Do you Think Bid Management is Simple? Think Again...
On the surface PPC bid management seems to be about reducing bids for keywords that do not hit your targets and increasing bids for those that do. The reality though is far more complex.
It is quite possible that the fundamental objective of your PPC (Pay per Click) campaigns is to drive the most relevant traffic to your site. It is also quite likely that you want these searchers to take certain actions on your site that add value to your marketing and sales efforts. These actions or conversions can be a sale/purchase, a whitepaper download, a form fill etc...
Needless to say each of these actions has a different level of importance to your business; therefore investing the same amount of your budget to acquire all these different conversions does not make sense. Meaning, having the same cost per conversion/cost per acquisition for all keywords that drive these conversions does not make business sense. Accordingly, the bid management for such keywords cannot be governed by a blanket bidding strategy.
As you develop your bidding strategy it is important to keep in mind that search engines have a major role to play in the bid price you pay and in turn your keyword ranking. Let's take Google for example. Today Google determines the actual cost of your keywords with a series of complex calculations including Quality Score, Cost per Click (CPC), relevancy of your landing pages etc. only further making the bid price assignment more complex.
Combine this complexity with the sheer volume of keywords you need to manage. How confident are you of the CPCs you picked for your keywords? How well positioned are you to manage your keywords in today's complex and dynamic search space? Attempting to even calculate an accurate keyword bid price manually can be a daunting task. But a sophisticated automated way of managing bids can help maximize your time as well as your marketing ROI.
Position²'s AutoBid Engine™
At Position2 we have developed a sophisticated AutoBid Engine™ to dramatically improve performance across our clientele. The AutoBid Engine™ is designed to accurately manage bids for individual keywords to achieve your ROI objectives. This is virtually impossible on manual and rule based bid management systems.
Reasons why you should consider Position²'s AutoBid Engine™:
- This proprietary tool is designed on a prediction model, one that can, based on your historic performance, forecast and recommend optimal bid prices down to an individual keyword level.
- Our technology is especially useful when your campaigns have multiple conversions, each of whose importance is different for your business. Using this tool you can custom define the weight for each conversion and let the system optimize your campaigns.
- The advanced algorithms emulate the search engine bid environment on a real-time basis and assess if your campaigns are performing at the optimal potential. Appropriate decisions are made based on the findings and your goals.
- The automated platform also allows campaign managers to expand keywords exponentially. It helps discover keywords fast and efficiently.
Your gains from the AutoBid Engine™:
- A customized tool for your business/industry to maximize results on your marketing investments per your ROI requirements.
- Increase in market share and profitability by predictably estimating and scaling up paid search campaigns to adapt to your marketing goals.
- Save time in managing complex campaigns with hassle-free integration of bidding and reporting engines.
Complexity with the search engine algorithms is here to stay and so is the uncertainty with users' actions on your site, i.e. uncertainty about most of your keywords performance. A marketer who has found the right way to work with these forces is more likely to be successful in his/her PPC efforts compared to those who make decisions based on short term and on inadequate or unclear keyword data.
Your employees can be expected to make best decisions with the experience and knowledge they have. But to best utilize their expertise you need the right tools. Having Position²'s AutoBid Engine™ on your side means just that. With its unique algorithm it is designed to cater to every unique need of your business and to help you maximize returns from your PPC campaigns.