The Dynamic Pricing model allows you to amend the campaign price dynamically according to the set rules so the lead selling process will be optimized and adaptive for different buyers.
Note: This option is available on demand. Please contact your account manager to proceed.
How to Create the LMS Campaign with a Dynamic Pricing Model
How to modify the existing LMS campaign to align with the Dynamic Pricing model
The “Bid Modifier” tab
How to create a new Bid Modifier Rule
How to modify the existing conditional rule
How to create and manage merged rules
Example of the Bid Modifier merged Rule workflow
How to check the Pricing Model workflow results in the Lead Body section
How to Create the LMS Campaign with a Dynamic Pricing Model
To create the LMS campaign with the Dynamic Pricing model applied, go to the Client Management > Setup > Campaigns section, and click the “Create New Campaign” button.
Fill in the corresponding fields in the “Create New Campaign” pop-up window, and select the “Dynamic Bidding” option in the “Pricing Model” field.
Note: The “Pricing Model” field will appear after selecting the Product and Campaign type in the corresponding fields.
The following settings are available for the Dynamic Pricing model in the “Global” tab in the “Campaign Setup” section :
- Pricing Model: The “Dynamic Bidding” option is selected.
- Base Price: The price to which the minimum price of the campaign will be changed after enabled in the dynamic pricing model. So it will be the starting price for the dynamic bidding.
- Min Allowed Bid: The minimum amount the campaign will buy a lead for. The bid this campaign will offer can not be less than the value set in this field. The value can be in the range from 0 up to Base Price.
- Max Allowed Bid: The maximum amount the campaign will buy a lead for. The bid this campaign will offer can not be higher than the value set in this field The value range is unlimited, but it is recommended to set it higher than the x10 Base Price value. The value could not be lower than the Base Price.
- Round the Number: Set the rounding option for the final price obtained after the modification (Disabled, Round to nearest dollar, Round to nearest 1/10th of a dollar).
- If the “Round to nearest dollar” option is selected the final price will be rounded to the nearest dollar. If the decimal value is less than 0.5, it rounds down; if it is 0.5 or greater, it rounds up.
- If the “Round to nearest 1/10th of a dollar” the final price will be rounded to the nearest tenth of a dollar. If the decimal value is less than 0.05, it rounds down; if it is 0.05 or greater, it rounds up.
Note: If the final price set after the corresponding modification is higher than the value of the “Max Allowed Bid” or lower than the value of the “Min Allowed Bid”, the values of the “Max Allowed Bid” or “Min Allowed Bid” will be set automatically.
Read more on how to create and configure the LMS campaign in the following Knowledge Base article.
How to modify the existing LMS campaign to align with the Dynamic Pricing model
To change the pricing model for the existing LMS campaign, go to the Client Management > Setup > Campaigns section, select the corresponding campaign from the list, and click the “Configure” button in the “Actions” column. Select the “Global” tab in the “Campaign Setup” section and change the option in the “Pricing Model” field to the “Dynamic Bidding”.
Read more about the Global Settings of the LMS campaign in the following Knowledge Base article.
Read more on how to manage the global campaign settings for the Dynamic Pricing Model in the How to Create the LMS campaign with a Dynamic Pricing Model section of this article.
The “Bid Modifier” tab
When the Dynamic Pricing model is enabled, the “Bid Modifier” tab will be available in the “Campaign Setup” section. Here you can define specific rules for modifying the campaign’s price.
The list of the existing Bid Modifier Rules contains the following information:
- Type: The type of parameter the rule is configured for.
- Parameter: The Product field used in comparison and modifying the bid amount.
- Logic: The logical operators that will be used depending on the data format of the selected parameter.
- Value: The value for the selected lead data field for the conditional expression.
- Action: The change to the base price if the set condition is met.
- Modifier: The percentage for the Base Price modification.
- Status: The ongoing status of the Bid Modifier Rule
- Comment: The additional comment that is attached to the Bid Modifier Rule
How to create a new Bid Modifier Rule
To create a new conditional rule for the dynamic pricing model, click the “Add Rule” button and fill in the following fields in the created record row:
- Lead Body Fields: Select the type of parameter the rule is configured for (the “Lead Body Fields” option).
