Keyword Bidding Strategies That Will Give You the Most Bang for Your Buck
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Paid search bids are among the core building blocks to a successful account. Because they are one of the many fluid parts of day-to-day performance, it is integral that we understand what bidding strategies are most suited for, for our individual needs. This live webinar, will teach you distinct strategies that are most applicable to account types, as well as the details of what bidding options are available. This presentation not only assists in identifying one's best bid strategy, but also demonstrates how to implement them. Benefits for You - You will learn how to approach bidding based on your industry - You will learn what bidding options are currently available - You will learn how to implement these strategies in Google® and Bing® - You will learn how to integrate additional metrics into your bid strategy - You will learn general best practices for bid maintenance
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Keyword Bidding Strategies That Will Give You the Most Bang for Your Buck
- 1. How to Recover from the Holidays Faster Than Your Competition #thinkppc HOSTED BY: HOSTED BY: Keyword Bidding Strategies That Will Give You The Most Bang For Your Buck
- 2. #thinkppc Your Host! Carrie Albright – Account Manager at Hanapin Marketing – Blogger on PPC Hero – @Albright_C
- 3. #thinkppc Join the conversation • Include the hashtag #thinkppc in your Twitter tweets.
- 4. #thinkppc Overview I. What does “Bidding Strategy” mean? II. Google’s Bidding Strategies III. Bing’s Bidding Strategies IV. General Tips
- 5. #thinkppc Bidding Strategy Defined I. What does “Bidding Strategy” mean?
- 6. #thinkppc Bidding Strategy Defined Why identify a bidding strategy? Automated versus Manual bidding Max CPC Bid = Conversion Rate * Target Cost per Conversion
- 7. #thinkppc Bidding Strategy Defined Bidding for branding
- 8. #thinkppc Bidding Strategy Defined Bidding for Direct Response
- 9. #thinkppc Bidding Strategy Defined C. Lead generation bidding versus E-commerce bidding Lead Gen E-commerce Contact Form Online purchase E-mail sign up Request a Quote E-mail Sign up Free Trial Shopping Club sign up
- 10. GOOGLE #thinkppc BIDDING STRATEGIES
- 11. Google Bidding Strategies A. CPA bidding and Conversion Optimizer #thinkppc B. Flexible Bidding Strategies C. Automated bid rules
- 12. Google Bidding Strategies #thinkppc A. CONVERSION OPTIMIZER This features uses Google’s understanding of your account performance history to dynamically adjust your bids for you ensure that your ads are in front of the optimal audience. REQUIREMENTS: Track conversions through AdWords, cross-account tracking, or Google Analytics. Minimum of 15 conversions in the last 30 days per eligible campaign. Conv. Opt. will override any other bid rules, except a mobile bid of -100%
- 13. Google Bidding Strategies #thinkppc A. CPA Bidding Target Bid: Maximum Bid The amount you’re willing to pay per click The maximum you’d ever want to pay per click The Difference: Google will base it’s bid variation on the distinct restrictions you request.
- 14. Google Bidding Strategies #thinkppc B. Flexible Bidding Strategies i. Maximize Clicks ii. CPA iii. Enhanced CPC iv. Search page location v. Return on ad spend
- 15. Google Bidding Strategies #thinkppc B. Flexible Bidding Strategies From the Shared Library Within the interface
- 16. Google Bidding Strategies #thinkppc i. Maximize Clicks In this scenario, you give AdWords the reins, with the option to cap the bid. The goal is maximizing your click volume, operating within the constraints of MAXIMUM BID or TARGET SPEND
- 17. #thinkppc Do we use it? Example: Branded + High Competition Keywords
- 18. Google Bidding Strategies #thinkppc ii. CPA bidding (see Conversion Optimizer) Focus on conversions at a specific cost-per-acquisition AdWords uses the conversions history allows AdWords to predict future conversions. Available at campaign and ad group level only
- 19. #thinkppc Do we use it? Yes, often. Of our agency’s highest volume accounts, about ½ of them are using Conversion Optimizer or CPA bidding tools Ex 1. CPA bid-enabled campaigns rank #3 & #4 in conversion volume (lead gen) Ex 2. The Display Conversion Optimized* campaign receives twice the conversion volume as the next highest converting campaign (lead gen) Ex 3. Conversion Optimized BMM campaign generates greater volume than non-CO broad campaign, less than Exact (e-comm) Ex 4. Multiple CPA-targeted campaigns generating slightly less conversion volume than other similar campaigns (lead gen)
- 20. Google Bidding Strategies #thinkppc iii. Enhanced CPC (eCPC) Bidding Allows Google to adjust your bids for you, using non-adjusted performance data as a baseline. Available at campaign, ad group, and keyword level
- 21. #thinkppc Do we use it? Sure do . 1. Set to run for desired timeframe 2. After 30 days, request data from Google. 3. After timeframe concludes, decide if your performance warrants utilizing eCPC.
