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Bid management

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# 1
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Hi,

 

I would like to know your expert opinion about the following situation related to bid amends.

 

We are running search campaigns for an ecommerce website and margins are very sensitive. Our profitable CPA is under £11 but it jumps over it quite easily. 

 

We are trying to optimize the account on long terms but meanwhile we need to do something to keep this CPA under control. 

 

I appreciate that we need days of data to make bid decissions but is it ok to tweak bids (when they are too high) in a daily/two days basis in this scenario? Any other recommendation?

 

Many thanks in advance

1 Expert replyverified_user
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Marked as Best Answer.
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Accepted by topic author Verónica R
July 2016

Re: Bid management

Rising Star
# 4
Rising Star
Okay, there are my thoughts with your new data you've added:
#1 - It sounds like this may be a good opportunity too look into AdWords Dimensions [ Dimensions -> Time -> Day of Week ] or Universal Analytics to see if there's an overall correlation between day of week and conversions.

#2 - If you have various products with various ROIs and Conv. Rates you can still use Custom Bid Strategies but apply them on an individual Campaign or Ad Group level (depending on how you've structured you're account).

#3 Take an even deeper dive an look for correlations when it comes to Geo location.

#4 Lastly examine you're targeting settings. If you're using Keyword Targeting and want a more stable cost/conv. sometimes removing the broad keywords will help but the trade off is that you may cut down on the quantity of conversions.

Also, just thought of this but improve your ads. Make sure your ads DISQUALIFY people who are irrelevant to your product. If you're targeting used cars for example but are only selling a specific car company brand then you don't have to use a more specific keyword but rather include in the ad copy the name of the car company to prevent uninterested clicks.

Hope this helped more.
Joshua, Rising Star
Was my response helpful? If yes, please mark it as the ‘Best Answer.’

View solution in original post

Re: Bid management

Rising Star
# 2
Rising Star
Hey Veronica,

I would recommend that with your current limited conversion data that you focus on another type of 'Custom Bid Strategy' (found in 'Shared Library').

You can try out 'Top Page Result' or 'Target Outranking Share' to make sure you're keeping a competitive edge (especially now with AdWords changes in advertising space).
https://support.google.com/adwords/answer/2979071?hl=en

When you have enough conversion data ready I would suggest you consider the bid strategy 'target return on ad spend (ROAS)' which seems exactly what you're looking for at the moment.
https://support.google.com/adwords/answer/6268637

Hope this helped!
Joshua, Rising Star
Was my response helpful? If yes, please mark it as the ‘Best Answer.’

Re: Bid management

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# 3
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Hi,

Many thanks for your answer!

Actually we have good amount of conversion data. We are having aprox 80
conversions per day and we have been running the account for several
months, however, it is quite difficult to keep CPA under control. We have a
wide range of products and sales are fluctuant (today we can sell 3 x
products but none tomorrow)



--
Verónica
Marked as Best Answer.
Solution
Accepted by topic author Verónica R
July 2016

Re: Bid management

Rising Star
# 4
Rising Star
Okay, there are my thoughts with your new data you've added:
#1 - It sounds like this may be a good opportunity too look into AdWords Dimensions [ Dimensions -> Time -> Day of Week ] or Universal Analytics to see if there's an overall correlation between day of week and conversions.

#2 - If you have various products with various ROIs and Conv. Rates you can still use Custom Bid Strategies but apply them on an individual Campaign or Ad Group level (depending on how you've structured you're account).

#3 Take an even deeper dive an look for correlations when it comes to Geo location.

#4 Lastly examine you're targeting settings. If you're using Keyword Targeting and want a more stable cost/conv. sometimes removing the broad keywords will help but the trade off is that you may cut down on the quantity of conversions.

Also, just thought of this but improve your ads. Make sure your ads DISQUALIFY people who are irrelevant to your product. If you're targeting used cars for example but are only selling a specific car company brand then you don't have to use a more specific keyword but rather include in the ad copy the name of the car company to prevent uninterested clicks.

Hope this helped more.
Joshua, Rising Star
Was my response helpful? If yes, please mark it as the ‘Best Answer.’

Re: Bid management

Follower ✭ ✭ ☆
# 5
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Hi Joshua,

Many thanks for your answer, really useful.

Is there anything I can do on a daily basis to avoid jumps of the CPA? At the moment I am tweaking some bids when an specific CPA is getting too high.