As part of Bing's goal to evolve performance reporting using AI, Microsoft launches 'Performance Targets' to help advertisers set targets on their campaigns groups and track their performance.
In the dashboard, Bing Ads Performance Targets can show a forecast of how campaign grouping will perform against advertisers' designated targets. Here, advertisers can then be able to monitor how well actual performance stacks up against the forecast.
The feature is located in the left navigation menu in Bing Ads UI. To use it, advertisers can click on the 'Create performance target' and select the group of campaigns, choose a time period, and select up to three target metrics to track.
Advertisers can user selectors that include weekly, monthly, quarterly or custom spend, click, average cost-per-click targets and labels for groups of campaigns.
Once the advertisers launched a target, the 'Tracking status' column will notify them if their campaign group is 'On track' or 'Needs attention'.
Performance Targets enable advertisers to:
- Set weekly or monthly targets for spend, clicks, and cost per click (CPC) for groups of campaigns.
- Get a forecast of the campaign performance towards those targets.
- Check whether they are on track by comparing their targets to actual and forecast performance trends.
- Understand how each of their campaigns contributes to their performance targets.
- View history of their performance targets and period-over-period trends.
Advertisers can use this feature to keep track of their campaigns that share a goal, seasonality (holiday gifts, for example) or some other themes. Bing Ads' feature is somehow similar to Google Ads’ Campaign Groups, though it does not yet have the ability to track by conversion targets.
Performance Targets was demonstrated alongside Microsoft's first set of AI-powered features.
At that time, David Pann, GM of Microsoft’s Search Network, talked about the impact of AI on Bing Ads’ ability to innovate. Over the past several months, Bing Ads has introduced some other features, tools and products which are all powered by Microsoft's so-called "AII backbone."
And Performance Targets here is yet another example of Microsoft and Bing's focus to provide advertisers arrays of better tools to monitor, get reports and optimize their campaigns.