- 22. #thinkppc iv. Return On Ad Spend (ROAS) Based on value per conversion and cost data. Requires . 30 conv in 30 days Available for keywords, ad groups, and campaigns Google Bidding Strategies
- 23. #thinkppc Do we use it? Example ROAS breakout.
- 24. #thinkppc v. Search page location NOTE: This feature allows you to aim for “top” or “first page” but not specific ranks, due to the dynamic nature of the auction system. Google Bidding Strategies
- 25. #thinkppc Do we use it? On occasion…
- 26. Google Bidding Strategies #thinkppc C. Automated bid rules Choose the keywords you’d like to set a rule for (Pro Tip: If based on a particular metric, set a Filter for that range of performance)
- 27. Google Bidding Strategies #thinkppc C. Automated bid rules
- 28. Google Bidding Strategies #thinkppc C. Automated bid rules – Top of Page
- 29. #thinkppc Do we use it? All. The. Time.
- 30. #thinkppc Do we use it? Seriously, all the time.
- 31. #thinkppc Bidding Strategies Bing
- 32. #thinkppc Bing Bidding Strategies III. Bing’s Bidding Strategies A. Flexible bidding tools B. Bidding Landscape tool
- 33. #thinkppc Bing Bidding Strategies A. Flexible bidding tools From the mouth of Bing: . Search and Display bids are separate for each keyword . Keyword level bid on top of ad group level bid. . Bid on individual keywords based on how closely a search query matches your keyword, using match types. . Use suggested bid amounts to help meet a specific placement on the page. . Set incremental bids if the user meets one or more of your targeting criteria.
- 34. #thinkppc Do we use it? Pt 1 Not often. There often isn’t a strong argument for combining Search & Display/Content targeting. Common practice is to segment them by campaign, instead. . Search and Display bids are separate for each keyword
- 35. #thinkppc Do we use it? Pt 2 . Use suggested bid amounts to help meet a specific placement on the page. We may use this feature, but often just as a guiding hand, not a full on rule.
- 36. #thinkppc Do we use it? Pt 3 . Set incremental bids if the user meets one or more of your targeting criteria. Sure do. Daypartin g and Device bidding are an important part of targeting!
- 37. #thinkppc Bing Bid Landscape Tool B. Bidding Landscape tool Mainline impressions, meaning above organic results.
- 38. #thinkppc General Common Practices IV. General Tips A. Bid Modifiers B. External conversion integration (ROAS, call tracking, etc) C. Bid change common practices
- 39. #thinkppc Bid Modifiers Device Geo Targeting Dayparting
- 40. #thinkppc Bid Modifiers Device
- 41. #thinkppc Bid Modifiers Geo Targeting
- 42. #thinkppc Bid Modifiers Dayparting
- 43. External Conversion Tracking #thinkppc B. External conversion integration (ROAS, call tracking, etc)
- 44. #thinkppc General Common Practices CPL Matrix Segmentation Allow Google Analytics to tell you more about your data Resist multiple layers of bidding Automated Rules + Bid Strategies + Bid Modifiers = Muddy Data
- 45. #thinkppc CPL MATRIX Cost-per-lead or Cost-per-acquisition = Amount you seek to pay per online conversion
- 46. #thinkppc Segmentation Daily, weekly, or monthly performance Google Search versus its Search Partners Keyword performance by desktop, tablet, and mobile device
- 47. #thinkppc Google Analytics Google Analytics provides performance on the keyword level, including session details such as Bounce Rate and Session Duration
- 48. #thinkppc Multiple Layers Geo-targeted region with great performance = 150% Nights & weekends with low customer support = -25% Poor mobile experience on website = -90% 0.1 1.5 0.75 1.5 x 0.75 x 0.1 = ~0.1125 ?
