Microsoft Advertising Exchange and adjust your daily budgets accordingly. Use the platform's reporting and analytics tools to track metrics such as impressions, clicks, and conversions, and adjust your budgets based on performance trends.

Overall, setting daily budgets on Bing Ads and Microsoft Advertising Exchange requires careful consideration of campaign goals, performance metrics, and target audience. By following best practices such as setting realistic budgets, using shared budgets, monitoring performance, and using automated rules, advertisers can optimize their ad spend and maximize their return on investment.