What is the most effective way to determine the optimal bidding strategy for a new Walmart Sponsored Products campaign?

The most effective way to determine the optimal bidding strategy for a new Walmart Sponsored Products campaign is to start with a conservative manual bidding approach, closely monitor performance data, and then incrementally adjust bids based on observed results. Initially, research suggested bids for relevant keywords within the Walmart platform and set your manual bids slightly above those suggestions to ensure ad visibility. Then, diligently track key metrics such as impressions, clicks, conversion rate, and ACoS (Advertising Cost of Sales) over a period of at least one to two weeks. If a keyword is generating a high number of impressions and clicks but a low conversion rate and a high ACoS, gradually lower the bid for that keyword. Conversely, if a keyword is performing well with a positive ACoS and a healthy conversion rate, incrementally increase the bid to capture more traffic. After gathering sufficient data and identifying trends, consider transitioning to an automated bidding strategy like 'Enhanced CPC' which automatically adjusts bids based on the likelihood of conversion. However, it's crucial to continue monitoring performance and make adjustments as needed, as automated strategies may not always be optimal for every product or keyword. The initial manual bidding phase is crucial for establishing a baseline and understanding how different keywords perform before relying on automation.