- 49. #thinkppc Summary I. You must work to identify your own bidding strategy II. Google’s Bidding Strategies III. Bing’s Bidding Strategies IV. General Tips In PPC, “it depends” is the constant answer to each question. The true step in answering the question is identifying your goals, your targeting, and the component of your account, such as your keywords and bids, that impact your outcome.
- 50. #thinkppc Live Q&A Time!
- 51. #thinkppc Have more questions? Thank you for attending the webinar! #thinkppc • Get a free Solutions Blueprint from Hanapin Marketing (for accounts greater than $20K/mo in adspend): http://www.hanapinmarketing.com/solutions-blueprint/ • Or Contact us Directly: • Webinar Feedback: marketing@hanapinmarketing.com
Hinweis der Redaktion
- Kayla
- Kayla
- Kayla
- What does that mean and why do we care? Where do you start? How often do you need to really reassess your strategy?
- Auto-bidding will bring you the most number of clicks Google can get from your campaign daily budgets. This works by making bid adjustments for you that bring you cheaper clicks. You might use these strategies in accounts with limited conversion data, where you aren’t tracking anything other than website visits. It can be helpful when you’re drastically pulling back budgets in campaigns with high lost impression shares due to budget. The danger is that auto-bidding will buy in lower quality cheap clicks – even if you aren’t tracking conversions, phone calls or in store visits might drop off by removing a highly motivated part of your audience that were coming in from the higher CPC keywords.
- To identify your plan of action, you need to know your goal. Are you intended to simply generate traffic? Is there a conversion goal you’re striving for? Is there a degree or type of engagement you’re seeking to foster,? Branding: Impressions, Clicks, CTR, or even time on site
- Conv rate, IUC, How far they went through conversion process.
- Lead gen: Can be branding. May include phone calls. Often the CPL goal is applied across the account as a whole where all campaigns and keywords are created equal. E-comm: Can be branding, too. May include calls, but might also include a different conversion type in general (sign ups, etc). CPA might depend on the product or product line. You may base your adjustments on ROAS or ROI instead of the CPL, as each product may have a distinct profit.
- Google has tools that it wants you to use. 2 prong: It’s taking a little of the control out of your hands. But it’s also putting it into the hands of the Wizard of Oz. There is SO MUCH behind their curtain that we can’t see, sometimes it’s good to trust that their knowledge and understanding of what users are doing.
- Conversion Optimizer: It helps you avoid unprofitable clicks and get more conversions at lower costs. Cannot use with Google Shopping. RLSA will use CO settings but based on the remarketing list users. Other bid adjustments will be overridden, except -100% mobile. All the others will just be ignored. Short term or long term solution? In theory, long term. It’s extremely responsive, so there are times when it stops providing amazing performance now and again. The goal is to pull back but not stop it entirely, as the entire CO algorithm is based on knowing what your most profitable clicks right at this moment.
- CPA bidding: http://searchenginewatch.com/article/2303776/Google-AdWords-Bidding-Strategies-The-Complete-Guide What does it mean? When are you eligible. Short term or long term?
- MAX BID LIMIT: The highest max. CPC bid you want AdWords to set for any keywords, ad groups, campaigns using this bid strategy. Why it matters: The maximum bid limit allows you to have more control over the max. CPC bids set. Good to know: To maximize the benefit of this bidding strategy, we recommend not setting a bid limit. Doing so can restrict AdWords' automatic optimization of your bids. Note: Bid limits will be used in Search Network auctions only. TARGET SPEND: Target spend is the amount you’d like to spend each day on all of the keywords, ad groups, and campaigns that use this bid strategy. How it works: Your target spend amount is distributed across any entities that share a bid strategy, which could span multiple campaign daily budgets. The AdWords system attempts to spend this amount to get as many clicks as possible. Keep in mind: If you don’t specify a target spend, AdWords attempts to meet your bid automation goals while staying within your daily budget(s). If you set a target spend that’s higher than your daily budget, your total spend for each campaign will be capped by its daily budget (subject to standard overdelivery). Good to know: You can view the bids that the AdWords system is setting on your behalf in the “Max CPC” column.
