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Why spend long time managing bids

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# 1
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Is it futile to delve too much into the innards of bid management ? Ultimately you do not have too much direct control over real time Ad auctions (apart from doing basics right and adhering to quality standards). So, in that sense will it not be good to check stats in the Adwords interface and care about bids only once in a while? Thanks in advance

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Accepted by topic author Ajay s
September 2015

Re: Why spend long time managing bids

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# 6
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I for example simply monitor the conversion volume weekly, if it has minus 20% fluctuations, then manual intervention is required, but mostly the conversion cost and volumes are within a +/- 10% weekly range.

 

Only when 2-3 new competitors appear on keywords with otherwise low competition, there is a need to monitor bids more often. 

 

Also if you need to keep your ad position somewhat constant you can use automated bids to lower and raise the bids according to the "avg. pos" metric for each keyword.

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Re: Why spend long time managing bids

Top Contributor
# 2
Top Contributor

Hi Ajay;

Well... I wouldn't say that you don't have control on the auction.


You don't have control over your competitor's startgy, but certainly on yours.
Adwords is a system which requires attention:  all of  its metrics: starting with bids, QS, match types, campaign structure, targeting, budget, etc... And of course the  ad-copy and  the landing page.

 

When you first  launch a campaign, it requires constant attention, and adjustments  until the campaign reaches a "steady state". Later on, you could check performance and adjust parameters less frequent, but it does require attention. 

-Moshe

Moshe, AdWords Top Contributor , Twitter | Linkedin | Community Profile | Ad-Globe
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Re: Why spend long time managing bids

Visitor ✭ ✭ ✭
# 3
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Thanks Moshe for answering, no doubt you have to pay attention, undivided. My question was more about doing too much of bid management. If you say yes, then my question would be when is it ideal to reduce bids, knowing fully well that there can be no one answer for this but still there must be certain scenarios that make bids something to care for..thanks

Re: Why spend long time managing bids

[ Edited ]
Top Contributor
# 4
Top Contributor

My method is first review all metrics, including QS - which directly affects the bid, - and when completing review all metrics, I decide whether to lower or higher the bid.

Moshe, AdWords Top Contributor , Twitter | Linkedin | Community Profile | Ad-Globe
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Re: Why spend long time managing bids

Badged Google Partner
# 5
Badged Google Partner
Ajays,

Bids should be defined by your ROI ( return on Investment). Having managed many client campaigns in many different verticals, it comes down to what brings in the profits.

Knowing that there are professional and even automated computerized Competition potentially in your "market" it is wise to keep a constant track on your bids, as well as the other facets of your campaigns Like @MosheTVL mentions.

I have experienced instances in some client campaigns that they only get clicks and conversions when they are in the #1 spot. I have other client situations in which the profit can only be achieved with a lower bid and landing in the 2-3 spot.

I have client campaigns that Kill it in Google Shopping but while at the same time don't do well bidding for the #1 spots. Shopping is shown above search ads and the shopping cpc's are in the $5 range when search clicks for #1 are in the $25 range.

I have some client campaigns with large budgets and I can blow out all the major competition in the first 2-3 hours by manipulating Bids and Bust their daily budgets.

I have some campaigns in which I have a Better USP ( unique selling proposition) that I display in my ads and are just as effective in #1 spot as I am in the #3 spot. So i reduce bids accordingly.

Since bids are a factor of Ad Rank, as well a CTR and QS, and ultimately a factor on traffic and cost of conversion it is something to be monitored, analyzed, tested, tweaked, and reviewed.

So basically to answer your question - You need to figure out what bid's bring in the best ROI, and what strategy you are using as well as keep a close eye on what your competition is doing.

Hope that helps
Marked as Best Answer.
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Accepted by topic author Ajay s
September 2015

Re: Why spend long time managing bids

Collaborator ✭ ✭ ✭
# 6
Collaborator ✭ ✭ ✭

I for example simply monitor the conversion volume weekly, if it has minus 20% fluctuations, then manual intervention is required, but mostly the conversion cost and volumes are within a +/- 10% weekly range.

 

Only when 2-3 new competitors appear on keywords with otherwise low competition, there is a need to monitor bids more often. 

 

Also if you need to keep your ad position somewhat constant you can use automated bids to lower and raise the bids according to the "avg. pos" metric for each keyword.

Re: Why spend long time managing bids

Visitor ✭ ✭ ✭
# 7
Visitor ✭ ✭ ✭
Thanks again Moshe, Eric and Adrian,....the question I put up has certainly proved one thing-that this community is a helpful lot indeed. The assortment of opinions, experiences and suggestions the community offers really opens up the vita of eager learners. Appreciate all your answers gentlemen, happy to learn....bye for now, only till I get a new one to ask!