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Keyword Bidding Strategies That Will Give You the Most Bang for Your Buck

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. 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. 2. #thinkppc Your Host! Carrie Albright – Account Manager at Hanapin Marketing – Blogger on PPC Hero – @Albright_C
  3. 3. #thinkppc Join the conversation • Include the hashtag #thinkppc in your Twitter tweets.
  4. 4. #thinkppc Overview I. What does “Bidding Strategy” mean? II. Google’s Bidding Strategies III. Bing’s Bidding Strategies IV. General Tips
  5. 5. #thinkppc Bidding Strategy Defined I. What does “Bidding Strategy” mean?
  6. 6. #thinkppc Bidding Strategy Defined Why identify a bidding strategy? Automated versus Manual bidding Max CPC Bid = Conversion Rate * Target Cost per Conversion
  7. 7. #thinkppc Bidding Strategy Defined Bidding for branding
  8. 8. #thinkppc Bidding Strategy Defined Bidding for Direct Response
  9. 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. 10. GOOGLE #thinkppc BIDDING STRATEGIES
  11. 11. Google Bidding Strategies A. CPA bidding and Conversion Optimizer #thinkppc B. Flexible Bidding Strategies C. Automated bid rules
  12. 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. 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. 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. 15. Google Bidding Strategies #thinkppc B. Flexible Bidding Strategies From the Shared Library Within the interface
  16. 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. 17. #thinkppc Do we use it? Example: Branded + High Competition Keywords
  18. 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. 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. 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. 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. 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. 23. #thinkppc Do we use it? Example ROAS breakout.
  24. 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. 25. #thinkppc Do we use it? On occasion…
  26. 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. 27. Google Bidding Strategies #thinkppc C. Automated bid rules
  28. 28. Google Bidding Strategies #thinkppc C. Automated bid rules – Top of Page
  29. 29. #thinkppc Do we use it? All. The. Time.
  30. 30. #thinkppc Do we use it? Seriously, all the time.
  31. 31. #thinkppc Bidding Strategies Bing
  32. 32. #thinkppc Bing Bidding Strategies III. Bing’s Bidding Strategies A. Flexible bidding tools B. Bidding Landscape tool
  33. 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. 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. 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. 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. 37. #thinkppc Bing Bid Landscape Tool B. Bidding Landscape tool Mainline impressions, meaning above organic results.
  38. 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. 39. #thinkppc Bid Modifiers Device Geo Targeting Dayparting
  40. 40. #thinkppc Bid Modifiers Device
  41. 41. #thinkppc Bid Modifiers Geo Targeting
  42. 42. #thinkppc Bid Modifiers Dayparting
  43. 43. External Conversion Tracking #thinkppc B. External conversion integration (ROAS, call tracking, etc)
  44. 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. 45. #thinkppc CPL MATRIX Cost-per-lead or Cost-per-acquisition = Amount you seek to pay per online conversion
  46. 46. #thinkppc Segmentation Daily, weekly, or monthly performance Google Search versus its Search Partners Keyword performance by desktop, tablet, and mobile device
  47. 47. #thinkppc Google Analytics Google Analytics provides performance on the keyword level, including session details such as Bounce Rate and Session Duration
  48. 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. 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. 50. #thinkppc Live Q&A Time!
  51. 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

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