PPC bid management can be intimidating at first. There are so many different factors to take into consideration that it can be difficult to know where to get started. Here are a few of the essentials of PPC bid management.
Common Bid Types
For those of you who are brand new to PPC bidding, you should be familiar with two bid types, and the advantages of each:
• Cost-per-click bidding (CPC)––With this type of bidding, a price limit is set on your ad each time it’s clicked. With CPC the advertiser only pays when someone clicks on his or her ad. This is a great method to use when you have clear direct response objectives (e.g., driving traffic to your website in order to sell a product).
• Enhanced cost-per-click (ECPC)––This powerful tool is a new bidding option to AdWords. Basically, AdWords analyzes user-behavior and makes an estimate. It will bid on clicks for auctions with the highest predicted conversions. This is a hybrid of CPA and CPC bidding. While you’re still responsible for setting your CPC bids, ECPC AdWords will automatically raise your bids by 30% if it anticipates the click is more likely to lead to a conversion.
Automating Your Campaigns
Manual bid management can take some time to learn in AdWords, but it offers a level of hands-on control and close-up insight that automated bid management platforms don’t always provide.
The most common ways to manage your bids manually are:
1) In the AdWords Editor, and;
2) In the Interface.
Both Bing and Adwords offer tools to make these types of manual changes. For any bid change on more than a few keywords, use Excel so that you have a record of the data and your changes to refer back to later.
AdWords provides a great new bulk-editing tool that allows users to raise all their CPCs to first page bid status by whichever percentage increment they specify.
If you’re seriously pressed for time, you’re generating tons of traffic and clicks, or you want to avoid managing your bids manually, you can always invest in an automated bid management system (either web based or a PC based software program). This will significantly lighten your workload. Automated bid management is a viable strategy for affiliate marketers because there are a lot of quality, time-saving solutions available to choose from.
Here are three popular automated bid management tools:
Marin (posts ad campaigns on search engines)
Aquisio (campaign management tools that offer racking, managing, and optimizing utilities for many search engines)
Wordstram PPC Advisor (creates and manages ad campaigns)