To help you understand how to optimise your advertising spend, it’s important to look at the times of day and days of the week when potential members are most likely to register and engage with the platform. Member activity is likely to vary depending on the network and territory.
Days of the week
By working out which day(s) of the week members are most active, you can forecast to spend more heavily on days that you know will achieve the best ROI. By spending less on the days you have a lower conversion rate and more on days when conversion is higher, you should increase your profit margin.
Remember to look at your Conversion Rate by Day, rather than at your Snapshot Conversion Rate. This is because your Snapshot Conversion Rate will show you everyone who has upgraded on that day - regardless of when they registered. In other words, it shows a blend of members who have registered and upgraded on the same day and members who might have registered a week ago and then converted on that day. Your Conversion by Day will only show you members who have registered and upgraded on the same day.
Looking at some sample data, we identified that Monday and Tuesday have the lowest conversion rate, while Saturday has the highest. Therefore, you should allocate more of your budget to spending on Saturdays and less to spending on Tuesdays.
While it’s important to allocate more budget to days when members are more active, it’s also important that you maintain momentum and continue to spend steadily across the rest of the week too.
Hours of the day
Across the General network, there are fewer members online during the early hours of the morning. You should adjust your bids to cater to this so that the bulk of your advertising spend is allocated to the most profitable times.
Members have the highest propensity to pay between 9am to 12pm and 4pm to 10pm so be sure to increase your bids around these times.
When you’re posting on social media during UK hours, it could be the middle of the night in the USA or Australia. Therefore it’s important that you schedule tweets that will reach audiences in all different time zones throughout their day.
To find out more about when to advertise or for any help with your bidding strategy, please get in touch with your Partner Manager.