Bid management is a regular process and is done to ensure proper positioning of the keywords in the sponsored listing. There are following steps that need to be followed for bid management:
1. The frequency of doing bid management varies from nature of products and services advertised. If the product has lots of competitors then bid management need to be done regularly in 2-3 days, but if the product is of unique nature and has very less competitors then bid management can be done within 6-7 days because chances of fall in position are very rare in such cases. Keeping a track of competitors is supplementary work for doing bid management.
2. For knowing the level of competition in market for the keywords pull a keyword report check the positions, if the keywords are showing above 15th to 20th position then there is high competition for such keyword. It can be checked by simply entering the search query on search engine and see who all are marketing their product on the keyword. If they are direct competitors then such keywords need to be monitored more frequently and if they are not direct competitors but offer products which are somehow related to our products then we need to narrow down the searches of such keyword by adding negative keyword in the adgroup or adding certain keywords in exact match type.
3. Start with pulling a keyword report of previous day. Keyword report returns the average position of all the times when a keyword gets impression. Taking recent data is a good practice for bid management.
4. Sort the report with average positions.
5. 1st to 4th position is the most noticed position so whatever is below 4th position need to be optimized.
6. Increase 50%-60% bid on the keywords that are showing above 20th position.
7. Increase around 30% - 40% over the current bid on the keywords that are 10th to 20th position.
8. Increase bids by 10% - 20% for the keywords showing from 4th to 10th position.
9. Keep checking the positions of the keywords within decided interval for bid management if there is no improvement in positions after bidding then increase almost double amount of bid you increased last time, for e.g. if last time you increased bid by $0.05 then this time increase it by $0.07 or $0.10.
10. If there is some improvement in position then again increase the bid by same amount you increased last time until the keyword reaches desired position.
11. If there is drastic improvement in position then increase the bid by fewer amounts then you increased last time until the keyword reaches desired position.
12. After few days of bid management if you find that there are certain keywords which are at 1st and 2nd position getting good clicks but no conversions. Such keywords can get clicks even at 5th to 8th positions. Bids can be reduced by 5%-10% at every round of bid optimization.
Bid management is not restricted to the above mentioned points; it always depends on the particular keyword, its CTR%, its past performance etc.
1. The frequency of doing bid management varies from nature of products and services advertised. If the product has lots of competitors then bid management need to be done regularly in 2-3 days, but if the product is of unique nature and has very less competitors then bid management can be done within 6-7 days because chances of fall in position are very rare in such cases. Keeping a track of competitors is supplementary work for doing bid management.
2. For knowing the level of competition in market for the keywords pull a keyword report check the positions, if the keywords are showing above 15th to 20th position then there is high competition for such keyword. It can be checked by simply entering the search query on search engine and see who all are marketing their product on the keyword. If they are direct competitors then such keywords need to be monitored more frequently and if they are not direct competitors but offer products which are somehow related to our products then we need to narrow down the searches of such keyword by adding negative keyword in the adgroup or adding certain keywords in exact match type.
3. Start with pulling a keyword report of previous day. Keyword report returns the average position of all the times when a keyword gets impression. Taking recent data is a good practice for bid management.
4. Sort the report with average positions.
5. 1st to 4th position is the most noticed position so whatever is below 4th position need to be optimized.
6. Increase 50%-60% bid on the keywords that are showing above 20th position.
7. Increase around 30% - 40% over the current bid on the keywords that are 10th to 20th position.
8. Increase bids by 10% - 20% for the keywords showing from 4th to 10th position.
9. Keep checking the positions of the keywords within decided interval for bid management if there is no improvement in positions after bidding then increase almost double amount of bid you increased last time, for e.g. if last time you increased bid by $0.05 then this time increase it by $0.07 or $0.10.
10. If there is some improvement in position then again increase the bid by same amount you increased last time until the keyword reaches desired position.
11. If there is drastic improvement in position then increase the bid by fewer amounts then you increased last time until the keyword reaches desired position.
12. After few days of bid management if you find that there are certain keywords which are at 1st and 2nd position getting good clicks but no conversions. Such keywords can get clicks even at 5th to 8th positions. Bids can be reduced by 5%-10% at every round of bid optimization.
Bid management is not restricted to the above mentioned points; it always depends on the particular keyword, its CTR%, its past performance etc.
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