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How often should I change bids

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# 1
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Hi All,

 

I was wondering what everyone's thoughts are on how frequently you should be changing bids.

 

I recently attended an exhibition where I was told that bids should be changed everyday and that I should be using some kind of bid management software in order to do this?

 

Up to now I have been changing bids as and when I feel they needed it along with doing weekly and monthly reviews on keywords performane.

 

Should I be looking to start changing bids daily?

 

Thanks for any advice you can offer Smiley Happy

 

Laura

4 Expert replyverified_user

Re: How often should I change bids

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# 2
Top Contributor

Hello Laura,

 

It is definitely an advantage if you can do some sort of bid tweaking on a daily basis. You first need to recognise your marketing goals and identify which ad positions will generally help you achieve these goals, whether it be building a brand image or generating sales via your website. Reviewing past information will assist you in making these decisions and give you an idea of what ad positions need to be maintained, improved or decreased.

 

Costs and budget also need to be taken into consideration as you edit these bids. You might find that higher ad positions do generate sales but at an undesirable cost per conversion which results in your budget being exhausted without achieving a ROI. It is important that you get this balance throughout the day and is therefore a good reason to closely monitor and change the bids as often as you see fit.

 

Kind regards,


ScottyD, AdWords Top Contributor
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Re: How often should I change bids

[ Edited ]
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# 3
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Hello, Laura.

 

In order to perform any change, you should have statistically significant data to base your decisions upon. So, in my view, such a tool should act upon signals such as the ones used in the Intelligence Alerts in Google Analytics (variation in traffic, cost, whatever).

 

Not every day, not every hour, not every week, but rather when there is a reason to change those bids. If there are such tools, which measure all sort of signals AdWords records, and if that tool can be set to target, for instance "as many impressions as possible", or "as many clicks", or, more interestingly, higher ROI, as Scott said, then maybe you could benefit from them. But changing bids every day based on something not yet significant is a bit too much, in my view.

 

However, make sure to factor in the following:

- the cost of those tools (big guns charge monthly fee plus percentage of ad spend)

- the cost of learning the ropes for those tools (time spent in training and maybe cost of training)

 

And, of course, do not forget AdWords' own CPA bidding, where you can specify how much you're prepared to pay for a conversion, and which takes care of selecting the right impressions for you.

 

My 2 cents.

Calin Sandici, AdWords Top Contributor | Find me on: Google+ | Twitter | LinkedIn | myBlog
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Re: How often should I change bids

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# 4
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Hi LauraBburn,

 

One other thought I had regarding this would be to explore Automate Rules for bidding adjustments.  As the previous posters mentioned, you first need to identify when/why you would want to be making bid adjustments but once you do, you may be able to make use of the built in automated rules functionality to help you with this. Its worth exploring before committing to a 3rd party system.

 

-Tom

 

Tommy Sands, AdWords Top Contributor | Community Profile | Twitter | Philly Marketing Labs
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Re: How often should I change bids

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# 5
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Hi Laura,

 

AdWords is a very complex system and works differently for each advertiser. If anyone tells you "All AdWords accounts should do this", they are probably wrong. There is no one size fits all.

 

I would venture to guess the exhibition you attended included vendors of bid management software and the person giving you that advice was trygin to sell you something you might not need.

 

All this depends on the size of your AdWords account. If you have hundreds of campaign with thousands of keywords, bid management software could help. If you have a small web site selling a limited number of products, you might be better off manually reviewing your data and adjusting your bids as needed. For me and my small account, that is once a week or less.

 

Best of Luck!

 

Pete

 

petebardo -- Deadhead doing AdWords