- Parameter: Select the Product field whose value is used in comparison and modifying the bid amount.
- Condition: The logical operators that will be used depending on the data format of the selected parameter:
- For the Numerical field data format, the following operators will be available: Equals, Not Equals, Is One Of (comma separated), Not One Of (comma separated), More, Less, Less Or Equals, More Or Equals, Is Empty, Is Not Empty, Inside Interval, Outside Interval.
- For the String field data format, the following operators will be available: Equals, Not Equals, Is Empty, Is Not Empty, Is One Of (comma separated), Not One Of (comma separated), Contains, Contains One Of (comma separated), Starts With, Starts With One Of (comma separated), Does Not Contain, Does Not Contain One Of (comma separated).
- For the Date field data format, the following operators will be available: Is Empty, Is Not Empty, Before, After, Inside Interval, and Outside Interval.
- Value: Enter the value for the selected lead data field for the conditional expression. Note: The “Set Value” button will be displayed in the ongoing field by default. The possibility to enter the value itself will be available after selecting the data field type and condition.
- Action: Select the change to the base price if the set condition is met. (Increase, Decrease).
- Modifier %: Set the percentage for the Base Price modification. The maximum value of 1000% can be set if the “Increase” action is selected. The minimum value of 100 % can be set if the “Decrease” action is selected. Note: The modifier percentage ratio will be summed up by all rules and rules scopes for which the ser condition is met.
- Comment: Enter the additional comment attached to the rule.
Click the “Save” button to complete and save the created rule.
Click the “Cancel” button to discard the rule creation.
How to modify the existing conditional rule
To edit the existing conditional rule, click the “Edit” button in the “Actions” column and change the following settings in the rule record row:
- Lead Body Fields: Change the type of parameter the rule is configured for (the “Lead Body Fields” option).
- Parameter: Change the Product field whose value is used in comparison and modifying the bid amount.
- Condition: Change logical operators that will be used depending on the data format of the selected parameter:
- For the Numerical field data format, the following operators will be available: Equals, Not Equals, Is One Of (comma separated), Not One Of (comma separated), More, Less, Less Or Equals, More Or Equals, Is Empty, Is Not Empty, Inside Interval, Outside Interval.
- For the String field data format, the following operators will be available: Equals, Not Equals, Is Empty, Is Not Empty, Is One Of (comma separated), Not One Of (comma separated), Contains, Contains One Of (comma separated), Starts With, Starts With One Of (comma separated), Does Not Contain, Does Not Contain One Of (comma separated).
- For the Date field data format, the following operators will be available: Is Empty, Is Not Empty, Before, After, Inside Interval, and Outside Interval.
- Value: Change the value for the selected lead data field for the conditional expression. Note: The “Set Value” button will be displayed in the ongoing field by default. The possibility to enter the value itself will be available after selecting the data field type and condition.
- Action: Change the modification to the base price if the set condition is met. (Increase, Decrease).
- Modifier %: Change the percentage for the Base Price modification. The maximum value of 1000% can be set if the “Increase” action is selected. The minimum value of 100 % can be set if the “Decrease” action is selected. Note: The modifier percentage ratio will be summed up by all rules and rules scopes for which the ser condition is met.
- Status: Change the ongoing status of the conditional rule (Active, Disabled).
- Comment: Change the additional comment attached to the rule.
Click the “Save” button to complete the ongoing changes.
Click the “Cancel” button to discard the ongoing changes.
To delete the conditional rule from the list, click the “Delete” button in the “Actions” column. Confirm the deletion operation by clicking the “Delete” button in the “Delete” pop-up window.
How to create and manage merged rules
The merged conditional rule allows you to combine the existing individual rules to create a unique condition that will be considered met when all individual conditions and combinations are fulfilled simultaneously.
To merge a couple of conditional rules, check the corresponding boxes in the first column of the rules list. After checking the corresponding boxes, the “Bulk Actions” block along with the “Merge” button appears.
To combine a couple of existing in one, click the “Merge” button in the “Bulk Actions” block, and fill in the following fields in the “Merge Rules” pop-up window:
- Merged Action: Select the action that should be performed to the Base Price for the merged rule (Increase, Decrease).
