In a somewhat surprising feature release, bid multipliers are here for ChatGPT ads. It’s not clear if all advertisers participating in the beta have access (I do).
Let’s take a closer look…
What Are Bid Multipliers?
If you have this feature, you’ll see a new “Advanced” section in the ad group. Expand it, and you’ll see an option for “Audience Bid Adjustments.”
Bid multipliers allow you to raise or lower a bid when a viewer belongs to a selected audience. And that audience would be defined using a custom audience. Custom audiences also arrived a few weeks ago for ChatGPT advertisers.
Bid multipliers would allow you to bid less to reach existing customers or more on qualified leads. Or bid more or less based on any custom audience you’ve created.
If the concept behind bid multipliers sounds familiar, they work a whole lot like Meta’s new value rule for audiences.
The fact that this feature is part of OpenAI’s early product map is surprising, to say the least.
Are They Useful?
The unfortunate part for ChatGPT ads is that custom audiences need at least 25,000 people in them to be used. That’s going to cut out many of the typical reasons we might use them. Most brands won’t have 25,000 qualified leads, disqualified leads, or possibly even paying customers.
I assume that the minimum will be dropped eventually. It’s already come down from 100,000, and these features are all in a very early testing phase.
Bid multipliers could be especially useful for ChatGPT ads because we don’t know how good OpenAI’s algorithmic targeting is. Are your ads already reaching remarketing audiences by default, like with Meta ads? How much of an impact do context hints make?
We don’t know. And that’s why guiding delivery based on the data we have may help performance.
