{"id":110922,"date":"2022-07-12T16:36:01","date_gmt":"2022-07-12T16:36:01","guid":{"rendered":"https:\/\/www-dev.channeladvisor.com\/blog\/uncategorized-au-2\/what-walmarts-second-price-auctions-mean-and-how-to-win\/"},"modified":"2023-11-29T10:47:33","modified_gmt":"2023-11-29T10:47:33","slug":"what-walmarts-second-price-auctions-mean-and-how-to-win","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/au\/blog\/what-walmarts-second-price-auctions-mean-and-how-to-win\/","title":{"rendered":"What Walmart\u2019s Second Price Auctions Mean (and How to Win)"},"content":{"rendered":"<p><a href=\"https:\/\/corporate.walmart.com\/newsroom\/2022\/03\/30\/walmart-connect-building-meaningful-shopping-experiences-between-suppliers-our-customers\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Walmart is making big changes<\/span><\/a><span style=\"font-weight: 400;\"> to stay competitive with fellow e-commerce retail giants. One of its biggest announcements this past spring was the move to second-price auctions for PPC product ads. But under this model, the top bidder doesn\u2019t always pay the top price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what does this mean for your ad strategy and how can you stay competitive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bottom line is that things are about to get even better for Walmart Connect advertisers.\u00a0<\/span><\/p>\n<h2><b>What Are Second-Price Auctions?\u00a0\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A second-price auction is an ad bidding model where the top bidder pays $0.01 more than the second-highest bidder. Here\u2019s an example:<\/span><\/p>\n<p style=\"text-align: left; padding-left: 40px;\"><b>Bidder 1:<\/b><span style=\"font-weight: 400;\"> $7<\/span><br \/>\n<b>Bidder 2:<\/b><span style=\"font-weight: 400;\"> $6<\/span><br \/>\n<b>Bidder 3:<\/b><span style=\"font-weight: 400;\"> $5<\/span><br \/>\n<b>Winning bidder: <\/b><span style=\"font-weight: 400;\">Bidder 1<\/span><br \/>\n<b>Final price:<\/b><span style=\"font-weight: 400;\"> $6.01<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this example, bidder 1 wins because they bid the highest. But instead of paying a set ad amount, the advertiser pays $0.01 more than the next highest bidder.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Walmart Connect\u2019s algorithm accounts for one other factor beyond price \u2060\u2014 ad relevance. The media giant calls this model \u201cadvanced second-price auction.\u201d The platform first determines which competing ads are most relevant to the consumer\u2019s search. It then awards placement to the most relevant ad based on:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer\u2019s intent<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The ad\u2019s contextual relevance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The quality of item page content<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The product\u2019s historical performance at Walmart<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Under this advanced model, ad relevance carries more weight:<\/span><\/p>\n<p style=\"text-align: left; padding-left: 40px;\"><b>Bidder 1:<\/b><span style=\"font-weight: 400;\"> $7, 98% relevance<\/span><br \/>\n<b>Bidder 2: <\/b><span style=\"font-weight: 400;\">$7.50, 60% relevance\u00a0<\/span><br \/>\n<b>Bidder 3:<\/b><span style=\"font-weight: 400;\"> $5.50, 80% relevance<\/span><br \/>\n<b>Winning bidder:<\/b><span style=\"font-weight: 400;\"> Bidder 1<\/span><br \/>\n<b>Final price:<\/b><span style=\"font-weight: 400;\"> Somewhere between $5.50 and $7, depending on Walmart\u2019s algorithm<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The craziest part? It all happens in real-time within a matter of milliseconds.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s important to note that the winner never pays higher than their bid, ensuring they\u2019re always in control of their budget.\u00a0<\/span><\/p>\n<h2><b>How Does This Affect Advertisers?<\/b><\/h2>\n<p><a href=\"https:\/\/walmartconnect.com\/content\/dam\/wmg\/documents\/insight-articles\/2022\/2pa-blog-post\/Advanced-second-price-auction-guide.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Walmart says<\/span><\/a><span style=\"font-weight: 400;\"> the new auction model \u201chelps give advertisers the confidence to bid their best, with a reduced risk of overpaying.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Under this model, that means <\/span><b><i>a<\/i><\/b><span style=\"font-weight: 400;\"> lower cost-per-click (CPC) and a potentially higher return on advertising spend (ROAS).