- Merged Modifier, %: Set the percentage ratio for the Base Price modification for the merged rule
- Merged Status: Select the ongoing status for the merged rule.
Click the “Merge” button to create a combined conditional rule.
The combined merge conditional rule will be displayed in the following way.
Note: You can also combine the merged rule with the individual or already merged existing rule and create the merged rule.
To edit the existing merged rule, click the “Edit” button in the “Actions” column and change the following settings in the merged rule record row:
- Lead Body Fields: The type of parameter the rule is configured for (the “Lead Body Fields” option).
- Parameter: Change the Product field whose value is used in comparison and modifying the bid amount.
- Condition: Change logical operators that will be used depending on the data format of the selected parameter for each individual condition:
- For the Numerical field data format, the following operators will be available: Equals, Not Equals, Is One Of (comma separated), Not One Of (comma separated), More, Less, Less Or Equals, More Or Equals, Is Empty, Is Not Empty, Inside Interval, Outside Interval.
- For the String field data format, the following operators will be available: Equals, Not Equals, Is Empty, Is Not Empty, Is One Of (comma separated), Not One Of (comma separated), Contains, Contains One Of (comma separated), Starts With, Starts With One Of (comma separated), Does Not Contain, Does Not Contain One Of (comma separated).
- For the Date field data format, the following operators will be available: Is Empty, Is Not Empty, Before, After, Inside Interval, and Outside Interval.
- Value: Change the value for the selected lead data field for the conditional expression for each individual condition. Note: The “Set Value” button will be displayed in the ongoing field by default. The possibility to enter the value itself will be available after selecting the data field type and condition.
- Action: Change the modifier to the base price if the set condition is met. (Increase, Decrease).
- Modifier %: Change the percentage for the Base Price modification. The maximum value of 1000% can be set if the “Increase” action is selected. The minimum value of 100 % can be set if the “Decrease” action is selected. Note: The modifier percentage ratio will be summed up by all rules and rules scopes for which the ser condition is met.
- Status: Change the ongoing status of the merged conditional rule (Active, Disabled).
- Comment: Change the additional comment attached to the rule for each individual condition.
Click the “Save” button to complete the ongoing changes for the merged rule.
Click the “Cancel” button to discard the ongoing changes for the merged rule.
To unmerge the combined conditional rules back to the original individual rules, click the “Unmerge” button in the “Actions” column. Confirm the rules unmerging by clicking the “Unmerge” button in the “Split rules” pop-up window.
Note: The original settings of the individual conditional rules were overridden by the merging settings and could not be retrieved to the original values after the unmerge operation.
To delete the merged conditional rule from the list, click the “Delete” button in the “Actions” column. Confirm the deletion operation by clicking the “Delete” button in the “Delete” pop-up window.
Example of the Bid Modifier merged Rule workflow
We have three individual Bid Modifier Rules created:
- The userIp parameter equals a specific value (specific IP address).
- The userAgent parameter should not be empty.
- The zip parameter equals a specific value (specific ZIP code).
We merged these three individual rules into one and created one rule where all conditions should be met simultaneously to activate the bid modifier.
The total percentage modifier applied to the merged Bid Modifier Rule is to increase by 100 %.
When the campaign receives a lead where the data from the specific lead fields meets the conditions set in the merged Bid Modifier Rule, the price for which the lead is purchased will be calculated as the Base Price increased by 100 %.
You can view this information in the Lead Settings tab of the Lead Details section as well.
How to check the Pricing Model workflow results in the Lead Body section
To view the information about the modifiers applied to the Base Price of the lead along with the summary bid modifier percentage ratio, go to the Publisher’s or Buyer’s Lead Details report, select the particular lead, and click the “Lead ID” button.
You will be redirected to the “Lead Info” section, where you need to select the “Lead Settings” tab.
The list of the applied modifiers along with the corresponding conditions will be displayed in the “Campaign Dynamic Modifiers” field.
The total percentage that will be applied to the Base Price of the lead will be displayed in the “Final Campaign Bid Modifier” field.