- When you select Enhanced CPC, Google starts running experiments on all your bids, increasing or decreasing them depending on the likelihood that your ad will convert. If the experiment improves things, Google will run with the new Enhanced CPCs rather than your default. Think of it like the Conversion Optimizer but with a little more control over the range of your bids on each keyword. We haven’t always had success with Enhanced CPCs, but they tend to work better for accounts where the owner doesn’t have enough time to optimize bids regularly.
- Return on ad spend (ROAS): AdWords predicts future conversions and values based on conversion values advertisers set up. To target ROAS 30 conversions in 30 days is required. Used for Search Network only or the Search and Display Networks. AdWords will try to reach the ROAS targets across all keywords, ad groups, and campaigns
- Sneaky Google. Provide screengrabs of all the options and a walk through of how you opt in to these. Do we trust it? How refine do we get
- Writing a rule. Why might you want to do this? Link to blog post in article for additional resources. Show how I might create an rule and where to see it working.
- Writing a rule. Why might you want to do this? Link to blog post in article for additional resources. Show how I might create an rule and where to see it working.
- Writing a rule. Why might you want to do this? Link to blog post in article for additional resources. Show how I might create an rule and where to see it working.
- Explain difference
- Explain difference
- Estimated bids represent the average historical cost per click (CPC) paid. Average CPC is based on the following formula: maximum CPC × CTR (that is, cost per click multiplied by click-through rate). The tool cannot predict actual market conditions, and there is no guarantee that the estimated bids will place your ad in the estimated position. To activate changes that you make in Bing Ads Editor, you must post them to your Bing Ads online account.
- Explain how this is just like Google. No biggie. AND currently it’s not available at the keyword level or at ad group level. JUST CAMPAIGN.
- Note: you can’t always adjust your bids in the interface based on your conversion data. If you track multpiple conversions in Google, for example, when segmented by conversion type you won’t see the conversion-specific clicks, impressions, or other useful metrics. To remedy this and get greater insight on your performance, Google Analytics is a source of all sorts of useful data. Option 1: Use Adwords data IN analytics Option 2: Use Analytics data to give major themes for changes Common practices: Set your CPA threshold. Develop your acceptable ranges. Wait for significant data to come through. Know your stacking techniques
- Bid modifiers fall into several categories: Device, geo targeting, and dayparting. Both Bing and Google have pretty clearly defined options for bid modifiers or adjustments. These are set at the campaign level, which means any specifics you want to apply to keywords must be done in a very carefully built campaign. One example is a set of keywords that perform for a designated region. By creating a campaign specific to this region, with either targeting or even bid adjustments to these areas, you can push for optimized keyword performance
- Bid modifiers fall into several categories: Device, geo targeting, and dayparting. Both Bing and Google have pretty clearly defined options for bid modifiers or adjustments. These are set at the campaign level, which means any specifics you want to apply to keywords must be done in a very carefully built campaign. One example is a set of keywords that perform for a designated region. By creating a campaign specific to this region, with either targeting or even bid adjustments to these areas, you can push for optimized keyword performance
- Geographic: Your Geographic data shows your customers' physical locations or locations that they had shown interest in through searches on Google or Google Maps. User location: Your User Location data shows only your customers' physical locations, regardless of any locations they may be interested in.
- Using heatmaps allow for you to identify what days and hours are your best investment and what are least cost-effective. Then, based on their proximity to your desired CPL, you can implement bid adjustments
- Note: you can’t always adjust your bids in the interface based on your conversion data. If you track multpiple conversions in Google, for example, when segmented by conversion type you won’t see the conversion-specific clicks, impressions, or other useful metrics. To remedy this and get greater insight on your performance, Google Analytics is a source of all sorts of useful data. Option 1: Use Adwords data IN analytics Option 2: Use Analytics data to give major themes for changes
- Common practices: Set your CPA threshold. Develop your acceptable ranges. Wait for significant data to come through. Know your stacking techniques and don’t overstack unless you want to drive yourself crazy trying to calculate the exponential bid changes that will result.
- Kayla