\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plus, the money you save between your bid and the final price can be applied to more ads. You\u2019ll also discover more about your competitors\u2019 bidding strategies, giving you an idea of how to win future auctions.\u00a0<\/span><\/p>\n<h2><b>What Strategies Win Second-Price Auctions?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Believe it or not, winning at second-price auctions is easier and more attainable than first-price auctions \u2014 but it does involve some risk in placing the highest bid. To thrive under Walmart\u2019s new model, you must:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Stay relevant. <\/b><span style=\"font-weight: 400;\">First and foremost, bid on terms that are relevant to your product. If you sell coffee mugs, bidding the highest on sock ads won\u2019t guarantee you a win.\u00a0\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Focus on fundamentals.<\/b><span style=\"font-weight: 400;\"> Keep product content accurate and up to date, matching taxonomy to the keywords you bid on. Ensure in-stock status to maintain customer satisfaction.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Set goals ahead of time. <\/b><span style=\"font-weight: 400;\">Know your limits. Set attainable goals and corresponding max bids to ensure you achieve important KPIs. <\/span><b>\u00a0<\/b><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Try bid multipliers. <\/b><span style=\"font-weight: 400;\">Multipliers let you designate a percentage amount you\u2019re willing to increase your bid, upping your chances of securing top placements.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Tailor bids. <\/b><span style=\"font-weight: 400;\">Bid lower on broad matches for widest audience reach and higher on exact matches for customers searching with intent.\u00a0<\/span><\/li>\n<li aria-level=\"1\"><b>Increase the budget. <\/b><span style=\"font-weight: 400;\">Consider increasing your daily budget cap during peak selling times to capture more sales when it matters most.\u00a0<\/span><\/li>\n<\/ul>\n<h2><b>How Can Rithum Help?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">PPC bidding, product pricing and advertising can be complex to manage in tandem. <\/span><a href=\"https:\/\/www.rithum.com\/au\/services\/managed-services\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Rithum Managed Services<\/span><\/a><span style=\"font-weight: 400;\"> is well-versed in Walmart-specific selling and advertising to help you meet your goals. We function as an extension of your team, combining our technology with marketplace expertise so you can focus on business strategy instead of manual changes. In addition to optimizing your bids, we also help you identify new audiences, track conversions and more.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.rithum.com\/request-a-demo\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Contact our team today<\/span><\/a><span style=\"font-weight: 400;\"> for a demo of the Rithum platform and a look at how Managed Services can supercharge your Walmart advertising strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Not yet selling on Walmart? Our Walmart experts can help you complete the <\/span><a href=\"https:\/\/go.rithum.com\/walmart\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Walmart Marketplace Seller application<\/span><\/a><span style=\"font-weight: 400;\"> and determine next steps. Just <\/span><a href=\"https:\/\/go.rithum.com\/sell-on-walmart-marketplace.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fill out this form<\/span><\/a><span style=\"font-weight: 400;\"> to get started.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart is making big changes to stay competitive with fellow e-commerce retail giants. One of its biggest announcements this past spring was the move to second-price auctions for PPC product ads. But under this model, the top bidder doesn\u2019t always pay the top price.\u00a0 So what does this mean for your ad strategy and how [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":88397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[12599,1517,12600,12417,12418],"asset-type":[13744],"audience":[13407],"bio":[14335],"topic":[5165,5153],"class_list":["post-110922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-ppc-au","tag-product-advertising","tag-second-price-auctions-au","tag-walmart-advertising-au","tag-walmart-connect-au","asset-type-blog-au","audience-brands-suppliers-au","bio-rithum-team-au","topic-digital-marketing-au","topic-marketplaces-au"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Walmart\u2019s Second Price Auctions Mean (and How to Win) - 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